CNL Lifestyle Properties, Inc., a real estate investment trust focused on lifestyle properties has acquired the privately held assets of three ski and mountain lifestyle properties: Vermonts Okemo, Colorados Crested Butte and New Hampshires Mount Sunapee.
CNL Lifestyle Properties is purchasing the resorts from family-owned Triple Peaks, LLC and leasing the properties back to Triple Peaks to manage the ski, golf, hospitality and conference operations under a long-term lease.
The acquisition gives Triple Peaks management additional capital to build the Red Lady Lodge at Crested Butte Mountain Resort and to move forward with construction of the Okemo Mountain Resort conference center, enhancements that will extend the four-season offerings of the two resorts. It is also expected to fund improvements at Mount Sunapee Resort in New Hampshire.
