October 15, 2019 / 8:36 PM / a month ago

Blackstone REIT to buy Bellagio from MGM Resorts for $4.25 bln

Oct 15 (Reuters) - Blackstone Real Estate Income Trust will acquire the real estate assets of the Bellagio casino from MGM Resorts International for $4.25 billion in a sale-leaseback transaction, the companies said on Tuesday.

Blackstone REIT will form a 95-5 joint venture with MGM to acquire the assets, the companies said.

The deal is expected to close in the fourth quarter. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Maju Samuel)

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