LAS VEGAS – May 20, 2022 – Global law firm Greenberg Traurig, LLP served as Nevada and Gaming counsel to an affiliate of Blackstone Real Estate Investment Trust (“Blackstone”) in connection with the acquisition of The Cosmopolitan of Las Vegas (“The Cosmopolitan”). Under the terms of the deal, the Blackstone affiliate acquired The Cosmopolitan’s underlying real estate assets and MGM Resorts International (NYSE: MGM) acquired the resort’s operations.
The Cosmopolitan, which opened in December 2010, features 3,033 hotel rooms in two towers and is located between two other MGM properties on the Las Vegas Strip – the Bellagio and CityCenter’s Vdara and Aria. Condé Nast Traveler previously named The Cosmopolitan as one of the “Top Hotels in the World.”
“Our firm is proud to have played a part in this historic transaction,” Real Estate Shareholder Jim Mace, who led the Greenberg Traurig deal team, said. “Our representation in a transaction of this magnitude and complexity exemplifies the collaborative culture of our firm and showcases GT’s Real Estate, Corporate, Environmental, and Gaming Practices.”
In addition to Mace, Greenberg Traurig’s deal team included Shareholder Erica L. Okerberg (Gaming), Shareholder David Edington (Real Estate), Shareholder Pete J. Georgis (Corporate and Real Estate), Of Counsel Chris Thorne (Environmental), Law Clerk/JD Henry Agee, and Paralegals Tricia Lamb (Phoenix) and Julio Lopez Muro (Los Angeles).
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 600 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’s Environmental Practice: Greenberg Traurig’s Environmental Practice represents clients with issues under the environmental and natural resource laws that affect their businesses. The firm’s environmental attorneys assist with securing permits and approvals; negotiating and closing transactions; defending clients in enforcement actions; handling a broad range of environmental and toxic tort litigation; ensuring the understanding and satisfaction of regulatory requirements; preparing for and responding to emergencies; crafting approaches for legacy cleanup issues; and developing solutions for product regulation, market access, and environmental policy challenges. Greenberg Traurig received a first-tier ranking in the "Environmental Law" and "Litigation — Environmental" categories in the U.S. News - Best Lawyers 2021 "Best Law Firms" report.
About Greenberg Traurig: Greenberg Traurig, LLP has more than 2400 attorneys in 43 locations in the United States, Europe, Latin America, Asia, and the Middle East. The firm, often recognized for its focus on philanthropic giving, innovation, diversity, and pro bono, reported gross revenue of over $2 Billion for FY 2021. The firm is consistently among the top firms on the Am Law 100, Am Law Global 100, NLJ 250, and Law360 (US) 400. On the debut 2022 Law360 Pulse Leaderboard, it is a Top 15 firm. Greenberg Traurig is Mansfield Rule 4.0 Certified Plus by The Diversity Lab and net carbon neutral with respect to its office energy usage. Web: www.gtlaw.com.