CNL Lifestyle Properties (CLLY) 10-K 28 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2015	Mar. 16, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	ck0001261159
Entity Registrant Name	CNL LIFESTYLE PROPERTIES INC
Entity Central Index Key	1,261,159
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		325,182,969
Entity Public Float			$ 1.7

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Real estate investment properties, net (including $58,832 and $67,789 related to consolidated variable interest entities, respectively)	$ 712,589	$ 882,089
Assets held for sale, net (including $0 and $103,753 related to consolidated variable interest entities, respectively)	42,719	968,641
Investments in and advances to unconsolidated entities	73,434	127,102
Cash	83,544	136,985
Deferred rent and lease incentives	43,992	47,307
Restricted cash	28,025	35,227
Other assets	18,176	29,091
Intangibles, net	16,487	18,011
Accounts and other receivables, net	11,893	20,398
Mortgages and other notes receivable, net	0	19,361
Total Assets	1,030,859	2,284,212
LIABILITIES AND STOCKHOLDERS' EQUITY
Mortgages and other notes payable (including $19,677 and $30,412 related to non-recourse debt of consolidated variable interest entities, respectively)	185,739	397,849
Senior notes, net of discount		316,846
Liabilities related to assets held for sale		171,745
Line of credit		152,500
Other liabilities	27,160	41,388
Accounts payable and accrued expenses	11,361	46,005
Due to affiliates	420	489
Total Liabilities	$ 224,680	$ 1,126,822
Commitments and contingencies (Note 17)
Stockholders' equity:
Preferred stock, $.01 par value per share 200 million shares authorized and unissued
Excess shares, $.01 par value per share 120 million shares authorized and unissued	$ 0	$ 0
Common stock, $.01 par value per share One billion shares authorized; 349,084 shares issued and 325,183 and 325,184 shares outstanding as of December 31, 2015 and 2014, respectively	3,252	3,252
Capital in excess of par value	2,863,833	2,863,839
Accumulated deficit	(352,974)	(494,129)
Accumulated distributions	(1,699,076)	(1,211,302)
Accumulated other comprehensive loss	(8,856)	(4,270)
Total Stockholders' Equity	806,179	1,157,390
Total Liabilities and Stockholders' Equity	$ 1,030,859	$ 2,284,212

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real estate investment properties, net, variable interest entities	$ 58,832	$ 67,789
Asset held for sale net, variable interest entities	0	103,753
Mortgages and other notes payable, variable interest entities	$ 19,677	$ 30,412
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	200,000,000	200,000,000
Preferred stock, shares unissued	200,000,000	200,000,000
Excess shares, par value	$ 0.01	$ 0.01
Excess shares, shares authorized	120,000,000	120,000,000
Excess shares, shares unissued	120,000,000	120,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	349,084,000	349,084,000
Common stock, shares outstanding	325,183,000	325,184,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Rental income from operating leases	$ 125,239	$ 128,023	$ 115,414
Property operating revenues	211,104	236,860	233,956
Interest income on mortgages and other notes receivable	1,322	8,412	13,120
Total revenues	337,665	373,295	362,490
Expenses:
Property operating expenses	172,627	190,165	187,581
Asset management fees to advisor	15,666	18,651	23,060
General and administrative	15,635	17,136	17,233
Ground lease and permit fees	10,341	10,162	9,838
Acquisition fees and costs		664	2,467
Other operating expenses	6,878	5,328	4,471
Bad debt expense	8,536	291	54
Loan loss provision	9,319	3,270	3,104
(Gain) loss on lease terminations		8,914	(3,850)
Impairment provisions	124,873	30,428	50,033
Depreciation and amortization	83,481	98,664	94,459
Total expenses	447,356	383,673	388,450
Operating loss	(109,691)	(10,378)	(25,960)
Other income (expense):
Interest and other income	2,172	838	559
Interest expense and loan cost amortization	(26,931)	(57,260)	(55,769)
Loss on extinguishment of debt	(21,065)	(1,391)
Bargain purchase gain			2,653
Equity in earnings of unconsolidated entities	6,153	7,753	11,701
Total other expense	(39,671)	(50,060)	(40,856)
Loss from continuing operations	(149,362)	(60,438)	(66,816)
Income (loss) from discontinued operations (includes $3,027 and $1,655 amortization of loss and loss on termination of cash flow hedge for the years ended December 31, 2014 and 2013, respectively)	204,671	(31,706)	(241,117)
Net income (loss) before gain on sale of real estate and unconsolidated entities	55,309	(92,144)	(307,933)
Gain on sale of real estate	46,594
Gain from sale of unconsolidated entities	39,252		55,394
Net income (loss)	$ 141,155	$ (92,144)	$ (252,539)
Net income (loss) per share of common stock (basic and diluted)
Continuing operations	$ (0.20)	$ (0.18)	$ (0.03)
Discontinued operations	0.63	(0.10)	(0.76)
Net income (loss) per share	$ 0.43	$ (0.28)	$ (0.79)
Weighted average number of shares of common stock outstanding (basic and diluted)	325,183	324,451	318,742

CONSOLIDATED STATEMENTS OF OPE5

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Amortization of loss and loss on termination of cash flow hedges	$ 3,486	$ 1,655
Discontinued Operations
Amortization of loss and loss on termination of cash flow hedges	$ 3,027	$ 1,655

