Xenia Hotels & Resorts has acquired a fee-simple interest in three boutique hotels for $245 million. Located in Portland, Ore., Santa Barbara, Calif., and Philadelphia, the properties will be managed by Kimpton Hotels & Restaurants.
A $245 million catastrophe bond has been placed by Aon Benfield Securities to guard Tokio Marine & Nichido Fire Insurance against earthquake losses in Japan. The Kizuna Re II Ltd. bond follows the 2011 issuance of the Kizuna Re Ltd. bond, which was placed for the same insurer by Aon Benfield Securities.
AEI and Pattern Energy Group have completed a $245 million financing deal for Parque Eolico El Arrayan's 115-megawatt wind project in Chile. The project, which is co-owned by AEI, Pattern and Antofagasta Minerals, is slated to go online in early 2014.
The City Council of Lansing, Mich., gathered Monday evening to question developers of a proposed $245 million casino in the city. The Sault Ste. Marie Tribe of Chippewa Indians is looking to build the off-reservation casino next to the Lansing Center.