CNL mulls sale of Sugarloaf, Sunday River
Photo / David McLain for Sunday River
A 2008 photo overlooking the Jordan Bowl Express at Sunday River in Newry.
CNL Lifestyle Properties, a Florida-based real estate investment trust, is looking to sell Sugarloaf, Sunday River and its 14 other ski resorts as it nears the end of its projected life span.
The Associated Press reported that CNL Lifestyle is evaluating whether it should sell its properties to one buyer. Its other properties include theme parks and marinas. CNL Financial Group’s senior managing director told the AP that a private buyout is one possible alternative.
If sold, there wouldn't be a noticeable impact on Sugarloaf, Sunday River and other properties because their long-term leases will remain intact under new ownership.
Source: The Associated Press
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