Arnold & Porter Advises Orlando REIT On Major Sale of Ski & Lifestyle Properties
Washington, DC, November 14, 2016 -- Arnold & Porter LLP advised CNL Lifestyle Properties, Inc., a Maryland real estate investment trust headquartered in Orlando, Florida, in the recently announced sale to EPR Properties, a Maryland real estate investment trust, and Ski Resort Holdings LLC, a Delaware limited liability company owned by funds affiliated with Och-Ziff Real Estate, of its remaining assets, including 20 attractions properties and 16 ski and mountain lifestyle properties, located in the United States and Canada. Total consideration for the assets is approximately $830 million, payable $183 million in cash and $647 million in shares of EPR common shares of beneficial interest. The transaction is anticipated to close in the second quarter of 2017.
Arnold & Porter's legal team for CNL included Neil Goodman and Whitney Jordan for corporate issues; Joseph Howe, Cynthia Mann, Josh Scala, and Joel Deuth for tax and REIT considerations; Richard Baltz and Marianna Shelenkova for SEC issues; Frank Liss, Danielle Garten, and Katherine Clemons for antitrust issues; and Tom Stoever for environmental and ski resort issues.