Thursday, December 04, 2008

CNL Goes Skiing
CNL Lifestyle Properties REIT just bought three ski resorts, Crested Butte in Colorado, Okemo Mountain Resort in Vermont and Mount Sunapee Ski Resort in New Hampshire. It will pay $132 million for the three properites, using $82 million in cash and the balance in seller financing. I guess this explains the drawdown of Lifestyle's $100 million line of credit last month.

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