![]() ![]() acquisitions Americas for Blackstone Real Estate, said, “This transaction reflects our high conviction in Las Vegas and our strong partnership with MGM Resorts. We expect to continue executing on our asset-light strategy and utilizing the proceeds from our real estate transactions to enhance our financial flexibility and secure new growth opportunities.” ![]() Regarding the real estate agreement with Blackstone, Bill Hornbuckle, CEO/president, MGM Resorts, said, “This transaction demonstrates the unprecedented premium value of our real estate assets and is a testament to Aria and Vdara’s status as premier destinations on the Las Vegas Strip. Following the acquisition, both properties will be leased to MGM Resorts for initial annual rent of $215 million. Under terms of the agreement, funds managed by Blackstone will acquire the Aria and Vdara real estate for $3.89 billion in cash, which represents a multiple of 18.1x rent. MGM Resorts has also entered into a definitive agreement with Blackstone to monetize the Aria and Vdara real estate assets, pending the close of the equity purchase agreement between MGM Resorts and Infinity World. The agreement will make MGM Resorts the 100% owner of Cit圜enter on the Las Vegas Strip, which comprises Aria Resort & Casino and Vdara Hotel and Spa. The purchase price represents an implied valuation of $5.8 billion based on net debt of $1.5 billion, after giving effect to the recently closed sale of a two-acre parcel. MGM Resorts International has entered into a definitive agreement to purchase Infinity World Development Corp’s 50% interest in Cit圜enter Holdings LLC for $2.125 billion. MGM Resorts to purchase Cit圜enter sell Aria and Vdara Here’s a look at that transaction and more. The location of the property is right on the Strip, so guests can find plenty of places to dine, shop, and have a good time.MGM Resorts has reached an agreement to purchase Cit圜enter in Las Vegas and sell the Aria and Vdara Hotels on the site. Guests will also find a host of places to dine and drink on-site, as well as places where they can relax with a drink, enjoy some time at the pool, and spend time at the fitness center or shopping. Some of the types of amenities found on the property include the private concierge and wireless Internet that is available in the rooms and throughout the resort. Rooms have large flat-screen TVs, a tablet to control the light and temperature, and a workstation. Some of the types of amenities that can be expected in the rooms include high ceilings, a private spa-like bathroom, a minibar, laptop in the room, and separate sitting and seating areas. The suits have fantastic views of Las Vegas or the mountains. They can choose from one-bedroom suites, two-bedroom suites, and one and two-bedroom penthouses. Guests will find beautiful suites of varying sizes at the property. In fact, there are only 45 other resorts on the planet that have both the AAA Five Diamond and Forbes Five Star Award. The property has a phenomenal location, along with amenities and features that guests expect from a hotel of this caliber. The AAA Five Diamond property is located at the ARIA high above Las Vegas. Travelers who are looking to stay in true luxury when they head to Sin City will want to consider staying at ARIA Sky Suites.
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