Blackstone Real Estate Income Trust’s $4.25 Billion Acquisition Of Bellagio Real Estate

Simpson Thacher represented Blackstone Real Estate Income Trust in connection with its acquisition of the real estate assets of the Bellagio from MGM Resorts for approximately $4.25 billion in a 95%/5% Blackstone-led joint venture.

As part of the transaction, MGM will lease the property from the joint venture and continue to manage, operate and be responsible for all aspects of the property on a day-to-day basis.

The Bellagio is a 3,933 room luxury hotel and casino resort, located on the Las Vegas strip, neighboring the Blackstone-owned The Cosmopolitan of Las Vegas. The Firm also represented Blackstone in their successful acquisition of The Cosmopolitan of Las Vegas in 2014.

The Simpson Thacher team included Erik Quarfordt (Picture), Greg Ressa, Jason Mohr, Leanne Welds, Carla Elliott and Margaret Finnegan (Real Estate); Nancy Mehlman, Sarah Katz and Edward Grais (Tax); Brian Stadler (M&A); Edgar Lewandowski, Benjamin Wells and Eva Kang (Capital Markets); and Andrew Blau and Jeanne Annarumma (Executive Compensation and Employee Benefits).

Involved fees earner: Jeanne Annarumma – Simpson Thacher & Bartlett; Andrew Blau – Simpson Thacher & Bartlett; Carla Elliott – Simpson Thacher & Bartlett; Margaret Finnegan – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Sarah Katz – Simpson Thacher & Bartlett; Edgar Lewandowski – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Jason Mohr – Simpson Thacher & Bartlett; Erik Quarfordt – Simpson Thacher & Bartlett; Gregory Ressa – Simpson Thacher & Bartlett; Brian Stadler – Simpson Thacher & Bartlett; Leanne Welds – Simpson Thacher & Bartlett; Benjamin Wells – Simpson Thacher & Bartlett; Eva Yunjeong Kang – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Blackstone Real Estate Income Trust, Inc.;