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net income (loss)	$ 141,155	$ (92,144)	$ (252,539)
Other comprehensive income (loss):
Foreign currency translation adjustments	(4,970)	(2,933)	(1,563)
Changes in fair value of cash flow hedges:
Amortization of loss and loss on termination of cash flow hedges	180	3,486	1,655
Unrealized gain arising during the period	204	883	1,863
Total other comprehensive (loss) income	(4,586)	1,436	1,955
Total comprehensive income (loss)	$ 136,569	$ (90,708)	$ (250,584)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Accumulated Deficit	Accumulated Distributions	Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2012	$ 1,711,431	$ 3,164	$ 2,803,346	$ (149,446)	$ (937,972)	$ (7,661)
Balance at Dec. 31, 2012		316,371
Subscriptions received for stock through public offering reinvestment plan (in shares)		7,901
Subscriptions received for stock through public offering reinvestment plan	54,936	$ 79	54,857
Redemption of common stock (in shares)		(1,645)
Redemption of common stock	(11,955)	$ (17)	(11,938)
Net income (loss)	(252,539)			(252,539)
Distributions, declared and paid ($0.4252 per share for 2013, $0.4252 per share for 2014 and $1.5000 per share for 2015)	(135,450)				(135,450)
Foreign currency translation adjustment	(1,563)					(1,563)
Amortization of loss on termination of cash flow hedge	1,655					1,655
Current period adjustment to recognize changes in fair value of cash flow hedges (Note 11)	1,863					1,863
Balance at Dec. 31, 2013		322,627
Balance at Dec. 31, 2013	1,368,378	$ 3,226	2,846,265	(401,985)	(1,073,422)	(5,706)
Subscriptions received for stock through public offering reinvestment plan (in shares)		3,970
Subscriptions received for stock through public offering reinvestment plan	27,209	$ 40	27,169
Redemption of common stock (in shares)		(1,413)
Redemption of common stock	(9,609)	$ (14)	(9,595)
Net income (loss)	(92,144)			(92,144)
Distributions, declared and paid ($0.4252 per share for 2013, $0.4252 per share for 2014 and $1.5000 per share for 2015)	(137,880)				(137,880)
Foreign currency translation adjustment	(2,933)					(2,933)
Amortization of loss on termination of cash flow hedge	3,486					3,486
Current period adjustment to recognize changes in fair value of cash flow hedges (Note 11)	$ 883					883
Balance at Dec. 31, 2014	325,184	325,184
Balance at Dec. 31, 2014	$ 1,157,390	$ 3,252	2,863,839	(494,129)	(1,211,302)	(4,270)
Redemption of common stock (in shares)		(1)
Redemption of common stock	(6)		(6)
Net income (loss)	141,155			141,155
Distributions, declared and paid ($0.4252 per share for 2013, $0.4252 per share for 2014 and $1.5000 per share for 2015)	(487,774)				(487,774)
Foreign currency translation adjustment	(4,970)					(4,970)
Amortization of loss on termination of cash flow hedge	180					180
Current period adjustment to recognize changes in fair value of cash flow hedges (Note 11)	$ 204					204
Balance at Dec. 31, 2015	325,183	325,183
Balance at Dec. 31, 2015	$ 806,179	$ 3,252	$ 2,863,833	$ (352,974)	$ (1,699,076)	$ (8,856)

CONSOLIDATED STATEMENTS OF STO8

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Declared and paid distributions, per share	$ 1.5000	$ 0.4252	$ 0.4252

