Three-party consortium that owns the Cosmopolitan dirt
The land underneath [[casino:cosmopolitan|The Cosmopolitan]] is owned by a three-party consortium: Blackstone Real Estate Income Trust (BREIT), Stonepeak Partners, and the Cherng Family Trust (Panda Express founders). The consortium paid ~$4B for the real estate when [[operator:mgm-resorts|MGM Resorts]] acquired the Cosmopolitan's operations from Blackstone in May 2022 for $1.625B. MGM pays approximately $200M/year in rent.
No incoming references yet. Will appear here when other pages mention this entity.