Encore Boston Harbor
> Encore Boston Harbor
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mgolenzer@viclen.com

Wynn Resorts announced the completion of a planned sale of land and other real estate assets at its Encore Boston Harbor resort casino for $1.7 billion in cash to Realty Income Corp. Wynn will continue to operate the Encore Boston Harbor five-star resort via a sale-leaseback arrangement with Realty Income, the San Diego real estate investment trust. The lease is valued at $100 million annually for a 30-year term. Rent at the property will escalate at a 1.75% annual rate for the first 10 years of the lease.