Fontainebleau Las Vegas secures $2.2b in financing to complete construction

A partnership between Fontainebleau Development, a builder, owner and operator of luxury hospitality, commercial and retail properties, and Koch Real Estate Investments (KREI), the real estate investment arm of Koch Industries, has secured — with J.P. Morgan as administrative agent — a $2.2 billion construction loan to complete Fontainebleau Las Vegas, the anticipated 67-story hotel, gaming, meeting and entertainment destination coming to the north end of the Las Vegas Strip.

The financing, a monumental achievement for both companies following their joint acquisition of the property in 2021, keeps construction on schedule and paves the way for Fontainebleau Las Vegas to make its global debut in fourth quarter 2023.

Fontainebleau Las Vegas spans 25 acres and 9 million square feet in a coveted location on the northern end of the Las Vegas Strip directly adjacent to the Las Vegas Convention Center, and will feature approximately 3,700 luxury hotel rooms; 550,000 squar