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CNL Properties Inc. to buy Big Sky Resort in Montana

October 17, 2008 /

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Brighton Ski Resort’s owner, CNL Properties Inc., has agreed to buy Big Sky Resort in Montana for $74 million.

According to a filing this month with the U.S. Securities and Exchange Commission, a real estate investment trust made a loan to current Brighton operator Boyne USA Inc. in the amount of $68 million.

Terms of the loan, set in September, require monthly payments for two years at an interest rate of 12 percent. Documents indicate that collateral for the loan are assets related to the operation of the Big Sky resort, which is located halfway between West Yellowstone and Bozeman.

Full Story: http://deseretnews.com/article/0,5143,705255885,00.html

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