Fontainebleau Las Vegas Secures $2.2 Billion In Financing To Complete Construction
Amount Raised
$2.2 Billion
Investors
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.