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).