Dreamscape Companies Secures $176.5M Loan For Renovated Rio Hotel & Casino In Las Vegas

3700 West Flamingo Road

$175,600,000

Building Size

—

Asset Type

Hotel

Closing

Aug 18, 2025

AI

The asset involved in this transaction is the renovated 2,520-room Rio Hotel & Casino located at 3700 West Flamingo Road in Las Vegas, NV. The total loan amount for this property is $175,600,000, reflecting its significance in the Las Vegas market.

Summary of transaction details:

Property Type: Hotel
Transaction Amount: $175,600,000
Lender: Jared Schlosser & Greg Friedman - Peachtree Group
Landlord: Eric Birnbaum - Dreamscape Companies
Keys: 2,520

This transaction highlights the involvement of Peachtree Group, which closed a $176.5M retroactive CPACE loan, marking Dreamscape Companies’ largest credit deal. The financing is one of the most significant CPACE transactions in the U.S. and enables Dreamscape to reimburse renovation costs from 2024 while paying down its senior debt.

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