Brookfield, which co-owns Canary Wharf's estate, has agreed to acquire Center Parcs UK for an undisclosed sum from private-equity company Blackstone.
When the transaction is complete at the end of July the company will own the five UK sites managed by Center Parcs - Sherwood Forest, Nottinghamshire; Elveden Forest, Suffolk; Longleat Forest, Wiltshire; Whinfell Forest, Cumbria and Woburn Forest, Bedfordshire.
Ric Clark, chief executive officer of Brookfield Property Group, said: “To date, Brookfield Property Group’s investment activity in the UK has focused primarily on the office and logistics market; however, our global portfolio has always encompassed a broader mix of asset types including property deriving its returns from leisure activities.
Martin Dalby, chief executive of Center Parcs, said: “This announcement marks the beginning of an exciting new chapter for Center Parcs.
"From the first time we met, Brookfield has demonstrated a real understanding of our business and I am absolutely convinced that we can work together to achieve our strategic goals. I believe the future of Center Parcs is in very good hands with Brookfield.”