VICI Properties Inc. (VICI) Strengthens Caribbean Portfolio with Carambola Beach Resort Acquisition

VICI Properties Inc. (NYSE:VICI) is one of the best dividend stocks yielding at least 5% to buy according to hedge funds.

VICI Properties Inc. (VICI) Strengthens Caribbean Portfolio with Carambola Beach Resort Acquisition

On June 15, VICI Properties Inc. (NYSE:VICI) announced plans to expand its portfolio by acquiring the iconic Carambola Beach Resort in St. Croix, US Virgin Islands. The company has also entered into a long-term triple-net agreement with Club Med as part of a planned redevelopment effort. The company is to fund the comprehensive redevelopment of the 150 key properties, with a view to transforming them to meet Club Med Exclusive Collection standards.

The redevelopment effort is to begin in the summer with a planned reopening in the fourth quarter of 2027. Once renovated, the resort is to become part of the Club Med Exclusive collection brand of premium all-inclusive resorts.

VICI Properties Inc. (NYSE:VICI) is an experiential Real Estate Investment Trust (REIT) that owns and acquires market-leading destination assets, including casinos, hotels, and entertainment facilities. It acts as a landlord rather than an operator, collecting highly predictable rental income from tenants under long-term leases.

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