Brookfield Nears $425 Million Sale of Palm Beach’s PGA National

Brookfield Asset Management Ltd. is in advanced talks to sell the PGA National Resort in Palm Beach Gardens to Henderson Parkas property investors snap up big Florida hotels.

The transaction values the resort at $425 million, according to people familiar with the matter who asked not to be identified citing confidential information. The deal isn’t final and could still fall through, the people said.

The price works out to about $1.3 million per room, an eye-popping number that reflects the property’s large footprint and the strong demand for private golf courses in the Palm Beach area, said one of ...