Press release:
CNL Lifestyle Properties has entered into a purchase and sale agreement with Kansas City-based EPR Properties for the sale of its portfolio of water parks and amusement parks.
Kieran Burke, CEO of Premier Parks, LLC, which manages the day to day operations of Darien Lake for CNL, and would continue to do so under a long-term lease agreement with EPR if the sale closes, stated “Even though the park may be sold, it’s really business as usual at the park. There will be no changes in park staff or operations.” commented Burke.
Premier Parks, which operates 8 parks for CNL throughout the US, took over management of Darien Lake after the 2014 season. During Premier Parks’ management of the 2015 and 2016 seasons, Darien Lake added several new rides to the park including the addition of Rolling Thunder, Brain Drain, and RipCurl Racer, as well as more concerts and increased value for season pass holders. In that time, the park has experienced meaningful increases in attendance and revenue.
“As the park operator, we are extremely excited about this sale and the positive impact we believe it will have on Darien Lake and our entire company in the future,” Burke commented.
EPR Properties is a New York Stock Exchange publicly traded REIT with substantial resources, more than $5 billion in investments, and a proven track record in the entertainment industry.
“We look forward to supporting the efforts of both CNL Lifestyle Properties and EPR Properties as they advance the sale process, and we remain focused on continuing to grow Darien Lake’s position as a place families love to visit and vacation,” added Chris Thorpe, Darien Lake General Manager.
