Operator News
US – Churchill Downs sells over 100 acres of land near Calder Casino
By William - 20 June 2022
Churchill Downs has closed on the sale of 115.7 acres of excess land near Calder Casino for $291m to Link Logistics, owners of logistics real estate assets established in 2019 by Blackstone.
The operator is planning to use certain proceeds of the sale to purchase property as part of the previously announced Peninsula Pacific Gaming acquisition and to invest in other replacement properties that qualify as Internal Revenue Code §1031 transactions.
Churchill Downs now retains ownership of approximately 54 acres of land on which the wholly-owned Calder Casino sits and ‘may’ sell 15-20 acres of land along NW 27th Ave. in the Miami Gardens area in the future for retail development.
