![]() ![]() The remaining 10% is payable in percentage rent. 17 reviews 7 of 22 Restaurants in Northfield - Bar Pub. After 2022, the rent will be increased if a tenant revenue-to-rent ratio is achieved. Under the terms of the master lease, 90% of the increased rent will be contractually fixed, increasing 2% annually until 2022. MGM Northfield Park was added to the existing master lease and will raise MGM Resorts' annual re nt payment to MGM Growth by $60 million. MGM Resorts' economic ownership stake in the o perating partnership is reduced to approximately 69% after the redemption. The gaming company also leased the real property of the casino, which was renamed MGM Northfield Park, from MGM Growth.Īs consideration for the deal, MGM Growth Properties Operating Partnership LP redeemed about 9.4 million of its units from a subsidiary of MGM Resorts, reflecting a purchase price of $275 million, subject to adjustments. MGM Resorts International closed its acquisition of the operating assets of the Hard Rock Rocksino Northfield Park in Ohio from casino real estate investment trust MGM Growth Properties LLC. ![]()
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