Venable acted as Maryland counsel to Inland American Real Estate Trust, Inc. in connection with its recent spin-off and NYSE listing of Xenia Hotels & Resorts, Inc. (Xenia). Xenia is an independent real estate investment trust that invests in premium hotels, with a focus on the top 25 lodging markets and key leisure destinations in the United States. The transaction closed on February 3, 2015. In connection with the spin-off and listing, Venable is representing Xenia as Maryland counsel with respect to its modified "Dutch Auction" self-tender offer to purchase for cash up to $125 million in value of shares of the Xenia's common stock.
Venable's corporate team was led by Sharon A. Kroupa, who was assisted by Christopher W. Pate and Gabriel M. Steele.