CNL Lifestyle Properties, an Orlando-based real-estate investment trust (REIT) will announce today that it is acquiring Crested Butte Ski Resort in Colorado (pictured), Okemo Mountain Resort in Vermont, and Mount Sunapee Ski Resport in New Hampshire from Triple Peaks LLC of Ludlow, Vermont. According to The Wall Street Journal, CNL will pay $132 million for the three ski areas, which Triple Peaks will continue to operate. Read more
Timber sales are typically taxed at the standard 15 percent capital gain rate. Yet timber companies typically pay the standard 35 percent corporate tax rate. This quirk in the tax law has led many timber companies including Plum Creek and Potlatch to restructure as real estate investment trusts (REITs), which enables them to take advantage of the lower 15 percent rate. Montana Senator Max Baucus wants to change that.