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities:
Net income (loss)	$ 141,155	$ (92,144)	$ (252,539)
Adjustments to reconcile net loss to net cash provided by operating activities
Depreciation and amortization	83,481	135,373	150,311
Amortization of loan costs and lease costs (including above- and below-market leases)	3,846	12,310	9,165
Accretion and amortization of fair value measures	(89)	305	422
Gain on sale of properties and disposal of fixed assets	(246,837)	(4,073)	(2,241)
Gain on sale of unconsolidated entities	(39,252)		(55,394)
Bargain purchase gain			(2,653)
Loss on extinguishment of debt	23,107	6,209
Write-off intangible assets from sale of properties			93
Amortization of terminated hedge	180	3,486	1,655
Swap termination fees	(184)	(1,904)
(Gain) loss on lease termination		8,174	(2,705)
Gain from insurance proceeds	(2,914)	(4,916)
Impairment provision	132,622	68,295	269,535
Loan loss provision	9,319	3,270	3,104
Bad debt expense	10,298	2,309	6,323
Prepayment penalties on loans	(1,277)	(7,047)
Premium paid on senior notes	(11,537)	(2,500)
Equity in earnings net of distributions from unconsolidated entities	6,934	5,744	15,068
Changes in assets and liabilities:
Other assets	(146)	467	(283)
Deferred rent and lease incentives	(4,214)	(982)	(8,056)
Accounts and other receivables	499	(7,401)	(3,237)
Accounts payable, accrued expenses and other liabilities	(43,336)	3,017	6,977
Due to affiliates	988	(1,058)	(65)
Net cash provided by operating activities	62,643	126,934	135,480
Investing activities:
Proceeds from sale of real estate	992,738	384,293	12,401
Acquisition of properties		(128,390)	(244,859)
Capital expenditures	(49,272)	(79,115)	(70,156)
Contributions to unconsolidated entities	(54,572)
Proceeds from sale of unconsolidated entities	139,501		195,446
Proceeds from release (payment) of collateral on loan payable			11,167
Proceeds from insurance	4,674	10,187
Proceeds from short-term investment		1,169
Principal payments received on mortgage loans receivable	9,828	83,468	4,282
Changes in restricted cash	14,317	1,394	(10,357)
Other		980	(854)
Net cash provided by (used in) investing activities	1,057,214	273,986	(102,930)
Financing activities:
Redemptions of common stock	(6)	(9,609)	(11,955)
Distributions to stockholders, net of reinvestments	(487,774)	(110,671)	(80,514)
Borrowings under line of credit		232,500	100,000
Proceeds from mortgages and other notes payable		57,790	131,298
Principal payments on line of credit	(152,500)	(130,000)	(145,000)
Principal payments on mortgages, notes payable and senior notes	(529,893)	(365,224)	(18,800)
Principal payments on capital leases	(2,834)	(4,863)	(4,152)
Payments of entrance fee refunds		(1,845)
Payment of loan costs	(239)	(3,536)	(5,017)
Net cash used in financing activities	(1,173,246)	(335,458)	(34,140)
Effect of exchange rate fluctuations on cash	(52)	(51)	(60)
Net increase (decrease) in cash	(53,441)	65,411	(1,650)
Cash at beginning of period	136,985	71,574	73,224
Cash at end of period	83,544	136,985	71,574
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	35,030	68,536	63,628
Supplemental disclosure of non-cash investing activities:
Assumption of debts		27,398
Assumption of capital leases	2,761	4,004	10,732
Assumption of entrance fee liabilities			13,810
Change in accounts payable related to capital expenditures	5,898	4,192	6,069
Property assumed in connection with foreclosure		$ 8,729
Supplemental disclosure of non-cash financing activities:
Seller financing provided upon sale of real estate assets			$ 325
Assumption of mortgage loans by third party	$ 151,478

