MGM Resorts Intl Acquires Las Vegas Hotel For $5.65B From Blackstone

3708 Las Vegas Blvd. S. in Las Vegas, NV has been sold in a recent transaction. The property is a hotel and was sold for a total price of $5,650,000,000. The buyer of the hotel is MGM Resorts International, specifically Bill Hornbuckle representing the company. Other buyers included the Cherng Family Trust, Stonepeak Partners represented by Michael Dorrell and Phill Solomond, and Blackstone Real Estate Income Trust (BREIT). The seller of the property is Blackstone.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $5,650,000,000
• Buyer: MGM Resorts International - Bill Hornbuckle; Cherng Family Trust; Stonepeak Partners - Michael Dorrell & Phill Solomond; & Blackstone Real Estate Income Trust (BREIT)
• Seller: Blackstone

The transaction involved notable individuals and companies. Stephen A. Schwarzman, Kenneth Caplan, Kathleen McCarthy, Jonathan Gray, and Michael Dorrell were involved in the deal, representing their respective organizations. It is important to note that the deal involved the exchange of 3,032 keys, and the price per key was $1,863,456.