Brookfield To Acquire Center Parcs UK From Blackstone - Quick Facts

(RTTNews) - Blackstone (BX) and Brookfield Property Partners L.P. (BPY_UN.TO, BPY) announced that a Brookfield-managed fund has agreed to acquire Center Parcs UK for an undisclosed sum from funds managed by Blackstone's private equity and real estate businesses. The transaction is due to complete by the end of July.

Center Parcs operates five short break destinations across the UK: Sherwood Forest, Nottinghamshire; Elveden Forest, Suffolk; Longleat Forest, Wiltshire; Whinfell Forest, Cumbria and Woburn Forest, Bedfordshire.

Gerry Murphy, Chairman of The Blackstone Group International Partners LLP, said: "Having bought Center Parcs in 2006 and invested in its growth, it has been an excellent investment for us. We are sure that it will go on to even greater success under new ownership. The management and employees of Center Parcs are outstanding and will take the business onto a new chapter in its story."