Fontainebleau partnership gets $2.2 billion construction loan

By Mary-Katherine Stinson

Lexington, Ky., Dec. 23 – A partnership between Fontainebleau Development and Koch Real Estate Investments secured a $2.2 billion construction loan to complete Fontainebleau Las Vegas, according to a press release Friday.

JPMorgan is the administrative agent.

“We would like to thank J.P. Morgan, SMBC, Blackstone Real Estate Debt Strategies, Goldman Sachs, Guggenheim, and VICI Properties for recognizing both the potential of this property and the expertise of those involved in its capitalization, design, and construction. 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.,” Koch Real Estate Investments president Jacob Francis, said in the press release.

Upon completion, Fontainebleau Development’s subsidiary Bowtie Hospitality LLC will be the sole operator of the 67-story Fontainebleau Las Vegas on the north end of the Las Vegas Strip. It is scheduled to complete construction in the fourth quarter of 2023.

The partnership was advised by Dustin Stolly and Jordan Roeschlaub of Newmark.

Fontainebleau is a Las Vegas-based casino-resort developer.

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