Ski-industry giant CNL lists 7 resort villages
May 23, 2013
The largest resort owner in North America is testing the market by listing seven of its resort villages — including Copper Mountain’s base village — for $142.5 million.
“We are exploring what pricing the market might deliver for that portfolio,” said Steve Rice, managing director of Florida real-estate investment trust CNL Lifestyle Co.
CNL’s portfolio includes eight Eastern ski resorts and nine Western ski areas, including Crested Butte Mountain Resort.
The seven villages — which include 426,000 square feet of commercial space in CNL’s resort sites at Copper, California’s Mammoth, Canada’s Whistler, Ontario’s Blue Mountain, West Virginia’s Snowshoe, Vermont’s Stratton and Florida beach destination Sandestin — are all fully rented and have “improved strongly and steadily” since the 2009 downturn.
Read more at The Denver Post.