DALLAS, February 11, 2021 / PRNewswire / – Koch Real Estate Investments, a subsidiary of Koch Industries, Inc. today announced the acquisition of a Las Vegas resort located at 2777 South Las Vegas Boulevard. The operation is in partnership with Fontainebleau Development.
Koch and its experienced partners offer the unique ability to combine long-term patient 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 the one in Las Vegas Tourism recovery underway, the city has safely reopened to millions of visitors since June with even greater success on the horizon.
âWe strongly believe in Las Vegas market and see the property as an excellent opportunity to contribute to the long-term success and positive trajectory of this dynamic and innovative region, âsaid Jacques Francois, chairman of Koch Real Estate Investments. “We are excited about this 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 an attractive deployment of risk-adjusted capital in real estate assets and operating companies with an agnostic approach to product, geography and capital situation; strongly focused on the best management teams and flexible capital solutions that align interests to generate mutual benefits with its partners.
Since 2003, Koch companies have invested nearly $ 133 billion in growth and improvements. With operations in more than 70 countries, Koch’s companies employ 122,000 people worldwide, including approximately 62,000 in United States. From january 2009 now, Koch companies have won more than 1,300 awards for safety, environmental excellence, community management, innovation and customer service. For more news and information, visit www.KOCHind.com.
About Fontainebleau Development, LLC
One of the country’s leading real estate and hospitality development groups, Fontainebleau Development has a diverse portfolio that includes properties in the hospitality, gaming, residential, retail, commerce and hospitality sectors. luxury services. The company designs, builds, owns, markets and operates its properties, providing expertise at every stage of the life cycle of a project with a constant concern to offer the best quality in everything it does. To date, Fontainebleau has established a diversified portfolio, comprising blue chip assets such as Big Easy Casino, Fontainebleau Miami Beach, JW Marriott Turnberry Resort & Spa, Hilton Downtown Nashville and numerous residential sites such as Turnberry Ocean Club, Turnberry Ocean Colony, Porto Vita. , Tresor and Sorrento towers in Fontainebleau Miami Beach. Its luxury services division includes Fontainebleau Aviation, Turnberry Marina, Turnberry Isle Country Club and some of the most profitable and well-known food, drink and wellness destinations in the world. In 50 years of history, Fontainebleau has participated in more than 100 projects representing more than $ 25 billion in the total value of the transaction.
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SOURCE Koch Industries