CNL Lifestyle Properties has been trying to find buyers since March 2015
When CNL Lifestyle Properties announced it was putting its entire portfolio of mountain properties— including 15 ski resorts, a sightseeing tram and multiple ski area villages — up for sale, it was heralded as potentially being the largest ever ski industry transaction if they went to the same buyer. But the exit strategy that was supposed to be in place by the end of 2015 never materialized, and instead, CNL announced it would update investors some time during the first quarter of 2016 about what its plans are now.
So with the self-imposed deadline having come and gone, Curbed Ski decided to investigate what is standing between these resorts and new owners.
Blue Vault is just what advisors need to size up the different offerings in the nontraded REIT market. Just as importantly, it’s what the industry needs to encourage best practices among REITs.