iCrowdNewswire Feb 20, 2021 1:43 PM ET
Koch Real Estate Investments, an affiliate of Koch Industries, Inc. today announced the acquisition of a to-be-completed Las Vegas resort located at 2777 South Las Vegas Boulevard. The deal is in partnership with Fontainebleau Development.
Koch and its experienced partners provide the unique ability to combine patient, long-term capital with best-in-class operations. Together, the companies have a shared interest in the recovery and growth of Las Vegas and the hospitality industry as a whole. With Las Vegas’s tourism recovery underway, the city has safely reopened to millions of visitors since June with even more success on the horizon.
“We believe strongly in the Las Vegas market and see the property as a great opportunity to contribute to the long-term success and positive trajectory of this vibrant and innovative region,” says Jake Francis, President of Koch Real Estate Investments. “We are excited about the partnership and look forward to working together as the project evolves.”
About Koch Real Estate Investments
Koch Real Estate Investments (KREI), based in Dallas, Texas, focuses its efforts on attractive risk-adjusted capital deployment into real estate assets and operating companies with an agnostic approach to product, geography, and capital position; acutely focused on best-in-class management teams and flexible capital solutions which align interests to drive mutual benefit with its partners.
Since 2003, Koch companies have invested nearly $133 billion in growth and improvements. With a presence in more than 70 countries, Koch companies employ 122,000 people worldwide, with about 62,000 of those in the United States. From January 2009 to present, Koch companies have earned more than 1,300 awards for safety, environmental excellence, community stewardship, innovation, and customer service. For more news and information, visit www.KOCHind.com.
About Fontainebleau Development, LLC
One of the country’s premiere real estate development and hospitality groups, Fontainebleau Development has a diverse portfolio which includes properties in the hospitality, gaming, residential, retail, commercial, and luxury services sectors. The company designs, builds, owns, markets, and operates their properties, providing expertise in each stage of a project’s life cycle with a relentless focus on delivering the best quality in everything they do. To date, Fontainebleau has established a diverse portfolio, including premiere assets such as Big Easy Casino, Fontainebleau Miami Beach, JW Marriott Turnberry Resort & Spa, Hilton Downtown Nashville, and numerous residential landmarks such as Turnberry Ocean Club, Turnberry Ocean Colony, Porto Vita, the Tresor and Sorrento towers at Fontainebleau Miami Beach. Its luxury services division includes Fontainebleau Aviation, Turnberry Marina, Turnberry Isle Country Club, and some of the highest grossing and well-known food, beverage, and wellness destinations in the world. Over a 50-year history, Fontainebleau has been involved in over 100 projects representing in excess of $25 billion in total transaction value