Fairmont Sonoma Mission Inn & Spa is a single of 25 hotels in 14 states which is aspect of a huge serious estate financial investment have confidence in acquisition.

The 226-place resort at 100 Boyes Blvd. in Sonoma is wholly owned by Watermark Lodging Have confidence in Inc., which on Might 6 declared a deal to be acquired by non-public actual estate resources overseen by Brookfield Asset Administration, a single of the world’s most significant these firms.

Beneath the arrangement, Watermark, whose Bay Space holdings are The Ritz-Carlton San Francisco and San Jose Marriott, would offer its shares in an all-income transaction valued at $3.8 billion. The deal is scheduled to close in the fourth quarter.

The Sonoma hotel past adjusted palms in mid-2013, when Fairmont offered a three-quarter stake in the house for $73.3 million to what was then termed Carey Watermark Buyers Inc. .

The resort was crafted in 1927 on the 13-acre internet site of the former Boyes Incredibly hot Springs Hotel, which was created in 1895. The vacation resort has been renovated and expanded continuously, starting in 1985 and continuing in excess of the past two a long time.

“Hotels and resorts of this scale and high-quality are difficult to replicate,” reported Lowell Baron, taking care of associate and chief expense officer in Brookfield’s Real Estate Team, in a information launch. “This portfolio is very well positioned supplied its focus in significant barrier to entry coastal destinations, gateway cities and the sunbelt.”

Chicago-primarily based Brookfield is the world’s 18th premier asset manager, according to Sovereign Wealth Fund Institute. The corporation in the 1st quarter documented about $725 billion in belongings below management in genuine estate, infrastructure, renewable ability and changeover, and personal-equity and credit rating ventures.

Brookfield currently oversees a true estate portfolio valued at $256 billion, which include 16 entire-service and 140 prolonged-stay lodges, totaling all around 16,000 rooms, according to its website.

Morgan Stanley & Co. was Watermark’s exceptional economic adviser in the Brookfield deal. Hodges Ward Elliott is Watermark’s genuine estate adviser, and Clifford Chance US and Paul Hastings are authorized counsel. Fried Frank Harris Shriver & Jacobson is lawful counsel to Brookfield. Citigroup, Lender of The united states, JP Morgan and Wells Fargo are fiscal advisers and are delivering financing for the transaction.

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