The Sheraton Centre Hotel on Queen Street opposite City Hall been purchased in a $335-million deal by Brookfield Asset Management. The 115 year old firm with headquarters on Bay Street calls itself an Alternative Investment Asset Manager. The seller was Marriott International. It represents the largest-ever single hotel transaction in Canadian history, said CBRE Canada, which acted as the broke. The purchase also marks Toronto-based Brookfield’s first push into the hospitality sector at home. The alternative asset management conglomerate’s hospitality portfolio has largely been focused on the U.S., but also includes assets in the U.K. and the Atlantis Hotel in the Bahamas.
