Mirae Asset Daewoo invests US$95 mln in Cosmopolitan of Las Vegas

SEOUL-- Mirae Asset Daewoo Co., a major brokerage in South Korea, said Thursday it has invested US$95 million in the Cosmopolitan of Las Vegas, as part of its investment drive for property assets at home and abroad.

The investment was made through seven-year mezzanine financing, which allows Mirae Asset Daewoo to invest in the hotel's debt, not equity.

The Cosmopolitan, owned by U.S. private equity firm Blackstone Group, is a 3,028-room hotel and casino in Las Vegas.

Source: Yonhap News Agency