Dallas, Texas – Pursuant to the Purchase and Sale Agreement dated June 12, 2014 and the CNL Lifestyle Properties, Inc. (“CNL”) Form 8-K dated June 18, 2014, Arcis Equity Partners (“Arcis”) announced on September 30 that it has completed the purchase of 46 golf properties from CNL for $306.5 million. The completed purchase of two additional CNL golf properties for $13.5 million is expected to follow by the end of the year. Including the 48 properties purchased from CNL, Arcis has added 73 golf assets to its portfolio since making its first acquisition in July, 2013. Arcis’ principals have an established history in the ownership and operation of high-end golf courses, country clubs and world-class destination resorts. On the acquisition of the CNL portfolio, Arcis CEO and Managing Partner Blake Walker commented that, “It is hard to imagine a better strategic fit for Arcis than this unique and irreplaceable portfolio of geographically diverse properties, many of which are long-established and represent strong, market differentiated brands. Arcis is committed to re-investing in the portfolio and improving the quality of its properties through the funding of impactful capital projects and enhanced service levels.”
About Arcis Equity Partners
Arcis Equity Partners, LLC is a private equity firm dedicated to making equity and debt investments in the real estate and leisure sectors. Arcis’ strategic objective is to generate superior risk-adjusted returns by creating strong partnerships with management and driving value creation through growth – not financial engineering. The company seeks to partner with high-quality management teams and commit its collective experience and resources to accelerate growth and build lasting value for their companies.
Contact:
Mike Alday
Alday Communications, Inc.
615-791-1535 ext. 22
