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Greenberg Traurig Provides Nevada and Gaming Counsel to Blackstone Real Estate Income Trust in Acquisition of Bellagio Real Estate

LAS VEGAS – Nov. 15, 2019 – Greenberg Traurig, LLP served as Nevada and gaming counsel to Blackstone Real Estate Income Trust (BREIT) in what has been called a landmark transaction for the gaming industry. A BREIT-led joint venture with MGM Resorts International will acquire the real estate assets of the Bellagio for $4.25 billion in a sale-leaseback transaction.

“We were pleased to assist BREIT on this joint venture as Nevada and gaming counsel in Las Vegas,” said Real Estate Shareholder Jim Mace, who led Greenberg Traurig’s deal team. “This was a significant transaction that involved cooperation between experienced attorneys from both GT’s Real Estate and Gaming Practices.”

In addition to Mace, Greenberg Traurig’s deal team included shareholders Mark A. Clayton (Co-Chair of Greenberg Traurig’s Global Gaming Practice), Gregg Vermeys (Real Estate), Paul J. Keenan Jr. (Restructuring & Bankruptcy), and Jonathan I. Lessner (Corporate); of counsel Chris Thorne (Real Estate and Land Use); associates Pete J. Georgis (Real Estate and Corporate) and David Edington (Real Estate); and paralegal Trisha Lamb.

About Greenberg Traurig's Real Estate Practice: The Greenberg Traurig Real Estate Practice is a cornerstone of the firm and recognized leader in the industry. The firm’s real estate attorneys deliver diversified and comprehensive counsel for property acquisition and investment, development, management and leasing, financing, restructuring, and disposition of all asset classes of real estate. The team draws upon the knowledge and experience of more than 400 real estate lawyers from around the world, serving clients from key markets in the United States, Europe, the Middle East, Latin America, and Asia. The group’s clientele includes a broad range of property developers, lenders, investment managers, private equity funds, REITs, and private owners. The firm’s real estate team advises clients on a variety of matters across a broad spectrum of commercial, recreational, and residential real estate, including structured equity and debt and the hybrids.

About Greenberg Traurig’s Global Gaming Group: Greenberg Traurig’s Global Gaming Group focuses not only on casino operations, but also addresses lotteries, pari-mutuel wagering, charitable gaming, tribal gaming, and internet gaming, where permitted by law. Members of the practice have varied backgrounds and are located throughout the firm’s offices, allowing them to assist gaming clients in this highly regulated industry across multiple U.S. jurisdictions and internationally. The practice’s focus includes the representation of casino owners, operators and executives, gaming manufacturers and suppliers, private equity firms, and investment banks on gaming related matters.

About Greenberg Traurig, LLP: Greenberg Traurig, LLP (GT) has approximately 2100 attorneys in 41 locations in the United States, Latin America, Europe, Asia, and the Middle East. GT has been recognized for its philanthropic giving, diversity, and innovation, and is consistently among the largest firms in the U.S. on the Law360 400 and among the Top 20 on the Am Law Global 100. Web: Twitter: @GT_Law.