Las Vegas’ top real estate deals of 2021
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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.
