Resort REIT Preps Deal to Give Brookfield Handle in Individual bankruptcy

Hospitality Investors Have confidence in Inc. is nearing a offer that would hand management of the financial debt-laden resort operator to Brookfield Asset Management as portion of a pre-packaged personal bankruptcy, in accordance to men and women with awareness of the make any difference.

Hit, which owns about 100 resorts across the U.S., has been receiving guidance from legislation agency Proskauer Rose and financial investment financial institution Jefferies Financial Team Inc. on the restructuring talks, stated the people, who asked not to be recognized discussing confidential discussions. The true estate investment decision rely on reported in a regulatory filing last 7 days that it was negotiating with Brookfield, its greatest investor, in excess of a possible Chapter 11 submitting.

Reps for Hospitality Investors Rely on and Proskauer didn’t react to a ask for for remark, whilst associates for Brookfield and Jefferies declined to comment.

Karen J. Simmons

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