Orlando Business Journal Date: Thursday, April 7, 2011, 2:19pm EDT
Read more: CNL Lifestyle issues $400M in bonds | Orlando Business Journal
CNL Lifestyle Properties Inc. on April 5 closed on a $400 million bond offering to qualified institutional buyers.
The Orlando-based real estate investment trust said the notes will mature on April 15, 2019, and bear interest at a rate of 7.25 percent annually, payable semi-annually in cash in arrears on April 15 and Oct. 15 of each year, beginning this October.
CNL expects to complete its equity offering and close to new investors on April 9.
CNL Lifestyle Properties, which owns 150 properties in the United States and Canada, specializes in the acquisition of ski and mountain resorts, attractions, golf, marinas, senior living and additional lifestyle properties.
The Orlando-based real estate investment trust said the notes will mature on April 15, 2019, and bear interest at a rate of 7.25 percent annually, payable semi-annually in cash in arrears on April 15 and Oct. 15 of each year, beginning this October.
CNL expects to complete its equity offering and close to new investors on April 9.
CNL Lifestyle Properties, which owns 150 properties in the United States and Canada, specializes in the acquisition of ski and mountain resorts, attractions, golf, marinas, senior living and additional lifestyle properties.
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