Organization and Nature of Busi

Organization and Nature of Business	12 Months Ended
	Dec. 31, 2015
Organization and Nature of Business	1. Organization and Nature of Business: CNL Lifestyle Properties, Inc. (the “Company”), was organized in Maryland on August 11, 2003. The Company operates and has elected to be taxed as a real estate investment trust (a “REIT”) for federal income tax. Various wholly-owned subsidiaries have been and will be formed by the Company for the purpose of acquiring and owning direct or indirect interests in real estate. The Company generally invests in lifestyle properties in the United States that are primarily leased on a long-term (generally five to 20-years, plus multiple renewal options), triple-net or gross basis to tenants or operators that the Company considers to be industry leading. The Company also leases properties to taxable REIT subsidiary (“TRS”) tenants and engages independent third-party managers to operate those properties. In the event of certain tenant defaults, the Company has also engaged third-party managers to operate properties on its behalf until they are re-leased. The Company has engaged CNL Lifestyle Advisor Corporation (the “Advisor”) as its Advisor to provide management, acquisition, disposition, advisory and administrative services. As of December 31, 2015, the Company owned 49 lifestyle properties directly and indirectly within the following asset classes: ski and mountain lifestyle, attractions, marinas and other lifestyle properties. Seven of these 49 properties are owned through an unconsolidated joint venture, and three are located in Canada. In March 2014, the Company engaged Jefferies LLC (“Jefferies”), a leading global investment banking and advisory firm, to assist the Company’s management and its board of directors in actively evaluating various strategic alternatives to provide liquidity to the Company’s shareholders. In connection with this process, during 2014 the Company sold its entire golf portfolio (consisting of 48 properties) and its multi-family development property. During 2015, the Company sold its 81.98% interest in the DMC Partnership for net sales proceeds of approximately $139.5 million to its co-venture partner, and it sold all 38 of its senior housing properties, 12 of its 17 marinas properties, four attractions properties and one ski and mountain lifestyle property for aggregate net sales proceeds of approximately $992.7 million. Additionally, the Company has a purchase and sale agreement for the sale of its remaining five marina properties.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Significant Accounting Policies	2. Significant Accounting Policies Principles of Consolidation and Basis of Presentation — In accordance with the guidance for the consolidation of VIEs, the Company analyzes its variable interests, including loans, leases, guarantees, and equity investments, to determine if the entity in which it has a variable interest is a variable interest entity (“VIE”). The Company’s analysis includes both quantitative and qualitative reviews. The Company bases its quantitative analysis on the forecasted cash flows of the entity, and its qualitative analysis on its review of the design of the entity, its organizational structure including decision-making ability and financial agreements. The Company also uses its quantitative and qualitative analyses to determine if it is the primary beneficiary of the VIE, and if such determination is made, it includes the accounts of the VIE in its consolidated financial statements. Allocation of Purchase Price for Real Estate Acquisitions — The fair value of the tangible assets of an acquired leased property is determined by various factors including the comparable land sale method and cost approach method which estimates the replacement cost new less depreciation and a go dark income approach on the building in which the building is assumed to be vacant. The purchase price is allocated to in-place lease intangibles based on management’s evaluation of the specific characteristics of the acquired lease. Factors considered include estimates of carrying costs during hypothetical expected lease up periods, including estimates of lost rental income during the expected lease up periods, and costs to execute similar leases such as leasing commissions, legal and other related expenses. The Company may also enter into yield guarantees in connection with an acquisition, whereby the seller agrees to hold a portion of the purchase price in escrow that may be repaid to the Company in the event certain thresholds are not met. In calculating the estimated fair value of the yield guarantee, the Company considers information obtained about each property during the due diligence and budget process as well as discount rates to determine the fair value. The Company periodically evaluates the fair value of the yield guarantee and records any adjustments to the fair value as a component of other income (expense) in the accompanying consolidated statements of operations. Depreciation and Amortization — Amortization of intangible assets is computed using the straight-line method of accounting over the respective lease term or estimated useful life. The capitalized above-market or below-market lease intangible is amortized to rental income over the estimated remaining term of the respective leases. If a lease were to be terminated prior to its scheduled expiration, all unamortized costs related to the lease would be written off. Intangible assets with indefinite lives are not amortized, and like all intangibles, are evaluated for impairment on an annual basis or upon a trigger event. Investment in Unconsolidated Entities — Acquisition Fees and Expenses — Impairment of Real Estate Assets — For real estate the Company indirectly owns through an investment in a joint venture, tenant-in-common interest or other similar investment structure which is accounted for under the equity method, when impairment indicators are present, the Company compares the estimated fair value of its investment to the carrying value. An impairment charge will be recorded to the extent the fair value of its investment is less than the carrying amount and the decline in value is determined to be other than a temporary decline. The estimated fair values of unconsolidated entities are based upon a discounted cash flow model that includes all estimated cash inflows and outflows over the expected holding period. The capitalization rates and discounted rates utilized in the model are based upon rates that the Company believes to be within a reasonable range of current market rates for the underlying properties. Bargain Purchase Gain — Assets Held for Sale, net and Discontinued Operations — Real Estate Dispositions — Real Estate Sales Mortgages and Other Notes Receivables — The Company evaluates impairment on its mortgages and other notes receivable on an individual loan basis which includes, current information and events, periodic visits and quarterly discussions on the financial results of the properties being collateralized and the financial stability of the borrowers who are also tenants or third-party managers for certain properties in the Company’s real estate portfolio. The Company reviews each loan to determine the risk of loss and whether the individual loan is impaired and whether an allowance is necessary. If allowance is necessary, the Company will reduce the carrying value of the loan accordingly and record a corresponding charge to net income (loss). The credit quality of the Company’s borrowers is primarily based on their payment history on an individual loan basis, and, as such, the Company does not assign its mortgages and other note receivable in credit quality categories. Cash — Restricted Cash — Derivative Instruments and Hedging Activities — Fair Value of Financial Instruments — Fair Value Measurements • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 — Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability either directly or indirectly; such as, quoted prices for similar assets or liabilities or other inputs that can be corroborated by observable market data. • Level 3 — Unobservable inputs for the asset or liability, which are typically based on the Company’s own assumptions, as there is little, if any, related market activity. When market data inputs are unobservable, the Company utilizes inputs that it believes reflects the Company’s best estimate of the assumptions market participants would use in pricing the asset or liability. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Deferred Financing Costs — Foreign Currency Translation — Revenue Recognition — Capital Improvement Reserve Income — Mortgages and Other Notes Payable — Income Taxes — Under the provisions of the Internal Revenue Code and applicable state laws, each TRS entity of the Company is subject to taxation of income on the profits and losses from its operations. The Company accounts for federal and state income taxes with respect to its TRS entities using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and respective tax bases and operating losses and tax-credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Earnings (loss) Per Share — Use of Estimates — Segment Information — Reclassifications — Adopted Accounting Pronouncements — In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers,” as a new ASC topic (Topic 606). The core principle of this amendment is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard further provides guidance for any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards (for example, lease contracts). In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers: Deferral of Effective Date” which defers the original effective date of ASU 2014-09 by one year. ASU 2014-09 is now effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period, with earlier adoption permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. ASU 2014-09 can be adopted using one of two retrospective application methods: 1) retrospectively to each prior reporting period presented or 2) as a cumulative-effect adjustment as of the date of adoption. The Company has determined that it will not early adopt ASU 2014-09 and is still evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position, results of operations or cash flows. Recent Accounting Pronouncements — In April 2015, the FASB issued ASU 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs,” which requires that loan costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts or premiums. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The ASU is to be applied retrospectively for each period presented. Upon adoption, an entity is required to comply with the applicable disclosures for a change in an accounting principle. The FASB subsequently issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements,” which clarifies that, given the absence of authoritative guidance in ASU 2015-03 regarding presentation and subsequent measurement of loan costs related to line-of-credit arrangements, the SEC Staff would not object to an entity deferring and presenting loan costs as an asset and subsequently amortizing the loan costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The Company adopted this ASU effective January 1, 2016, and has determined that the adoption of this ASU will not have a significant effect on its consolidated financial position, results of operations or cash flows. In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments,” which requires an acquirer to recognize provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The Company adopted this ASU effective January 1, 2016, and has determined that the adoption of this ASU will not have a significant effect on its consolidated financial position, results of operations or cash flows. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842): Accounting for Leases,” which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The ASU requires lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. The ASU further modifies lessors’ classification criteria for leases and the accounting for sales-type and direct financing leases. The ASU will also require qualitative and quantitative disclosures designed to give financial statement users additional information on the amount, timing, and uncertainty of cash flows arising from leases. The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2018 with early adoption permitted. The ASU is to be applied using a modified retrospective approach. The Company is currently evaluating the impact of this ASU, however its adoption is expected to have a significant effect on the Company’s consolidated financial position, results of operations and cash flows.

