![]() The initial public offering (IPO) was held on Feb. VICI Properties, which formed as a REIT in 2017, was a spinoff from Caesars Entertainment Operating Company as part of a Chapter 11 reorganization. Its triple-net portfolio includes well-known Las Vegas hotels such as Caesars Palace, MGM Grand and the Venetian Resort Las Vegas. (NYSE: VICI) is a New York-based experiential REIT that specializes in owning and operating gaming, hospitality and entertainment properties. Take a look at one REIT whose tenant base is strong and has an occupancy rate that is the envy of most other REITs, especially in tough economic times. Strong tenants that pay their rents on time and grow their business year after year make the best tenants and carry the least risk for the REIT during various economic cycles. If you’re considering purchasing a real estate investment trust (REIT), it is important to analyze the metrics of the REIT itself as well as the tenants that comprise the largest percentage of its business.
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