Brookfield completed the acquisition of Watermark Lodging Trust for $3.8bn.

Brookfield, an asset management firm, completed the acquisition of Watermark Lodging Trust, a real estate investment trust for $3.8bn. "We are very pleased to reach this agreement with Brookfield, as it achieves our longer-term objective of a liquidity event, while providing our stockholders with an immediate and certain cash value. The transaction's premium to our most recently published Net Asset Values per share represents the strong execution of our entire team who have demonstrated the ability to find innovative solutions to address the challenges brought on by the Covid-19 pandemic. I would like to thank the members of our Watermark team, across all functions, for their dedication and hard work over the past several years," Michael Medzigian, Watermark Chairman and CEO.