Watermark Lodging Trust announces stockholder approval of acquisition by Brookfield

Watermark Lodging Trust (WLT) announced at a special meeting of stockholders approval of the proposed acquisition of WLT by private real estate funds managed by Brookfield.

Under the terms of the previously announced merger transaction, WLT common stockholders will receive cash consideration of $6.768 per Class A share and $6.699 per Class T share. The transaction is anticipated to close on or about October 21, 2022, but closing remains subject to the terms and conditions of the merger agreement and there is no assurance of the exact closing date.