VICI Properties Inc. Acquires Las Vegas Hotel Stake For $1.27B

The hotel located at 3799 S Las Vegas Blvd & 3950 Las Vegas Boulevard South in Las Vegas, Nevada, was recently sold for approximately $1,270,000,000. The property spans 18,000,000 square feet, with a price per square foot of $71. The transaction included 11,000 keys with a price per key of $115,455. VICI Properties Inc. represented by Edward Pitoniak acquired a 49.9% stake in the hotel from the sellers, Blackstone Real Estate Income Trust, Inc., which were represented by Jon Gray & Scott Trebilco.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $1,270,000,000
• Address: 3799 S Las Vegas Blvd & 3950 Las Vegas Boulevard South
• Market: Las Vegas, Nevada
• Buyer: VICI Properties Inc. - Edward Pitoniak
• Seller: Blackstone Real Estate Income Trust, Inc. - Jon Gray & Scott Trebilco

The sale of the hotel involved key individuals such as Edward Pitoniak from VICI Properties Inc. as the buyer and Jon Gray along with Scott Trebilco from Blackstone Real Estate Income Trust, Inc. as the sellers' representatives. The deal signifies a significant transaction in the Las Vegas real estate market, showcasing the involvement of prominent players in the industry.