Brookfield Agrees To Sell Florida Resort For $835M: Report

by Shivani Kumaresan, Benzinga Staff Writer

February 3, 2023 6:09 AM | 1 min read | Make a Comment

Brookfield Asset Management Inc BAM reportedly plans to sell the Diplomat Beach Resort in south Florida for $835 million.
Trinity Investments, the Honolulu-based real estate investment firm, and Credit Suisse Asset Management, have agreed to buy the hotel, the Wall Street Journal reported.
The Diplomat has about 200,000 square feet of meeting space and 1,000 rooms.
The oceanfront property will make renovations in addition to the $90 million renovation currently under Brookfield.
The property is expected to be managed by Hilton Worldwide Holdings Inc HLT under its Curio brand, the report added.
Also Read: Hilton Hotels Launches New Brand 'Spark By Hilton'
Price Action: BAM shares closed higher by 2.65% at $33.37 on Thursday.