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/biz/ - Business & Finance

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>> No.18201387 [View]
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18201387

Did MGM cuck Blackstone?

OCTOBER 16, 2019
Blackstone Real Estate Income Trust will acquire the Bellagio for $4.25 billion through a 95-5 joint venture with MGM and will lease it back to a unit of the casino company for an initial annual rent of $245 million.

JAN. 14, 2020
The joint venture includes private-equity and real estate company Blackstone Group and MGM Growth Properties LLC. The joint venture will be owned 50.1% by MGM Growth Properties and 49.9% by Blackstone. It will also acquire the real estate assets of Mandalay Bay from MGM Growth Properties and lease both properties to MGM Resorts for an initial rent of $292 million.

BlackStone literally bought just before the crash

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