Mandalay Bay and MGM Grand Sold: MGM Growth Properties and Blackstone Real Estate Income Trust, Inc. have announced they have entered into a definitive agreement to form a new joint venture to acquire the Las Vegas real estate assets of the Mandalay Bay and MGM Grand for $4.6 billion. In addition, BREIT will purchase $150 million in MGP Class A shares. MGP will own 50.1% of the joint venture, and BREIT will own 49.9%. At closing, MGM Resorts International will enter into a long-term triple net master lease for both properties and provide a full corporate guarantee of rent payments….