An affiliate of Brookfield Asset Management Inc. is negotiating to sell the 1,000-room Diplomat Beach Resort in Hollywood, Fla., to real estate developer Jeff Soffer, Bloomberg News reported, citing people with knowledge of the matter.
The sale price being discussed could not be determined, but any deal would potentially value the resort at less than $1 billion, including debt, the people told the news outlet.
The property, which includes more than 200,000 square feet of meeting space, is owned by Brookfield Property Partners LP.
A representative for Brookfield did not comment on the matter, while a representative for Soffer did not respond to requests for comment, according to Bloomberg.
Separately, the Commercial Observer reported that Brookfield signed a deal to lease 481,000 square feet of space on floors 25 to 37 of its 58-story Two Manhattan West property in New York City to Cravath Swaine & Moore LLP. The corporate law firm will anchor the roughly 2 million-square-foot office tower when it relocates its headquarters from SL Green Realty Corp.'s 825 Eighth Ave. building, better known as Worldwide Plaza, in New York City in 2024.
Spokespeople for CBRE and Cushman & Wakefield, which represented Cravath and Brookfield, respectively, on the transaction, did not immediately respond to requests for comment. Brookfield declined to disclose the lease term and asking rent, according to the Commercial Observer.
