Deutsche Bank Sells The Cosmopolitan to Blackstone

No one said a glitzy luxury hotel in Vegas would come cheap. The New York Times reports that Deutsche Bank will sell The Cosmopolitan of Las Vegas to Blackstone Group for a whopping $1.73 billion in cash. One of the city's most expensive -- and most luxurious, and newest -- properties, The Cosmopolitan will be Blackstone's first notable gambling investment. Said Tyler Henritze, a senior managing direct at the firm, "As a significant investor in the hospitality sector Blackstone recognizes the value and potential in the Cosmopolitan and Las Vegas and looks forward to working to build on the success to date." See more pics of what Blackstone has just landed for itself after the jump. [The New York Times]