VICI Properties Inc. Acquires Las Vegas Hotel For $1.27B With Buyer's Rep Edward Pitoniak & Seller's Rep Jon Gray & Scott Trebilco

3799 S Las Vegas Blvd,Las Vegas, Nevada & 3950 Las Vegas Boulevard South,Las Vegas, Nevada

$1,270,000,000

$35/SF

Building Size

36,000,000 SF

Asset Type

Hotel

Closing

Jan 12, 2022

AI

The property involved in this transaction is a hotel located at 3799 S Las Vegas Blvd & 3950 Las Vegas Boulevard South in Las Vegas, Nevada. The sale took place on 12/01/2022.

Summary of transaction details

Property Type: Hotel
Transaction Amount: $1,270,000,000 (Approx.)

VICI Properties Inc., represented by Edward Pitoniak, purchased the hotel. The seller was Blackstone Real Estate Income Trust, Inc., represented by Jon Gray & Scott Trebilco. VICI Properties Inc. acquired a 49.9% stake in the property.

The hotel has a total area of 18,000,000 square feet, with approximately 11,000 keys. The price per key was approximately $115,455, and the price per square foot was around $71.

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