Every real estate deal involves some level of risk. When VICI Properties was looking to acquire the Venetian Resort in Las Vegas at a price of $4 billion, they hired EBI Consulting to assess the condition of the property. As the largest building in the U.S., the Venetian Resort, along with the Venetian Expo and Convention Center, comprised 17 million square feet. VICI needed a quick and thorough acquisition assessment that required EBI to deploy a team of 36 expert consultants and professionals to complete the work within the desired timeline. EBI delivered, providing VICI with:
- A comprehensive understanding of the current condition and maintenance practices of the physical assets of the property
- A projection of costs for annual reserves on the next several years
- An energy audit that identified potential energy savings measures and the actual cost savings that could be achieved
Listen to EBI’s Rusty Gordon, VP of Real Estate Specialty Services, summarize the project and the important role EBI plays in commercial property acquisitions.