Realty Income Corporation And Blackstone REIT Acquire The Bellagio Las Vegas Hotel For $950M

The Bellagio Las Vegas, a hotel located at 3600 S Las Vegas Blvd, has been sold in a transaction involving Realty Income Corporation and Blackstone Real Estate Income Trust, Inc. The sale price for the property is $950,000,000.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $950,000,000
• Buyer: Realty Income Corporation
• Seller: Blackstone Real Estate Income Trust, Inc - Nadeem Meghji
• Market: Las Vegas, Nevada

Realty Income Corporation and Blackstone Real Estate Income Trust (BREIT) have agreed to jointly invest approximately $950 million in a new joint venture for acquiring equity interests in The Bellagio Las Vegas real estate assets.