Blackstone Inc. is selling a preferred equity stake in the CityCenter Las Vegas complex to Realty Income Corp. in a deal that lets the alternative asset manager cash in on its investment while retaining control of the property.
Blackstone Inc. is selling a preferred equity stake in the CityCenter Las Vegas complex to Realty Income Corp. in a deal that lets the alternative asset manager cash in on its investment while retaining control of the property.
The ARIA Resort and Casino stands at the MGM Mirage CityCenter complex in Las Vegas, Nevada, U.S., in this aerial photo taken on Monday, Dec. 14, 2009. MGM Mirage, the Las Vegas Strip's largest casino owner, is counting on the Dec. 16 grand opening of the $8.5 billion CityCenter resort to mark an end to the city's losing streak and the debt crisis that almost sank the company. Strip gambling is down about 12 percent this year after a record 11 percent drop in 2008.
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