Realty Income Corporation has entered into an agreement with Wynn Resorts Limited to purchase Encore Boston Harbor Resort and Casino for $1.7 billion. The property was built for $2.6 billion in 2019. Wynn Resorts is selling the property in a sale-leaseback transaction with an initial lease term of 30 years and annual rent growth of 1.75% for the first ten years. The deal marks Realty Income’s foray into the gaming industry.

Per the terms of the sale-leaseback agreement, the rent will escalate either 1.75% or CPI, whichever is greater, following the first 10 years of the lease term. The lease includes a 30-year option to renew upon expiration.

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

More from this author


GlobeSt Net Lease Fall 2022Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2022 ALM Global, LLC. All Rights Reserved.