Fontainebleau Las Vegas Secures $2.2B to Complete Construction
Construction continues as the resort and casino destination remains on schedule for a debut on Las Vegas Strip in Q4 2023
A partnership between Fontainebleau Development and Koch Real Estate Investments (KREI) has secured a $2.2 billion construction loan to complete Fontainebleau Las Vegas, a 67-story hotel, gaming, meeting, and entertainment destination coming to the north end of the Las Vegas Strip. The financing, secured with J.P. Morgan as administrative agent, keeps construction on schedule and paves the way for Fontainebleau Las Vegas to make its global debut in the fourth quarter of 2023.
Fontainebleau Las Vegas spans 25 acres and nine million square feet on the northern end of the Las Vegas Strip next to the Las Vegas Convention Center, and will feature 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.
The partnership was advised by Dustin Stolly and Jordan Roeschlaub of Newmark. Upon completion, Bowtie Hospitality will be the sole operator of Fontainebleau Las Vegas.