The Globe and Mail reports in its Friday edition that Brookfield Asset Management has bought Toronto's Sheraton hotel in a blockbuster $335-million deal that is the largest transaction for a single hotel in Canada. The Globe's Jacqueline Nelson and Rachelle Younglai write that the asset manager will buy the Sheraton Centre Toronto Hotel from Marriott International through a real estate fund in a transaction that marks Brookfield's first major foray into the Canadian hotel market. The company will now have a presence in its home market after having built up a base of hotels in the United States, as well as some short-stay holiday properties in Britain. It is the most lucrative hotel deal in the country, according to real estate services company CBRE, which acted as Marriott's broker. The next-largest deal was the Westin Bayshore hotel in Vancouver for $280-million in 2015, and last year's sale of the Four Seasons in Toronto for $225-million. The four-star Sheraton Centre hotel, with 1,372 rooms, was first put on the auction block two years ago. The deal is somewhat unusual because the City of Toronto owns the land the hotel is on, and the sale involved a long-term ground-lease agreement.