Private equity firms Ascendant Capital and Oaktree Capital completed the acquisition of a 6.75% stake in Watermark Lodging Trust, a real estate investment trust, for $200m. “This transaction provides us with additional operational and financial flexibility as we navigate the current economic environment, strengthens our balance sheet and creates a pool of capital with which we can opportunistically pursue growth,“ Michael Medzigian, Watermark Chairman and Chief Executive Officer.