Tuesday, December 14, 2010

Pacific Park Being Sold To CNL Lifestyle

The Santa Monica Daily Press is reporting that Pacific Park, located in Santa Monica, CA, is set to be sold to CNL Lifestyle Properties for $34 million. 

The amusement park has been owned and operated by Santa Monica Amusements since its opening in 1996.  If the city counsel approves the sale, it could come as soon as this evening.

CNL Lifestyle Properties is expected to keep most management already in place, much like they've done with the other parks they own.  CNL has been in the news lately due to their terminating of the lease they had with PARC Management to operate such properties as Darien Lake and Elitch Gardens, among others.

Now it looks like they will have one more park to offer potential management parties when they review CNL's portfolio.