VICI Properties has recently made a significant investment, acquiring the leasehold interest of Chelsea Piers and entering into agreements with Cabot for loans in Saint Lucia and Scotland. This deal, valued at approximately $550 million with an 8% yield, marks VICI’s first foray into real estate ownership after previously focusing on loan investments.
The acquisition of Chelsea Piers provides VICI with access to a prime property spanning 780,000 square feet that includes state-of-the-art sports facilities and event spaces. Additionally, the partnership with Cabot brings exciting opportunities such as the development of a golf resort in Saint Lucia and plans for revitalizing golf courses and amenities at Cabot Highlands in Scotland.
According to Edward Pitoniak, CEO of VICI Properties: “We are thrilled to expand our partnerships with two renowned experiential place makers – Chelsea Piers and Cabot. Our substantial commitment demonstrates our confidence in their ability to create unforgettable experiences that will cultivate long-lasting relationships within their valuable customer bases.”
This latest investment by VICI showcases their dedication towards strategic growth through collaborations with top industry players like Chelsea Piers and Cabot.
