Caesars Entertainment, Inc. has entered into a definitive agreement to sell the LINQ Promenade to a joint venture formed by TPG Real Estate and Acadia Realty Trust’s Investment Management Platform for US$275 million (£211.2 million/€253.8 million). The transaction, subject to customary regulatory approvals and closing conditions, is anticipated to be completed in the fourth quarter of 2024.
Caesars was represented in the transaction by Latham & Watkins LLP and Brownstein Hyatt Farber Schreck, LLP, while Kirkland & Ellis LLP provided counsel to TPG and Acadia.
“The sale of the LINQ Promenade represents an accretive, non-core asset sale that will accelerate our debt reduction goals. I want to thank all the team members and the tenants of the LINQ Promenade for their partnership over the last 10 years and wish them continued success,” said Tom Reeg, CEO of Caesars Entertainment, Inc.
