Brookfield Property Partners LP announced plans to acquire holiday resort group Center Parcs, a UK-based company, which expects more than two million guests in 2015.

Purchase plans do yet detail a specific sum, but the transaction is set for completion towards the end of July with funds managed by The Blackstone Group International Partners’ private equity and real estate business.

Center Parcs operates five destinations: Sherwood Forest, Nottinghamshire; Elveden Forest, Suffolk; Longleat Forest, Wiltshire; Whinfell Forest, Cumbria and Woburn Forest, Bedfordshire.

Based on a concept originating in Holland in 1967, each location fits into 400 acres of protected woodland, featuring a holiday village to reflect the forest design.

“Center Parcs’ villages are high-quality, popular short break destinations for friends and families, with loyal guests and outstanding service,” said Ric Clark, chief executive officer of Brookfield Property Group. “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.”

Center Parcs has blossomed since Blackstone purchased it in 2006. The new ownership will mark a fresh chapter for Brookfield, which has primarily focused on the UK’s office and logistics market.

“We are sure that it will go on to even greater success under excellent new ownership,” noted Gerry Murphy, chairman of The Blackstone Group. “The management and employees of Center Parcs are outstanding and will take the business onto a new chapter in its story.”