Blackstone Announces Sale of The Cosmopolitan of Las Vegas
Retrieved on:
Monday, September 27, 2021
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Blackstone (NYSE: BX) today announced that Blackstone Real Estate Partners VII L.P. (BREP) has reached an agreement to sell The Cosmopolitan of Las Vegas (The Cosmopolitan) for $5.65 billion.
Key Points:
- Blackstone (NYSE: BX) today announced that Blackstone Real Estate Partners VII L.P. (BREP) has reached an agreement to sell The Cosmopolitan of Las Vegas (The Cosmopolitan) for $5.65 billion.
- Since acquiring The Cosmopolitan in 2014, Blackstone, alongside a best-in-class management team, transformed the resort into the leading destination on the Las Vegas Strip.
- Tyler Henritze, Head of Acquisitions Americas for Blackstone Real Estate, said: This transaction underscores Blackstones ability to acquire and transform large, complex assets.
- As owners of The Cosmopolitan, we invested strategic capital and brought our expertise and experience in the lodging space to create the most dynamic destination on the Las Vegas Strip.