CNL Lifestyle Properties Declares NAV of $3.05 Per Share

The board of directors of CNL Lifestyle Properties, a publicly registered non-traded real estate investment trust, unanimously approved an estimated net asset value of $3.05 for the company’s common stock, as of December 31, 2015.

The company’s most recent two NAV determinations were $5.20 per share and $6.85 per share as of December 31, 2014 and December 31, 2013, respectively.

The company engaged CBRE Capital Advisors to assist the board and the company’s valuation committee in establishing a new NAV per share. The company previously engaged the independent investment banking firm in connection with its estimated NAV per share for 2013 and 2014.

In December 2015, the company’s board declared a special distribution in the amount of $1.30 per share. The special distribution totaled approximately $422.7 million.

CNL Lifestyle Properties, which continues to work with Jefferies LLC to evaluate its strategic alternatives, liquidated more than $1.3 billion of assets in 2015.

The company’s investment portfolio currently comprises interests in 49 properties, including 23 ski and mountain lifestyle properties, 20 attractions properties, five marinas properties and one vacant land asset.