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Center Parcs bought by Canary Wharf owner

A chain of holiday park resorts has been snapped up in a £2.4bn deal. Canadian investment firm Brookfield has bought Center Parcs UK - which is separate from Center Parcs Europe – from Blackstone, a private equity firm that acquired the businesses for a reported £1.1 billion in 2006. Center Parcs has conference and events facilities sites at Sherwood Forest; Elveden Forest; Longleat Forest; Whinfell Forest; and Woburn Forest. The deal will be signed off next month. Brookfield recently completed the takeover of London's Canary Wharf estate with the Qatar Investment Authority. Its other investments include interests in shopping malls in the United States and Brazil as well as the Hard Rock Hotel and Casino in Las Vegas. Chief executive Ric Clark said: "Center Parcs' villages are high-quality, popular short break destinations for friends and families, with loyal guests and outstanding service. "Although these resorts are already producing steady streams of cash flow supported by nearly full occupancy year-round, we see compelling opportunities to grow the business and enhance our investment returns."