MGM Growth Properties, Blackstone Real Estate Income Trust to Form Joint Venture to Acquire MGM Grand Real Estate
January 15, 2020
January 15, 2020
NEW YORK, Jan. 15 -- Blackstone, an investment firm, issued the following news release:
MGM Growth Properties LLC ("MGP") (NYSE: MGP) and Blackstone Real Estate Income Trust, Inc. ("BREIT") announced that MGP and BREIT have entered into a definitive agreement to form a new joint venture to acquire the Las Vegas real estate assets of the MGM Grand and Mandalay Bay for $4.6 billion. In addition, BREIT will purchase $150 million in MGP Class A shares. MGP will own 5 . . .
MGM Growth Properties LLC ("MGP") (NYSE: MGP) and Blackstone Real Estate Income Trust, Inc. ("BREIT") announced that MGP and BREIT have entered into a definitive agreement to form a new joint venture to acquire the Las Vegas real estate assets of the MGM Grand and Mandalay Bay for $4.6 billion. In addition, BREIT will purchase $150 million in MGP Class A shares. MGP will own 5 . . .