town name, state name
28 Days Ago

Realty Income Buys $950M Stake in the Bellagio

Reporter: Connectcre

 Realty Income Buys $950M Stake in the Bellagio

Share your feelings about this article

Marvellous Icon Interaction animation marvellous Image
Article Interaction Bullseye Image Interaction Animation Bullseye Image
Article Interaction Good Image interaction animation good


Right on


Realty Income Buys $950M Stake in the Bellagio Las Vegas attractions show no signs of losing their allure. Realty Income is investing $950 million (22%) in the $5.1 billion Bellagio on the Las Vegas Strip. Realty Income bought its interest from the Blackstone Realty Income Trust (BREIT). The price Realty Income is paying for its interest in Bellagio’s property assets implies the venue is worth 20% more today than what BREIT paid for it four years ago.

BREIT paid $4.25 billion for 95% of the famed resort casino in 2019. Realty Income provides more details in a recently released statement: “Upon closing, Realty Income will invest approximately $300 million of common equity in the joint venture, subject to certain adjustments, to acquire a 21.9% indirect interest in the property, BREIT will retain a 73.1% indirect interest.

Realty Income will also invest $650 million to acquire a yield-bearing preferred equity interest in the joint venture.” Realty Income is strictly a monthly dividend company structured as a REIT. Bellagio is a resort with roughly 4,000 guestrooms and suites and a casino with 157,000 square feet of gaming space and 200,000 gross square feet of meeting and event facilities.

Go to original article source

Related : Kids need to go back to school


Tucson, AZ







Overall Article Rating:
View Article Ratings
Contributions (0)
Add Contribution

A contribution is an additional perspective to the primary article. You may add your contribution to the article and it will be featured below the primary article. Each contribution will follow the article in order of date added.

Comment (0)
town name, state name