LiUNA Partners with Virgin Hotels to acquire Hard Rock Las Vegas
Virgin Hotels, the lifestyle hotel brand by Virgin Group founder Sir Richard Branson, in partnership with a group led by Juniper Capital Partners and Fengate Real Asset Investments along with their partners Dream, Cowie Capital Partners, and other private investors, has purchased the Hard Rock Hotel & Casino in Las Vegas from a Brookfield-managed private real estate fund in a transaction that closed today. The group plans to open a reconceptualized and revitalized property, the Virgin Hotels Las Vegas, in the late fall of 2019. The Virgin Hotels brand's entrance into the entertainment capital of the world is an exciting development - one that will see innovative design fused with irresistible amenities in order to give guests experiences that will surprise and delight. Fengate is managing its investment on behalf of the Laborers' International Union of North America's (LiUNA) Central and Eastern Canada Pension Fund. "LiUNA is pleased with our strong working team behind this strategic investment, and we are very proud that the highly-skilled brothers and sisters of LiUNA will be a part of building this extraordinary new Virgin Hotels in Las Vegas," said Joseph Mancinelli, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. Located just off the famous Las Vegas Strip, Virgin Hotels Las Vegas will be a destination for locals and guests alike, offering premier food, beverage, and entertainment experiences. To learn more about Virgin Hotels Las Vegas and other future developments, please visit https://development.virginhotels.com/.