March 21, 2016 Comments Off on MGM Resorts Strikes $1.1B Deal with Invesco Views: 710 California News, National News, Nevada, West

MGM Resorts Strikes $1.1B Deal with Invesco

CityCenter Holdings LLC has entered into an agreement with Invesco Real Estate and Simon Property Group to acquire the Shops at Crystals, at 3720 S. Las Vegas Blvd. in Las Vegas for $1.1 billion. CityCenter is a venture between MGM Resorts International and Infinity World Development Corp. The transaction is expected to close in the second quarter of 2016.

Shops at Crystals encompasses 324,000 square feet of retail space.  The center is anchored by 10 luxury flagship stores, including Louis Vuitton, Gucci, Dolce & Gabbana, Tom Ford, Prada, Fendi and Tiffany & Co., as well as 30 unique-to-market luxury retailers, including Celine, Saint Laurent and Richard Mille.

The buyer was represented by Jones Lang LaSalle.

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