Watermark Lodging Trust has entered into a definitive agreement with private real estate funds managed by Brookfield, under which Brookfield will acquire all of the outstanding shares of common stock of Watermark for $6.768 per Class A share and $6.699 per Class T share in an all-cash transaction valued at $3.8 billion, including the assumption of debt and preferred equity. The purchase price represents a premium of more than 7.5 percent from the most recently published Net Asset Values per share as of Dec. 31, 2021, of $6.29 per Class A share and $6.22 per Class T share.
The Watermark portfolio, built during a decade of investing and intensive asset management, is comprised of high-quality lodging assets consisting of 25 properties totaling more than 8,100 rooms. These luxury and upper-upscale assets are located in drive-to leisure destinations and gateway urban cities across 14 states with a high concentration in the Sun Belt region.
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