![]() ![]() ![]() The transaction was announced on January 14, 2020. MGM has also provided a full corporate guarantee of rent payments. In connection with the completion of the transaction, MGM Resorts has entered into a long-term triple net master lease for both properties, and will continue to manage, operate and be responsible for all aspects of the properties on a day-to-day basis, with the joint venture owning the properties and receiving rent payments. In addition, BREIT has purchased approximately 4.9 million MGP Class A shares at a price of $30.67 per share. 14, 2020 /PRNewswire/ - MGM Resorts International ("MGM Resorts") (NYSE: MGM), MGM Growth Properties LLC ("MGP") (NYSE: MGP) and Blackstone Real Estate Income Trust ("BREIT") today announced the closing of the previously announced transaction for a joint venture formed between MGP and BREIT to acquire the Las Vegas real estate assets of the MGM Grand and Mandalay Bay for $4.6 billion. ![]()
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