Blackstone’s Acquisition of Aria Resort & Casino and Vdara Hotel and Spa

Simpson Thacher and Greenberg Traurig advised Blackstone on the transaction.

Blackstone announced its acquisition of Aria Resort & Casino and Vdara Hotel and Spa from MGM Resorts International (NYSE: MGM) for $3.89 billion in cash. Following the acquisition, both properties will be leased to MGM Resorts for initial annual rent of $215 million.

Blackstone’s acquisition is expected to close in the third quarter, subject to certain closing conditions. 

Blackstone is a leading global investment business investing capital on behalf of pension funds, large institutions and individuals. They invest across the alternative asset classes in private equity, real estate, credit and hedge funds as well as in infrastructure, life sciences, insurance, and growth equity. 

The Simpson Thacher team included Erik Quarfordt (Picture), Greg Ressa, Jason Mohr, Sam Rudik and Emily Rosenthal (Real Estate); Nancy Mehlman and Edward Grais (Tax); Benjamin Wells and Drew Harmon (Funds); Michael Carnevale, Daniel Levien and David Caldwell (International Regulatory and Compliance); Jeanne Annarumma (ERISA); and Andrew Blau (ECEB). 

Las Vegas office Real Estate Shareholder Jim Mace led the Greenberg Traurig team in this acquisition. In addition, the deal team included Shareholder Mark A. Clayton (chair of Greenberg Traurig’s Global Gaming Practice); Shareholder Greg Lawrence (Energy & Natural Resources); Shareholder Brady McShane (Land Use and Zoning); Shareholder Erica Okerberg (Gaming); Shareholder Gregg Vermeys (Real Estate); Of Counsel Michael Hogue (Litigation); Of Counsel Chris Thorne (Real Estate and Energy & Natural Resources); Associate Francesca Ciliberti-Ayres (Energy & Natural Resources); Associate David Edington (Real Estate); Associate Pete J. Georgis (Real Estate and Corporate); Associate Zaniah Jordan (Corporate) and Paralegal Trisha Lamb.

Involved fees earner: Francesca Ciliberti-Ayres – Greenberg Traurig LLP; Mark Clayton – Greenberg Traurig LLP; David Edington – Greenberg Traurig LLP; Pete Georgis – Greenberg Traurig LLP; Michael Hogue – Greenberg Traurig LLP; Zaniah Jordan – Greenberg Traurig LLP; Gregory Lawrence – Greenberg Traurig LLP; Jim Mace – Greenberg Traurig LLP; Brady McShane – Greenberg Traurig LLP; Erica Okerberg – Greenberg Traurig LLP; Christopher Thorne – Greenberg Traurig LLP; Gregg Vermeys – Greenberg Traurig LLP; Jeanne Annarumma – Simpson Thacher & Bartlett; Andrew Blau – Simpson Thacher & Bartlett; David Caldwell – Simpson Thacher & Bartlett; Michael Carnevale – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Drew Harmon – Simpson Thacher & Bartlett; Daniel Levien – Simpson Thacher & Bartlett; Nancy Mehlman – Simpson Thacher & Bartlett; Jason Mohr – Simpson Thacher & Bartlett; Erik Quarfordt – Simpson Thacher & Bartlett; Gregory Ressa – Simpson Thacher & Bartlett; Emily Rosenthal – Simpson Thacher & Bartlett; Samuel Rudik – Simpson Thacher & Bartlett; Benjamin Wells – Simpson Thacher & Bartlett;

Law Firms: Greenberg Traurig LLP; Simpson Thacher & Bartlett;

Clients: Blackstone;

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Author: Alejandro Girola