Publications

Transactions

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

CNL Lifestyle sells two recreation portfolios for $800m

by Andrea Waitrovich

EPR Properties has agreed to buy the Northstar California Ski Resort near Lake Tahoe, a portfolio of 15 waterparks and amusement parks, and five small-family entertainment centers from CNL Lifestyle Properties Inc. for approximately $456 million. Additionally, EPR Properties has agreed to provide approximately $244 million of five-year secured debt financing to OZRE for the purchase of 14 CNL Lifestyle ski properties valued at approximately $374 million. EPR Properties’ aggregate investment in the two transactions is projected to be approximately $700 million. The REIT invests in properties in the entertainment, recreation and education segments. During 2015, CNL announced plans to exit the snow resort business, selling more than a dozen ski resorts from Maine to California. I

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?