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Fontainebleau Las Vegas Secures $2.2 Billion In Financing To Complete Construction

Dec 23, 2022over 2 years ago

Amount Raised

$2.2 Billion

Las VegasHotelReal EstateHospitality

Investors

Koch Real Estate Investments

Description

A partnership between Fontainebleau Development, a builder, owner, and operator of luxury hospitality, commercial, and retail properties, and Koch Real Estate Investments (KREI), the real estate investment arm of Koch Industries, has secured – with J.P. Morgan as administrative agent – a $2.2 billion construction loan to complete Fontainebleau Las Vegas, the highly anticipated 67-story hotel, gaming, meeting, and entertainment destination coming to the north end of the Las Vegas Strip. The financing, a monumental achievement for both companies following their joint acquisition of the property in 2021, keeps construction on schedule and paves the way for Fontainebleau Las Vegas to make its global debut in the fourth quarter of 2023.

Company Information

Company

Fontainebleau Development, LLC

Location

Las Vegas, Nevada, United States

About

Fontainebleau Las Vegas is a vertically integrated, luxury 67-story hotel, gaming, entertainment, and meeting destination scheduled to open fourth quarter of 2023. Created by Fontainebleau Development, which builds, owns, and operates premier hospitality, commercial, retail, and luxury properties, in partnership with Koch Real Estate Investments, Fontainebleau Las Vegas brings full circle the company’s longtime vision of hosting its iconic brand on the Las Vegas Strip. Located at 2777 S. Las Vegas Blvd. adjacent to the acclaimed Las Vegas Convention Center expansion, Fontainebleau Las Vegas will feature approximately 3,700 luxury hotel rooms, 550,000 square feet of convention space, and a world-class collection of restaurants and shops, pool experiences, vibrant nightlife options, and coveted spa and wellness offerings.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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