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2015
Acquisitions	3. Acquisitions: Consolidated Entities. Product/Description Location Date of (1) Purchase Pacifica Senior Living Victoria Court – One senior housing property Rhode Island 1/15/2014 $ 15,250 Pacifica Senior Living Northridge – One senior housing property California 6/6/2014 25,250 La Conner Retirement Inn – One senior housing property Washington 6/2/2014 8,250 South Pointe Assisted Living – One senior housing property Washington 6/2/2014 4,300 Pacifica Senior Living Modesto – One senior housing property California 7/24/2014 16,250 (2) Pacifica Senior Living Bakersfield – One senior housing property California 7/25/2014 28,750 (2) Pacifica Senior Living Wilmington – One senior housing property North Carolina 7/25/2014 22,250 (2) The Oaks at Braselton – One senior housing property Georgia 9/22/2014 15,000 The Oaks at Post Road – One senior housing property Georgia 9/22/2014 18,600 $ 153,900 FOOTNOTES: (1) These properties were subject to long-term triple-net leases with an initial term of 10 years with renewal options at the time of acquisition. All of these properties were sold in 2015. (2) In connection with acquiring these properties the Company assumed the fair value of loans with an aggregate principal outstanding balance of approximately $25.5 million. See Note 10. “Indebtedness” for additional information. These acquisitions were not considered material to the Company as such no pro forma information was included. The following summarizes the allocation of the purchase price for the above properties and the estimated fair values of the assets acquired and liabilities assumed (in thousands): Total Purchase Land and land improvements $ 25,213 Buildings 120,059 Equipment 5,127 In-place lease intangibles (1) 1,723 Other intangibles 4,566 Assumed mortgages (27,398 ) Other liabilities (900 ) Total purchase price consideration $ 128,390 FOOTNOTE: (1) The weighted-average amortization period for intangible in-place leases acquired were 10 years as of the date of acquisition.

Real Estate Investment Properti

Real Estate Investment Properties, net	12 Months Ended
	Dec. 31, 2015
Real Estate Investment Properties, net	4. Real Estate Investment Properties, net: As of December 31, 2015 and 2014, real estate investment properties consisted of the following (in thousands): 2015 2014 Land and land improvements $ 369,902 $ 415,968 Leasehold interests and improvements 170,970 180,514 Building and building improvements 245,372 273,210 Equipment 506,935 520,060 Less: accumulated depreciation and amortization (580,590 ) (507,663 ) Total $ 712,589 $ 882,089 For the years ended December 31, 2015, 2014 and 2013, the Company had depreciation and amortization expenses of approximately $82.8 million, $98.0 million and $93.9 million, respectively, excluding properties that the Company classified as discontinued operations. The Company evaluates its properties on an ongoing basis, including any changes to intended use of the properties, operating performance of its properties or plans to dispose of assets to determine if the carrying value is recoverable. As described above in Note 1. “Organization and Nature of Business,” management and its board of directors have been actively evaluating various strategic alternatives to provide liquidity to the Company’s stockholders. As part of this process, management reviewed the operating performance for each property, developed projected cash flows and revised its cash flow assumptions to include projected capital improvement costs to remain competitive, and to retain and enhance visitations and attendance at our ski and attractions properties. The Company evaluated these revised cash flow projections and reviewed materials provided by its global investment banking and advisory firm, including revised market assumptions and other indications of value received in connection with the Company’s strategic alternatives process from several potential buyers, to determine whether it was likely that their carrying value would be recoverable. The revised cash flows also reflected the proposed restructure of our leases with one tenant on three attractions properties. As a result of this analysis and in consideration of the potential for disposal of the properties in the near term, the Company recorded impairment provisions of approximately $123.1 million related primarily to several attractions properties to write down their book values to estimated fair values based on discounted cash flows and residual values. During the year ended December 31, 2013, the Company recorded impairments of approximately $7.5 million related to a few of its smaller, non-core attractions properties to write down their book values to estimated sales prices from third party buyers less costs to sell. These properties were classified as held for sale during 2013, but were subsequently reclassified to held and used. The Company did not record an impairment provision related to real estate investment properties excluding assets held for sale during the year ended December 31, 2014.

