The M Resort in Las Vegas, Nevada real estate will have MGM Mirage as investor for the 80 acre Las Vegas mixed use development. The current developer is Anthony Marnell III. The M Resort Las Vegas is located on St. Rose Parkway and the southeast corner of Las Vegas Boulevard.
The Las Vegas resort first phase will be located on 40 acres with an Italian contemporary designed casino, resort and spa. The M Las Vegas real estate integrates a luxury collection of amenities including an outdoor entertainment venue and canyon pool, panoramic suites, oversized guest rooms, state-of-the-art convention center and a top-of-the-tower ultra lounge.
MGM Mirage has pledged to finance $160 million of a convertible note. This note has some mandatory and optional redemption provisions. The note can be converted into a 50% equity interest in The M Resort Las Vegas after 18 months if not repaid.
With a world respected gaming resort company and Anthony Marnell III developing this resort along with the quality, creativity, experience and financial strength this development will be unmatched on the South Strip.
The first phase will include 400 rooms and suites, a 70,000 square foot events center, 100,000 square foot casino, various restaurants in multiple venues, events for up to 1,000 guests and a luxurious resort spa. Excluding land, the estimated cost of this first phase is $700 million. Future phases are being designed to include mixed-use development on the remaining 40 acres
Real Estate site work on the luxury resort project has already begun. Construction work for The M is scheduled to begin in the next few weeks and its grand debut in mid-2009.
The M Resort in Las Vegas, Nevada has MGM Mirage as investor partner to luxury resort.