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CNL Lifestyle focuses on ski properties as it evaluates strategic alternatives

July 11, 2016

 

 


 

CNL Lifestyle focuses on ski properties as it evaluates strategic alternatives

Friday, July 08, 2016 9:59 AM ET | SNL

CNL Lifestyle Properties Inc. said that following recently closed and planned divestments, its portfolio will be made up solely of 43 ski and mountain lifestyle properties and attractions.Ski equipment in high mountains in snow at winter

The company added that it continues to work with its financial adviser, Jefferies LLC, to evaluate strategic alternatives in order to provide liquidity to stockholders. As the company continues this process, it may consider changing its quarterly distribution policy of 5 cents per share.

In reporting its recent operational activities, the company said that it completed the approximately $112.5 million sale of 17 marina properties that it agreed to sell in May 2015. It netted about $86.3 million in cash from the portfolio.

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