MGM Resorts completes sale-leaseback of Aria, Vdara

A time aft it unveiled plans to operate The Cosmopolitan of Las Vegas, MGM Resorts International said it closed a sale-leaseback of 2 different towering hotels connected the Strip — with the Cosmo’s seller, nary less.

MGM announced Tuesday that it completed its $2 billion-plus buyout of its spouse successful the multi-tower CityCenter complex, giving the casino relation afloat ownership of the Aria and Vdara resorts, and that it finalized its sale-leaseback of those properties with Blackstone.

The New York fiscal conglomerate purchased the hotels’ existent property for astir $3.9 billion. As antecedently announced, MGM is leasing the properties backmost for an initial yearly rent of $215 million.

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Contact Eli Segall astatine esegall@reviewjournal.com oregon 702-383-0342. Follow @eli_segall connected Twitter.