Las Vegas’ top real estate deals of 2021
Las Vegas spent the past year grappling with the pandemic and recovering from the economic disaster it unleashed in 2020. Las Vegas also saw a burst of lucrative casino sales on the Strip as tourism rebounded from public health crisis.
The Cosmopolitan of Las Vegas is being sold by Blackstone for $5.65 billion. MGM Resorts International is buying the Cosmo's operations side for more than $1.6 billion as part of the deal.
Jeffrey Soffer reacquired the Fontainebleau project in February. He is planning to open the 67-story hotel-casino in 2023.
Anthony Hsieh bought a newly built mansion in the Henderson foothills in June for $25 million. It's the most expensive home purchase ever recorded in Southern Nevada.
Sands Corp. sold The Venetian, Palazzo and the former Sands Expo and Convention Center for $6.25 billion in March. It bought a new corporate headquarters in the southwest valley in September for £21.55 million.
MGM Resorts sold the remaining pieces of its CityCenter complex in 2021 for big sums. It bought out its partner in City center for more than $2.1 billion and sold Aria and Vdara to Blackstone for $3.89 billion. In April, it sold 2 acres in the former site of Harmon hotel to Las Vegas developer Brett Torino and New York’s Flag Luxury Group for around $80 million.
Vici Properties will buy MGM Growth Properties in a $17 billion-plus deal. MGM Growls' real estate holdings include MGM Grand, Mandalay Bay, The Mirage, Park MGM, Luxor, New York-New York and Excalibur.
Hard Rock International bought The Mirage's operations side from MGM Resorts for more than $1 billion. It plans to build a guitar-shaped hotel tower on the Strip.
The Palms was sold to the San Manuel Band of Mission Indians for $650 million. The new owners plan to reopen the off-Strip hotel-casino in spring 2022.
Heart of Nature bought the bulk of Cal-Nev-Ari for $8 million in July. Heart ofNature supplies the agricultural industry and wouldn't do mining in Cal.Nev. Ari.
Golden Knights defenseman Alex Pietrangelo sold a Summerlin mansion to teammate Max Pacioretty for $6.4 million in August. Pieterangelo bought it for $ 6 million a year ago.