This file will be updated with the latest information as it becomes available. Oak Street Real Estate Capital’s acquisition of these buildings strengthens its foothold in the gaming sector and shows the Lakewood area’s desirability as a lucrative market.The Denver Police Department and Lakewood Police Department responded to a shooting spree that spanned across the two cities on Monday night. These transactions highlight the gaming industry’s ongoing expansion and transformation, with private equity real estate firms recognizing the value and potential of casino sites. Continued expansion in the Gaming Industry The Macau Casino is located two miles north of the Palace and Chips casino at 9811 S. Oak Street Real Estate Capital previously purchased Maverick Gaming’s Macau Casino, which spans 10,747 square feet, for $22.1 million, or nearly $2,056 per square foot. This is not the first time Maverick Gaming and Oak Street Real Estate Capital have worked together in Lakewood. The current sale represents a big return on investment for Maverick Gaming, as the property sold for a large sum in comparison to its initial acquisition price.

Previous Purchase and SaleĪccording to Pierce County property records, Maverick Gaming purchased the Palace and Chips casino in 2016 for $4.5 million, or nearly $208 per square foot. According to its website, the casino has gaming tables, a poker area, a bar and a restaurant. The facility, which is conveniently located near the Interstate 5 ramp at South 84th Street and adjacent to a 7-11 convenience store, offers a variety of amenities. Casino Layout and LocationĪccording to Pierce County records, the Palace and Chips casinos are located at 81 Tacoma Mall Blvd., respectively, and span 7,817 and 13,807 square feet. The property was purchased by an entity associated with Oak Street Real Estate Capital, a private equity real estate firm based in Chicago, Illinois. The sale of the 21,624-square-foot casino for $27 million, or approximately $1.248 per square foot, was documented in Pierce County public records. Maverick gambling, a major developer and owner of luxury hotels with gambling facilities, has successfully sold its Lakewood, Washington-based Palace and Chips casino.

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