MGM Growth Properties Operating Partnership LP, founded in 2016 and headquartered in Las Vegas, Nevada, is a prominent real estate investment trust (REIT) focused on the acquisition and management of diversified casino resort properties. The company's primary purpose is to engage in leasing these properties to its parent company, MGM Resorts International, providing a stable revenue stream through long-term, triple-net leases.
Company overview and issue history are AI generated, and should not be cited or relied on without verification.
Since its inception, MGM Growth Properties Operating Partnership has actively issued bonds to finance its growth strategy. Notably, the company issued $500 million in senior unsecured notes in 2020 with a yield of 4.25%, which was among its largest issuances aimed at refinancing existing debt and funding property acquisitions. In 2021, it launched a $350 million bond offering that received significant investor interest, reflecting the company's robust credit profile within the gaming and hospitality industry. As of October 2023, the current bonds showcase competitive yields compared to peers, underlining the company's solid financial standing and commitment to investor returns.