Assets and Associated Liabiliti

Assets and Associated Liabilities Held for Sale, net and Discontinued Operations	12 Months Ended
	Dec. 31, 2015
Assets and Associated Liabilities Held for Sale, net and Discontinued Operations	5. Assets and Associated Liabilities Held for Sale, net and Discontinued Operations: Assets Held for Sale, net 2015 2014 Land and land improvements $ 5,673 $ 213,129 Leasehold interests and improvements 27,184 52,589 Building and building improvements 6,352 599,923 Equipment, net 1,378 59,345 Deferred rent and lease incentives — 4,832 Other assets 25 10,919 Restricted cash 1,408 14,714 Intangibles, net — 10,503 Accounts and other receivables 699 2,687 Total $ 42,719 $ 968,641 Associated Liabilities Held for Sale 2015 2014 Mortgages and other notes payable $ — $ 152,655 Other liabilities — 19,090 Total $ — $ 171,745 During the year ended December 31, 2015, the Company sold all 38 senior housing properties, 12 of its 17 marinas properties, four attractions properties and one ski and mountain lifestyle property. No disposition fee was payable to the Advisor on the sale of these properties. The third party buyer of the properties assumed approximately $151.5 million of outstanding principal indebtedness collateralized by the senior housing properties that were sold. In connection with these transactions, the Company received aggregate net sales proceeds of approximately $992.7 million and recorded net gains of approximately $246.8 million for financial reporting purposes. Of the net gains recorded, approximately $46.6 million related to the sale of four attractions properties and one ski and mountain lifestyle property were recorded as gain on sale of real estate from continuing operations, and $200.2 million related to the sale of the 38 senior housing properties and 12 marinas were recorded in income (loss) from discontinued operations. The Company accounted for the revenues and expenses related to one unimproved land held for sale at December 31, 2015, and the four attractions properties and one ski and mountain lifestyle property sold in 2015, including net gains of approximately $46.6 million for the sale of real estate, as income from continuing operations because the sale of these properties did not cause a strategic shift in the Company and they did not have a major impact on the Company’s business. Therefore, they did not qualify as discontinued operations under ASU 2014-08. However, the proposed disposition of the one ski and mountain lifestyle property represented an individually significant component. The Company recorded net income (loss) from continuing operations of approximately $19.8 million (which includes approximately $13.5 million of gain on sale of real estate), $(1.2) million, and $(2.4) million for the years ended December 31, 2015, 2014 and 2013, respectively, related to the one ski and mountain lifestyle property classified as held for sale. The Company recorded approximately $1.8 million, $30.4 million and $42.5 million in impairment provisions during the years ended December 31, 2015, 2014 and 2013, respectively, related to its unimproved land classified as held for sale and one attractions property, to adjust their net carrying values to revised estimated sale prices, less closing costs. Impairment provisions related to its unimproved land and one attractions property were recorded in net income (loss) from continuing operations. During the year ended December 31, 2014, the Company sold its golf portfolio (consisting of 48 properties) and one multi-family residential property. In connection with these transactions, the Company received aggregate net sales proceeds of approximately $384.3 million and recorded a net gain of approximately $4.1 million. During the year ended December 31, 2014, the Company approved a plan to market and sell the Company’s marinas portfolio (consisting of 17 marinas properties) and entered into a purchase and sale agreement during the year ended December 31, 2015 for these properties. The Company determined that the carrying values of these properties were not recoverable based on expected sales proceeds, less costs to sell, and recorded approximately $7.7 million and $33.4 million in impairment provisions during the years ended December 31, 2015 and 2014, respectively. During the year ended December 31, 2013, the Company determined that the carrying value of the golf portfolio and its multi-family property were not recoverable and recorded approximately $219.5 million in impairment provision. Discontinued Operations 2015 2014 2013 Revenues $ 65,796 $ 178,887 $ 160,604 Expenses (49,251 ) (115,773 ) (111,807 ) Depreciation and amortization — (36,709 ) (55,852 ) Impairment provision (7,749 ) (37,867 ) (219,502 ) Operating income (loss) 8,796 (11,462 ) (226,557 ) Net gain from sale of real estate 200,243 4,144 2,408 Loss on extinguishment of debt (1) (2,042 ) (4,818 ) — Gain on insurance and retirements 2,816 4,791 — Other income (expense) (2) (5,142 ) (24,361 ) (16,968 ) Income (loss) from discontinued operations $ 204,671 $ (31,706 ) $ (241,117 ) FOOTNOTES (1) During the year ended December 31, 2015, the Company recorded gain (loss) on extinguishment of debt from the sale of the 38 senior housing properties. During the year ended December 31, 2014, the Company recorded loss on extinguishment of debt from the sale of its 48 golf properties and its multi-family residential property. (2) Amounts include amortization of loss and loss on termination of cash flow hedge of approximately $3.0 million and $1.7 million for the years ended December 31, 2014 and 2013, respectively. There was no amortization of loss and loss on termination of cash flow hedge for the year ended December 31, 2015.

Intangible Assets, net

Intangible Assets, net	12 Months Ended
	Dec. 31, 2015
Intangible Assets, net	6. Intangible Assets, net: The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2015 and 2014 are as follows (in thousands): Intangible Assets Gross Carrying Accumulated 2015 Net Book In place leases $ 11,203 $ (5,013 ) $ 6,190 Trade name (infinite-lived) 10,297 — 10,297 Total $ 21,500 $ (5,013 ) $ 16,487 Intangible Assets Gross Carrying Accumulated 2014 Net Book In place leases $ 11,584 $ (4,399 ) $ 7,185 Trade name (infinite-lived) 10,826 — 10,826 Total $ 22,410 $ (4,399 ) $ 18,011 Amortization expense (excluding properties classified as discontinued operations) was approximately $0.7 million, $0.7 million and $0.6 million for the years ended December 31, 2015, 2014 and 2013, respectively. The Company wrote off approximately $0.8 million and $0.1 million of in-place lease intangibles for the years ended December 31, 2015 and 2013, respectively, which are included as part of impairment provisions and (gain) loss on lease terminations, respectively, in the accompanying consolidated statements of operations. The Company did not have any write offs of in-place lease intangibles for the year ended December 31, 2014. The estimated future amortization expense for the Company’s finite-lived intangible assets as of December 31, 2015 is as follows (in thousands): Total 2016 $ 640 2017 623 2018 552 2019 552 2020 552 Thereafter 3,271 Total $ 6,190

