Theme Park, Amusement Park and Attractions Industry News

CNL sees promise

‘Come to us for capital’ urges investment trust

In a relatively short time, CNL Lifestyle Properties has become America’s third-largest gated attractions owner. The real estate investment trust (REIT) has invested more than $500 million in theme parks, waterparks and FECs since 2005, building a portfolio of 25 properties across the US. So what does one of its executives make of the current economic climate in the leisure industry?

“Recent volatility in the credit markets has made it difficult for some operators to access the capital needed to fuel core operating strategies such as property improvements,” observes Curt Caffey (pictured), who oversees the attractions portfolio on behalf of the REIT.

“CNL Lifestyle Properties is well-positioned to respond to these types of market changes since it has a strong balance sheet and low leverage, enabling it to provide capital for new investments.”

CNL has formed relationships that it believes benefit the owners, operators and those who visit attractions. Long-term lease structures offered by CNL enable operators to use their capital in more effective ways.

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