Sale of remaining assets

CNL Lifestyle Properties, Inc.

Our attorneys advised CNL Lifestyle Properties, Inc., a Maryland real estate investment trust headquartered in Orlando, Florida, in the 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 US$830 million, payable US$183 million in cash and US$647 million in shares of EPR common shares of beneficial interest. The transaction is anticipated to close in the second quarter of 2017.

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