LAS VEGAS – (BUSINESS WIRE) – Sept. November 2021–
Fontainebleau Development, which designs, builds, owns and operates premier hotel, commercial, retail and luxury real estate, plans to open its recently acquired 67-story, vertically integrated luxury resort and casino at 2777 S. Las Vegas Boulevard in the fourth quarter of 2023. The property has begun construction and will open under the name Fontainebleau Las Vegas, a monumental addition that completes the company’s longstanding vision of housing its iconic brand on the Las Vegas Strip.
“We are grateful to have the opportunity to finish what we started and finally introduce the iconic Fontainebleau brand to one of the world’s largest hospitality destinations,” said Jeffrey Soffer, Chairman and Chief Executive Officer of Fontainebleau Development. “We have been extremely selective in expanding our brand. Las Vegas has always been our first choice.
“The building is in like new condition and we have already started construction. We look forward to making this dream come true. “
Fontainebleau Development and partner Koch Real Estate Investments acquired the property at 2777 S. Las Vegas Blvd in February 2021. The project is 75 percent complete and Fontainebleau Development will be the sole hotel operator of Fontainebleau Las Vegas once it opens.
“Our goal at Koch Real Estate Investments is to work with world-class management teams who have the drive and vision to provide unique solutions to every community in which we are present, and we have done that here with the Fontainebleau Development team” says Jake Francis, president of Koch Real Estate Investments. “Our partnership grew out of our shared belief in Las Vegas, not just as a travel destination, but as a global brand where people from around the world come together to enjoy world-class venues, entertainment and nightlife.”
The property is 25 acres and approximately 9 million square feet in a desirable location on the north end of the Las Vegas Strip, adjacent to the Las Vegas Convention Center and the Las Vegas Global Business District.
“The Las Vegas tourism industry has shown incredible resilience over the past two years, and we believe our target opening date will allow us to perfect our vision while also allowing Fontainebleau Las Vegas to thrive in a new era of growth and visitor numbers to position, ”says Fontainebleau Development President Brett Mufson. “This is not just an investment in real estate, but an investment in the community as well, and we look forward to making a positive presence and impact on Las Vegas for generations to come.”
Fontainebleau Development has hired renowned Las Vegas contractor Richardson Construction to complete the property and the company will announce additional design and development partners in the coming months. For more details on Fontainebleau Development and its portfolio, please visit fbdev.com.
About Fontainebleau Las Vegas
Fontainebleau Las Vegas is a vertically integrated, 67-story luxury hotel, gaming, entertainment, and meeting venue slated to open in the fourth quarter of 2023. Founded by Fontainebleau Development, the world-class hospitality, commercial, retail and luxury real estate business, in partnership with Koch Real Estate Investments, Fontainebleau Las Vegas completes the company’s long-standing vision of housing its iconic brand on the Las Vegas Strip. Located at 2777 S. Las Vegas Blvd. In addition to the acclaimed expansion of the Las Vegas Convention Center, Fontainebleau Las Vegas will boast more than 3,700 uniquely designed hotel rooms, more than 550,000 square feet of meeting space, and a world-class selection of restaurants and shops, pool experiences, vibrant nightlife, and coveted spa and wellness options.
About Fontainebleau Development, LLC
Fontainebleau Development is one of the leading real estate development and hospitality groups in the country and has a diverse portfolio that includes properties in the hospitality, gaming, residential, retail, commercial and luxury services sectors. The company designs, builds, owns, markets and operates its properties, providing expertise at every stage of the life cycle of a project with a relentless focus on delivering the best quality in everything it does. To date, Fontainebleau has built a diverse portfolio including world class assets like Big Easy Casino, Fontainebleau Miami Beach, JW Marriott Turnberry Resort & Spa, Hilton Downtown Nashville and numerous residential areas like Turnberry Ocean Club, Turnberry Ocean Colony, Porto Vita, the Tresor and Towers Sorrento in Fontainebleau Miami Beach. The Luxury Services division includes Fontainebleau Aviation, Turnberry Marina, Turnberry Isle Country Club and some of the top-selling and best-known food, beverage and wellness destinations in the world. In its 50-year history, Fontainebleau has been involved in over 100 projects with a total transaction value of over 25 billion US dollars.
About Koch Real Estate Investments
Koch Real Estate Investments (KREI), headquartered in Dallas, Texas, focuses its efforts on an attractive risk-adjusted capital investment in real estate assets and operating companies with an agnostic approach to product, geography and capital position. KREI has a strong focus on world class management teams and flexible capital solutions that align interests to achieve mutual benefit with its partners. Since 2003, Koch companies have invested nearly $ 133 billion in growth and improvement. With a presence in more than 70 countries, the Koch companies employ 122,000 people worldwide, around 62,000 of them in the USA. From January 2009 until today, Koch companies have received more than 1,300 awards for safety, environmental quality, community responsibility, innovation and customer service. Further news and information can be found at www.KOCHind.com.
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CONTACT: Amy Rossetti
Rossetti Public Relations
FBLV@rossettipr.com
KEYWORD: NEVADA NORTH AMERICA UNITED STATES MEXICO CANADA CENTRAL AMERICA
INDUSTRY KEYWORD: COMMERCIAL & REAL ESTATE CASINO / GAMING CONSTRUCTION & REAL ESTATE ENTERTAINMENT GENERAL ENTERTAINMENT ACCOMMODATION DESTINATIONS HOLIDAY TRAVEL
SOURCE: Fontainebleau Development, LLC
Copyright Business Wire 2021.
PUB: 11/9/2021 2:30 p.m. / DISC: 11/9/2021 2:32 p.m.
http://www.businesswire.com/news/home/20211109005467/en
