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Cosmopolitan hotel-casino on Las Vegas Strip may be sold

Cosmopolitan begins charging for parking
Posted at 7:23 AM, Apr 18, 2019
and last updated 2019-04-18 10:23:57-04

LAS VEGAS (KTNV) — The Cosmopolitan hotel-casino on the Las Vegas Strip may be up for sale, according to Wall Street Journal.

WSJ says that the Blackstone Group has retained Deutsche Bank AG and PJT Partners to explore strategic alternatives for the property, including a possible sale.

Blackstone acquired the hotel-casino in 2014 for $1.7 billion and spent $500 million into finishing and renovating the property.

Real estate executives told the WSJ that the hotel-casino could sell for as much as $4 billion.