Brookfield Acquires Resorts In $175M Property Transfer

Law360, New York (November 29, 2011, 7:10 PM EST) -- Resort and hotel developer Kerzner International Holdings Ltd. agreed to transfer the equity of three of its Bahamian and Mexican assets to lender Brookfield Asset Management for $175 million of debt, the company announced Tuesday.

Brookfield will acquire an ownership interest in Atlantis Paradise Island, a 2,317-room, ocean-themed destination resort in The Bahamas and One&Only Ocean Club and One&Only Palmilla, luxury resorts located in the Bahamas and Los Cabos, Mexico, respectively. In return, the lender will exchange about $175 million of debt from a 2006 loan...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.