Northstar Guests, Homeowners Winners In CNL Deal

To submit a news item send an email to press@mountainnews.com.

The Industry Report is published by Mountain News Corp., which also publishes OnTheSnow.com

Editor-In-Chief:
- Craig Altschul

Executive Editor:
- Roger Leo

President & Publisher:
- Rob Brown

Managing Director:
- Chad Dyer

Advertising Information:
- sales@mountainnews.com

Subscriptions:

-	Subscribe To Industry Report
-
-	What is RSS?

Archives:
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008

Recent Posts:

-	Destination Outlook: 'A Socially Embedded Frugality'
-	'Drive To' Outlook: Half Full Or Half Empty?
-	Economic Outlook: Cloudy, But Periods Of Sunshine
-	Weather Outlook: 'Oh, My'
-	OnTheSnow.com Visitors Outlook: 'We'll Ski, Ride More'
-	The Wildcard: Will Swine Flu Keep Families Home?
-	The 'New' Industry Report
-	SPONSOR: Reach UK Skiers, Riders At Birmingham Ski And Board Show
-	Innsbruck: Selling A Safari In A City That Sells Itself
-	The Good Old Summer Time That Wasn't; But, Was It Habit Forming?

« Previous Story | The Industry Report Home Page | Next Story »

Northstar Guests, Homeowners Winners In CNL Deal

By Craig Altschul
February 18, 2008

The apparent winners in CNL's acquisition of 80,000 square feet of retail property at the Northstar Commercial Village near Lake Tahoe are resort guests and homeowners. CNL Income Properties is a R.E.I.T focused on lifestyle properties that has made a major splash into the mountain resort pool over the past few years, including ownership of Northstar.

"It's an exciting milestone because it means CNL as owner, and Booth Creek as a superb management partner, now control the future of one of the most vibrant, diverse, and fun villages you'll find anywhere in the North American mountain resort scene," CNL's Steve Rice told the IR.

"Since CNL also owns the mountain, with our partner Booth Creek responsible for day-to-day operations, our interests are aligned, with Northstar guests and homeowners set to benefit for many years to come."

The transaction includes 25,600 recently built square feet on the ground floor of two neighboring buildings, almost fully committed with condos, shops, and restaurants. The Ritz Carlton is in process of developing a hotel on the site.

« Previous Story | The Industry Report Home Page | Next Story »

Email To A Friend