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Florida trust buys Jiminy Peak resort

Associated Press / January 29, 2009
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A Florida real estate investment trust, CNL Lifestyle Properties Inc., has acquired Jiminy Peak Mountain Resort in Hancock for $27 million.

Jiminy Peak chief executive Brian Fairbank said the current management would continue to run the largest ski and snowboard destination in southern New England under a 40-year lease. Fairbank says the deal allows Jiminy Peak to enjoy the benefit of a long-term capital partnership while maintaining "business as usual."

Part of the proceeds from the sale will pay off capital debt owed by the resort, including a $3.9 million wind turbine.

CNL Lifestyle Properties owns 115 properties, including Bretton Woods Mountain Resort in New Hampshire, Crested Butte Mountain Resort in Colorado, and Okemo Mountain Resort in Vermont.

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