On Friday, December 23, the founders of the long-postponed Fontainebleau Las Vegas project publicly announced that they have acquired a $2.2 billion construction loan to complete construction of the Fontainebleau Las Vegas resort & casino in the fourth quarter of 2023.
Obtaining a construction loan:
A new union formed in 2021 between Fontainbleau Resorts LLC, a leading Florida-based owner, builder and operator in the hospitality, commercial and retail industry, and Koch Real Estate Investments (KREI), the real estate subsidiary of Koch Industries based in Dallas, Texas, is responsible for continuation of the project.
The companies together with J.P. Morgan as its administrative agent, obtained a $2.2 billion construction loan to finish the construc…