Blackstone has purchased the hotels’ real estate for nearly $3.9 billion, and MGM is leasing the properties back.
Eli Segall
Reporter: Real estate
Email: esegall@reviewjournal.com
Phone: (702) 383-0342
X: @eli_segall
Eli Segall joined the Review-Journal in August 2016 after covering real estate and other business topics for four years at the Las Vegas Sun. He also worked for the Silicon Valley/San Jose Business Journal, The Associated Press and other news groups. Segall has a bachelor’s in political science from the University of Michigan and a master’s in journalism from the University of Maryland. His awards include 2017 Story of the Year from the Nevada Press Association.
The multibillion-dollar sale of The Cosmopolitan marks the latest in a string deals on the Strip between two powerhouse companies and another investment on Las Vegas Boulevard from the CEOs of fast-food chain Panda Express.
Christopher Homes announced plans this month for SkyVu, a 102-lot housing tract in MacDonald Highlands.
A Colorado company that makes aluminum beverage cans has set out to build a plant on 70-plus acres in Apex Industrial Park, a sizable venture in an area that has seen little development over the years.
The massive home appears to be the only property the former Zappos CEO Tony Hsieh owned at the time of his death that is now listed for sale.
Matter Real Estate Group announced it had acquired more than 40 acres near Las Vegas Motor Speedway with plans to build a nearly 1 million-square-foot complex.
Jerry Tyler, president of mining firm Heart of Nature, said there appears to be something like a river flowing beneath Cal-Nev-Ari, a remote community south of Las Vegas.
Ovation Development filed plans for a 55-and-older apartment project behind the Henderson casino.
Prologis acquired a 441,569-square-foot business park on Dean Martin Drive near the Interstate 15-Blue Diamond Road interchange.
Ioneer Ltd. management hopes to have the facility in sparsely populated Esmeralda County up and running in 2024.
Contractor Grand Canyon Development Partners announced that it finished the four-story, 150,000-square-foot building in the southwest valley.
Scott Gragson’s 10,621-square-foot home is listed for rent at a price that amounts to buying a luxury car every four weeks.
The developer, Joe Sorge, founded a company that produced gene-analysis and cell-biology products, and boasts an executive producer’s credit for comedy show “Workin’ Moms.”
Over the past several months, some signs that Southern Nevada’s market was tapping the brakes have come and gone.
U.S. firms that flip houses around the country purchased 532 homes in the Las Vegas area in the second quarter, up almost 80 percent from the first quarter.