05:05 PM EST, 12/01/2025 (MT Newswires) -- Realty Income ( O ) said late Monday it will make an $800 million perpetual preferred equity investment in the CityCenter Las Vegas properties, including the ARIA Resort & Casino and Vdara Hotel & Spa.

The properties are held by Blackstone Real Estate funds, which will retain full common equity, while MGM Resorts International will continue operations, the company said.

This is Realty Income's ( O ) second Las Vegas collaboration with Blackstone, following the 2023 Bellagio deal, prompting the company to raise its 2025 investment outlook to over $6 billion, it added.

The deal is expected to close on Dec. 9, pending customary approvals.