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Brookfield Buying U.K. Center Parcs Resorts From Blackstone

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Brookfield Asset Management Inc. agreed to buy resort operator Center Parcs from Blackstone Group LP for a price that people familiar with the matter said last week is about 2.4 billion pounds ($3.7 billion).

The acquisition would be made through Brookfield’s publicly traded subsidiary, Brookfield Property Partners LP, and a fund managed by the parent, and is due to be completed by the end of July, according to a statement on Tuesday. The purchase price wasn’t disclosed. Center Parcs U.K. Group runs five resorts in the U.K. that include hotels and countryside activities from sailing to swimming.