- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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