Canada-based Brookfield Asset Management is nearing to acquire at least four luxury hotels and a large land parcel owned by Indian hospitality company Hotel Leelaventure Ltd for about 4,500 crore rupees ($628.8 million).

The deal, which is at an advanced stage and likely to be announced within a month, will mark Brookfield’s entry into the Indian hospitality sector.

Brookfield will buy out at least four properties and a large land parcel in Agra, as well as the brand Leela.

With the divestment, Hotel Leelaventure will be able to settle down its debt with 14 lenders. The deal is expected to close early next year.