Blackstone Forms $2.9B JV to Leash Great Wolf Resorts Controlling Interest

Blackstone Real Estate will acquire a 65% controlling interest in Great Wolf Resorts Inc. Blackstone affiliate Blackstone Real Estate Partners IX formed a $2.9-billion joint venture with Centerbridge Partners LP, the entertainment and family resort company’s current owner.

Great Wolf operates 18 resorts around the country. “We have been very impressed by the evolution and growth of the company under Centerbridge’s ownership,” said Blackstone Real Estate’s Tyler Henritze. “With the leadership of its talented management team, Great Wolf has enriched the guest experience and opened seven new lodges since 2015. We look forward to investing in these properties to further deliver for guests and grow the company.”

Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. are financial advisors to Great Wolf, and Simpson Thacher & Bartlett LLP is legal counsel to Great Wolf. Fried, Frank, Harris, Shriver & Jacobson LLC is Blackstone’s legal counsel.

Pictured: Great Wolf Lodge, Garden Grove, CA (Shutterstock)

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