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Blackstone to quit MGM Grand Las Vegas and Mandalay Bay resorts JV

By Raghuram Kadari on December 3, 2022 Gaming, Casino and Gambling Industry News

Blackstone Real Estate Income Trust (BREIT) has agreed to divest its 49.9% interest in MGM Grand Las Vegas and Mandalay Bay Resort to its joint venture (JV) partner VICI Properties for approximately $1.27 billion in cash. VICI Properties currently holds a 50.1% stake in the joint venture that owns the two properties located in Las […]

Condor Hospitality Trust to sell hotel portfolio to Blackstone for $305m

By pallavi123 on September 26, 2021 Hotel Industry News

Condor Hospitality Trust, a Maryland-based real estate investment trust company, has agreed to sell its full portfolio of hotels with affiliates of Blackstone Real Estate Partners for $305 million in an all-cash deal. The deal involves the sale of 15 hotels in eight states. The hotels of Condor Hospitality Trust are franchised by Hilton, InterContinental […]