Libeskind’s Crystals Sells for $1.1 Billion

Description

Two big retail investors made a bet Friday on a growing tourism market on the Strip.

In a widely rumored deal, Invesco Real Estate of Atlanta and Indianapolis-based Simon Property Group officially entered into a $1.1 billion agreement to buy The Shops at Crystals. The 324,000-square-foot luxury mall is part of CityCenter, which MGM Resorts International owns and operates through a 50-50 joint venture with Dubai World.