Brookfield has exchanged contracts to buy Oaktree Capital Management’s serviced apartment business, (ASAP Quality Accredited Operator Member) SACO, for around £430m.

Brookfield made the offer in October last year, and fought off competition from other investors – including Mapletree and Invesco – for the opportunity. This is Brookfield’s first foray into the serviced apartment sector, and is the largest serviced apartment investment deal in the UK to date.

 

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