Operating Leases

Operating Leases	12 Months Ended
	Dec. 31, 2015
Operating Leases	7. Operating Leases: As of December 31, 2015, the Company leased 24 properties under long-term, triple-net leases to third-parties. The following is a schedule of future minimum lease payments to be received under the non-cancellable operating leases with third-parties at December 31, 2015 (in thousands): 2016 $ 96,447 2017 98,721 2018 99,747 2019 100,298 2020 100,765 Thereafter 820,487 Total $ 1,316,465 Under a triple-net lease, the tenant is responsible for paying percentage rent and capital improvement reserve rent. Capital improvement reserves are generally based on a percentage of gross revenue of the property and are set aside by the Company for capital improvements including replacements, from time to time, of furniture, fixtures and equipment and totaled approximately $21.9 million, $23.9 million and $21.0 million for the years ended December 31, 2015, 2014 and 2013, respectively. Percentage rent is generally based on a percentage of gross revenue after it exceeds a certain threshold. Total percentage rent recorded was approximately $3.3 million, $2.9 million and $2.5 million the years ended December 31, 2015, 2014 and 2013, respectively. In addition, substantially all of the property expenses are required to be paid directly by the tenants, including real estate taxes which the tenants pay directly to the taxing authorities. The total annualized property taxes assessed on these properties and paid directly by tenants, were approximately $6.4 million, $8.6 million and $11.9 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Variable Interest and Unconsoli

