Blackstone to Acquire The Cosmopolitan of Las Vegas for $1.73 Billion
05.15.14
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The Firm is representing Blackstone Real Estate Partners VII in connection with its agreement to acquire Nevada Property 1 LLC, the owner of The Cosmopolitan of Las Vegas, from Deutsche Bank for $1.73 billion in cash. The transaction is subject to regulatory approvals.
The Cosmopolitan of Las Vegas is a 3,000-room hotel and luxury resort casino located on the Las Vegas Strip directly between Bellagio and MGM’s City Center.
The Simpson Thacher team includes Greg Ressa, Erik Quarfordt, Frank Giovinazzo, Charles Clinton, Scott Farmer, Jason Mohr and Dan Liang (Real Estate); Brian Stadler and Leah Shen (M&A); Nancy Mehlman and Michael Cardella (Tax); Greg Grogan, Douglas Tang and Holly Gurian (Executive Compensation and Employee Benefits); Marcela Robledo and Samantha Himelman (Intellectual Property); Michael Naughton (Antitrust).