DALLAS, February 11, 2021 / PRNewswire / – Koch Real Estate Investments, a subsidiary of Koch Industries, Inc., announced today that it has acquired a pending company Las Vegas The resort is located at 2777 South Las Vegas Boulevard. The deal is in partnership with Fontainebleau Development.
Koch and his experienced partners offer the unique opportunity to combine patient, long-term capital with world-class operations. Together, companies have a common interest in the recovery and growth of Las Vegas and the hospitality industry as a whole. With Las Vegas As tourism has recovered, the city has reopened to millions of visitors since June, and more success is on the horizon.
"We firmly believe in them Las Vegas market and see the property as a great opportunity to contribute to the long-term success and positive development of this vibrant and innovative region, "he says Jake Francis, President of Koch Real Estate Investments. "We are happy about the partnership and look forward to working together to further develop the project."
About Koch Real Estate Investments
Koch Real Estate Investments (KREI) based in Dallas, Texasfocuses efforts on an attractive risk-adjusted capital employed in real estate assets and operations with an agnostic approach to product, geography and capital position; We focus on world class management teams and flexible capital solutions that align interests to promote mutual benefit with partners.
Koch companies have almost invested since 2003 $ 133 billion in growth and improvement. With a presence in more than 70 countries, Koch companies employ 122,000 people worldwide, including around 62,000 in The United States. From January 2009 To date, Koch companies have received more than 1,300 awards for safety, environmental sustainability, community responsibility, innovation and customer service. Further news and information can be found at www.KOCHind.com.
About Fontainebleau Development, LLC
Fontainebleau Development is one of the leading real estate development and hospitality groups in the country and has a diverse portfolio that includes properties in the hospitality, gaming, residential, retail, commercial and luxury services sectors. The company designs, builds, owns, markets and operates its properties and provides expertise at every stage of the project life cycle, relentlessly focusing on delivering the best quality in everything it does. To date, Fontainebleau has built a diverse portfolio including world class assets like Big Easy Casino, Fontainebleau Miami Beach, JW Marriott Turnberry Resort & Spa, Hilton Downtown Nashville and numerous residential landmarks like Turnberry Ocean Club, Turnberry Ocean Colony and Porto Vita, the Tresor and Sorrento Towers on Fontainebleau Miami Beach. The Luxury Services division includes Fontainebleau Aviation, Turnberry Marina, Turnberry Isle Country Club and some of the world's top-selling and best-known food, beverage and wellness destinations. In a 50-year history, Fontainebleau has been involved in over 100 projects that more than represent $ 25 billion in the total transaction value.
SOURCE Koch Industries