The Cosmopolitan of Las Vegas is real estate’s “most profitable single asset sale ever” for Blackstone

The transaction that saw Blackstone sell The Cosmopolitan of Las Vegas for $5.65 billion was the “most profitable single asset sale ever” for the company’s real estate business, Blackstone said in an earnings report Thursday. The high-priced transaction included a $1.625 billion lease-back deal for MGM Resorts International to acquire its operations in May. Though Blackstone did notContinue Reading