Real Estate - NOVEMBER 23, 2021

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Blackstone pays $291m for 115.7 acres of land

by Andrea Zander

Churchill Downs Inc. (CDI), a gaming entertainment operating company, has signed an agreement to sell 115.7 acres of land near Calder Casino, located in Lake Lucerne, Miami Gardens, Fla., for $291 million.

CDI has agreed to sell the land to Link Logistics, one of the premier owners of logistics real estate assets, established in 2019 by Blackstone.

Following the closing of this transaction, CDI will retain ownership of approximately 54 acres of the current 170-acre parcel of land on which the company’s wholly owned Calder Casino sits. The company may sell 15 to 20 acres of land along NW 27th Avenue in the Miami Gardens area in the future for retail development.

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