Hello from SNOWY Crested Butte,
Jiminy Peak Mountain Resort just got acquired by CNL Lifestyle Properties, Inc. to sell and lease back the western Massachusetts ski and snowboard resort. CNL Lifestyle Properties, a real estate investment trust (REIT), has acquired all of the ski resort’s commercial assets for a total of $27 million and signed a 40-year operating lease-back with Jiminy Peak Mountain Resort. This is essentially the same deal CNL did with Crested Butte Mountain Resort a few months back. Seems CNL has some serious cash to keep their acquisition ball rolling.
CNL’s growing portfolio of ski resort properties includes 14 ski areas. The company’s sale-lease back formula has led to acqusitions of Okemo Mountain Resort in Vermont, Sugarloaf and Sunday River in Maine, and Mount Sunapee, Loon Mountain and Bretton Woods, all in the state of New Hampshire.
In the Western US, CNL has acquired Summit-at-Snoqualmie in Washington, our very own Crested Butte Mountain Resort, Utah’s Brighton Ski Resort, Cypress Mountain outside of Vancouver, B.C., and Mountain High Resort, Northstar-at-Tahoe and Sierra-at-Tahoe, all in California. And, CNL has acquired a majority interest in ski resort village developments at Copper Mountain (Colo.), Mammoth Mountain (CA) Snowshoe Mountain Resort (W.V.), Stratton Mountain (VT) Northstar-at-Tahoe (CA), Blue Mountain (Ontario) and Whistler Creekside in British Columbia Canada.
Glad to see CBMR’s new owners are flush with cash and hot on the "deal trail".
Thanks for visiting today,
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