VICI Announces $550M Investment with Chelsea Piers, Cabot 

VICI Properties has acquired the leasehold interest of Chelsea Piers and agreements with Cabot for loans in Saint Lucia and Scotland, amounting to nearly $550 million at an 8% yield.  

The Chelsea Piers deal marks VICI’s first transition from loan investment to real estate ownership, offering 780,000 square feet with sports facilities and event spaces. The Cabot Saint Lucia project includes a golf resort, while the Cabot Highlands in Scotland entails a redevelopment plan featuring golf courses and amenities.  

“We are honored to expand our partnerships with two of the world’s best experiential place makers and operators, Chelsea Piers and Cabot,” said Edward Pitoniak, CEO of VICI, “Our total commitment of nearly $550 million of capital expresses our conviction in the ability of Cabot and Chelsea Piers to create indelible experiences that lead, for decades to come, to enduring relationships with their very valuable customer bases.”