Atlantic City’s Revel Casino Hotel Sold to Brookfield Asset Management for $110 Million
Brookfield Asset Management, a Toronto-based real estate firm, has won the auction for the bankrupt and shuttered Revel Casino Hotel in Atlantic City, according to press reports. The firm bid $110 million for the property, outbidding Florida real estate developer Glenn Straub. The 1,400-room Revel closed Sept. 2, just two years after its debut. The property cost $2.4 billion to build.