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Realty Income Announces $800 Million Preferred Equity Investment in CityCenter Las Vegas Real Estate Assets
Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company® and Blackstone Real Estate announced today a definitive agreement under which Realty Income will make an $800 million perpetual preferred equity investment in the real estate of CityCenter, comprised of the ARIA Resort & Casino and Vdara Hotel & Spa, which is owned by funds affiliated with Blackstone Real Estate. Blackstone Real Estate will retain 100% of the common equity ownership of the property, which will cont
About this update from Blackstone Mortgage Trust, Inc.
[{"type":"text","content":"Realty Income Increases 2025 Investment Volume Guidance to Over $6.0 Billion","length":76,"tagName":"p","attribs":{}},{"type":"text","content":"SAN DIEGO and NEW YORK, Dec. 1, 2025 /PRNewswire/ -- Realty Income Corporation (Realty Income, NYSE: O), The Monthly Dividend Company® and Blackstone Real Estate announced today a definitive agreement under which Realty Income will make an $800 million perpetual preferred equity investment in the real estate of CityCenter, comprised of the ARIA Resort & Casino and Vdara Hotel & Spa, which is owned by funds affiliated with Blackstone Real Estate. Blackstone Real Estate will retain 100% of the common equity ownership of the property, which will continue to be operated by MGM Resorts International. This represents Realty Income's second investment with Blackstone Real Estate, following the successful Bellagio Las Vegas joint venture completed in 2023.","length":770,"tagName":"p"},{"type":"image","alt":"Realty Income Corporation - The Monthly Dividend Company. (PRNewsFoto/Realty Income Corporation) (PRNewsfoto/Realty Income Corporation)","displaySize":"","headline":null,"caption":"Realty Income Corporation - The Monthly Dividend Company. (PRNewsFoto/Realty Income Corporation) (PRNewsfoto/Realty Income Corporation)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":109,"url":"https://media.zenfs.com/en/prnewswire.com/c6afb52e5b77caee4e02b4173512f61a"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/AzPLYwOBpoy_BkIhYxacVQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE5MjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/c6afb52e5b77caee4e02b4173512f61a","width":400,"height":109}},"href":"https://mma.prnewswire.com/media/122541/Realty_Income_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"In conjunction with today's announcement, Realty Income is increasing its 2025 investment volume outlook to over $6.0 billion.","length":130,"tagName":"p"},{"type":"text","content":"The perpetual preferred equity investment is expected to carry an initial unlevered rate of return to Realty Income of 7.4% with annual, capped escalators starting on the fifth anniversary of the closing. The preferred equity investment is subject to an early redemption premium payable to Realty Income of 3% of the preferred equity amount if redeemed prior to...