A partnership between Fontainebleau Development and Koch Real Estate Investments (KREI) has secured–with J.P. Morgan as administrative agent–a $2.2 billion construction loan to complete Fontainebleau Las Vegas, on the north end of the Las Vegas Strip. The financing will keep construction on schedule and ensure the hotel, gaming, meeting and entertainment destination makes its global debut in the fourth quarter of 2023.
“This is a milestone for Fontainebleau Las Vegas,” said Fontainebleau Development President Brett Mufson. “We are eager to bring our iconic Fontainebleau brand–timeless beauty, unparalleled service, and innovative design–to the Las Vegas Strip.”
Fontainebleau Las Vegas spans 25 acres and nine million square feet in a coveted location on the northern end of the Las Vegas Strip directly adjacent to the Las Vegas Convention Center. It will offer approximately 3,700 luxury hotel rooms, 550,000 square feet of customizable convention and meeting space, and a collection of gaming, dining, retail, lifestyle, and health and wellness experiences.
Thanking all those that made the financing possible, Jacob Francis, president of KREI said, “Securing $2.2 billion in financing in today’s market speaks to the widespread confidence in this project, and the team that’s come together to bring it to Las Vegas.”
Upon completion, Bowtie Hospitality LLC, a subsidiary of Fontainebleau Development, will be the sole operator of Fontainebleau Las Vegas.
For more information, visit fontainebleaulasvegas.com.
Related Stories
Accor Adds Hotel Ändra Seattle to the MGallery Hotel Collection
Le Meridien and Element Hotels to Open in Salt Lake City