VENU completes $60 million sale-leaseback for McKinney amphitheater land

VENU says it has closed the $60 million land deal intended to help finish McKinney’s Sunset Amphitheater, moving the financing from an announced plan to a completed transaction.

The company announced the closing Oct. 21. STORE Capital bought the land beneath the amphitheater and adjoining parking garage in a sale-leaseback, an arrangement in which the seller leases the property back.

VENU expects to use the proceeds to repay about $20 million in short-term financing from Ryan, LLC, and to pay for the remaining construction.

For concertgoers, the opening timeline remains an estimate: VENU is targeting January through March 2027 for the 20,000-capacity McKinney venue. The announcement does not establish a specific opening day.

Source: VENU’s Oct. 21 announcement, distributed by Business Wire.

https://www.businesswire.com/news/home/20261019759021/en/