Wynn sells Encore Boston Harbor real estate assets for $1.7bn

Wynn has completed the sale of its land and real estate assets in the Encore Boston Harbor for $1.7bn. The buying company is Realty Income Corporation, which will still allow Wynn to operate Encore Boston Harbor via a triple net lease agreement worth $100m over thirty years, which has another thirty-year renewal option. Wynn states that: "The rent will escalate annually at a rate of 1.75% for the first ten years and the greater of 1.75% or CPI ...