News Note: Intrawest sells interest in Snowshoe
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johnfmh - DCSki Columnist
August 13, 2004
Member since 07/18/2001 🔗
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Intrawest Corp., the Canadian-based company that owns Snowshoe Resort in Pocahontas County, announced Thursday that it will sell a majority interest in its commercial properties at Snowshoe and eight other resorts to a real estate investment trust for $160 million.

The agreement calls for CNL Properties Inc. of Orlando, Fla., to acquire an 80 percent interest from Intrawest's commercial properties. Intrawest will continue as property and leasing manager and retain a 20 percent stake. The transaction is expected to close by December.

NOTE: The day-to-day operations are not changing, and Intrawest still has the responsibility to manage and lease the property.
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