Variable Interest and Unconsolidated Entities	12 Months Ended
	Dec. 31, 2015
Variable Interest and Unconsolidated Entities	8. Variable Interest and Unconsolidated Entities: Consolidated VIEs — The aggregate carrying amount and major classifications of the consolidated assets that can be used to settle obligations of the VIEs and liabilities of the consolidated VIEs that are non-recourse to the Company are as follows (in thousands): December 31, 2015 2014 Assets Real estate investment properties, net $ 58,832 $ 67,789 Assets held for sale — 103,753 Other assets 6,752 26,376 Liabilities Mortgages and other notes payable 19,677 30,412 Other liabilities 792 15,695 The Company’s maximum exposure to loss as a result of its involvement with these VIEs is limited to its net investment in these entities which totaled approximately $45.1 million and $151.8 million as of December 31, 2015 and 2014, respectively. The Company’s exposure is limited because of the non-recourse nature of the borrowings of the VIEs. Unconsolidated Entities — As of December 31, 2014, the Company held an 80% ownership interest in the Intrawest Venture. During the year ended December 31, 2015, the Company contributed approximately $54.6 million to the Intrawest Venture and the Intrawest Venture repaid mortgage loans of approximately $54.6 million. In July 2015, the co-venture partner of the Intrawest Venture accepted the Company’s offer to acquire the co-venture partner’s 20% interest in the Intrawest Venture in accordance with the buy-sell provisions of the Intrawest Venture partnership agreement. The Intrawest Venture is working with the Canada Revenue Agency to resolve matters related to its entities. The Intrawest Venture’s maximum exposure relating to these matters is approximately $1.1 million. However, the Intrawest Venture believes the more likely than not resolution will be approximately $0.3 million. As such, an accrual of $0.3 million has been reflected in the financial information of the Intrawest Venture. The following tables present financial information for the Company’s unconsolidated entities for the years ended December 31, 2015, 2014 and 2013 (in thousands): Summarized operating data: Year Ended December 31, 2015 DMC Partnership (1) Intrawest Total Revenues $ 10,743 $ 18,778 $ 29,521 Property operating expenses (173 ) (11,114 ) (11,287 ) Depreciation and amortization (3,038 ) (4,160 ) (7,198 ) Interest expense (1,555 ) (1,328 ) (2,883 ) Net income $ 5,977 $ 2,176 $ 8,153 Income (loss) allocable to other venture partners (2) $ 3,477 $ (1,611 ) (3) $ 1,866 Income (loss) allocable to the Company (2) $ 2,500 $ 3,787 $ 6,287 Amortization of capitalized costs (25 ) (109 ) (134 ) Equity in earnings (loss) on unconsolidated entities $ 2,475 $ 3,678 $ 6,153 Distribution declared to the Company $ 3,698 $ 7,218 $ 10,916 Distributions received by the Company $ 6,558 $ 6,529 $ 13,087 Summarized operating data: Year Ended December 31, 2014 DMC Partnership Intrawest Total Revenues $ 28,519 $ 19,856 $ 48,375 Property operating expenses (776 ) (10,744 ) (11,520 ) Depreciation and amortization (9,114 ) (6,005 ) (15,119 ) Interest expense (8,175 ) (5,408 ) (13,583 ) Interest and other income (expense) (35 ) 132 97 Net income (loss) $ 10,419 $ (2,169 ) $ 8,250 Income (loss) allocable to other venture partners (2) $ 1,602 $ (1,612 ) (3) $ (10 ) Income (loss) allocable to the Company (2) $ 8,817 $ (557 ) $ 8,260 Amortization of capitalized costs (298 ) (209 ) (507 ) Equity in earnings (loss) on unconsolidated entities $ 8,519 $ (766 ) $ 7,753 Distribution declared to the Company $ 11,345 $ 2,277 $ 13,622 Distributions received by the Company $ 11,345 $ 2,152 $ 13,497 Summarized operating data: Year Ended December 31, 2013 DMC Intrawest CNLSun I (4) CNLSun II (4) CNLSun III (4) Total Revenues $ 28,062 $ 19,416 $ 71,287 $ 19,654 $ 21,549 $ 159,968 Property operating expenses (796 ) (10,492 ) (45,999 ) (15,439 ) (14,609 ) (87,335 ) Depreciation and amortization (9,182 ) — (10,994 ) (2,244 ) (2,874 ) (25,294 ) Interest expense (7,908 ) (6,411 ) (16,154 ) (2,057 ) (2,928 ) (35,458 ) Interest and other income (expense) 3 33 20 — — 56 Total $ 10,179 $ 2,546 $ (1,840 ) $ (86 ) $ 1,138 $ 11,937 Income (loss) allocable to other venture partners (1) $ (1,166 ) $ (1,611 ) (3) $ (1,341 ) $ (8 ) $ 1,788 $ (2,338 ) Income (loss) allocable to the Company (1) $ 11,345 $ 4,157 $ (499 ) $ (78 ) $ (650 ) 14,275 Amortization of capitalized costs (433 ) (233 ) (1,305 ) (431 ) (172 ) (2,574 ) Equity in earnings (loss) on unconsolidated entities $ 10,912 $ 3,924 $ (1,804 ) $ (509 ) $ (822 ) $ 11,701 Distribution declared to the Company $ 11,345 $ 1,998 $ 7,797 $ 1,039 $ 1,660 $ 23,839 Distributions received by the Company $ 11,337 $ 2,427 $ 11,750 (5) $ 1,567 (5) $ 4,965 (5) $ 32,046 FOOTNOTES: (1) On April 29, 2015, the Company completed the sale of its interest in the DMC Partnership as described above. As such, the summarized operating data for the partnership is reported through April 29, 2015. (2) Income is allocated between the Company and its venture partners using the hypothetical liquidation book value (“HLBV”) method of accounting. (3) This amount represents the venture partner’s portion of interest expense on a loan which the partners made to the venture. These amounts are treated as distributions for the purposes of the HLBV calculation. (4) On July 1, 2013, the Company completed the sale of its interest in 42 senior housing properties held through CNLSun I, CNLSun II and CNLSun III ventures as discussed above. As such, summarized operating data for those ventures is reported through June 30, 2013. (5) For the year ended December 31, 2013, distributions received by the Company includes approximately $4.0 million, $0.5 million and $0.8 million in return of capital on the CNLSun I, CNLSun II and CNLSun III ventures, respectively. Summarized balance sheet data As of December 31, Intrawest Venture Real estate assets, net $ 66,493 Other assets 15,495 Mortgages and other notes payable 11,100 Other liabilities 16,552 Partners’ capital 54,336 Carrying amount of investment (1) 73,434 Company’s ownership percentage (1) 80.0 % As of December 31, 2014 DMC (2) Intrawest Total Real estate assets, net $ 221,986 $ 74,131 $ 296,117 Other assets 15,642 16,412 32,054 Mortgages and other notes payable 131,500 66,690 198,190 Other liabilities 6,795 18,537 25,332 Partners’ capital 99,333 5,316 104,649 Carrying amount of investment (1) 104,402 22,700 127,102 Company’s ownership percentage (1) 81.98 % 80.0 % FOOTNOTES: (1) As of December 31, 2015 and 2014, the Company’s share of partners’ capital determined under HLBV was approximately $71.4 million and $119.6 million, respectively, and the total difference between the carrying amount of the investment and the Company’s share of partners’ capital determined under HLBV was approximately $2.0 million and $7.5 million, respectively. (2) On April 29, 2015, the Company completed the sale of its interest in the DMC Partnership, as described above. The Company’s maximum exposure to loss is primarily limited to the carrying amount of its investment in the Intrawest Venture. The unconsolidated entities have debt obligations totaling approximately $11.1 million and $198.2 million as of December 31, 2015 and 2014, respectively. In 2015, the Intrawest Venture paid off two of its mortgage loans of approximately $54.6 million, which were scheduled to mature in January and June 2015.

Mortgages and Other Notes Recei

Mortgages and Other Notes Receivable, net	12 Months Ended
	Dec. 31, 2015
Mortgages and Other Notes Receivable, net	9. Mortgages and Other Notes Receivable, net: As of December 31, 2015 and 2014, mortgages and other notes receivable consisted of the following (in thousands): Borrower Date of Loan Maturity Interest Accrued Loan Principal Balance As of December 31, (Description of Collateral Property) Agreement(s) Date Rate Interest 2015 2014 CMR Properties, LLC and CM Resort, LLC 6/15/2010 (1) 9.0%-11.0% $ — $ — $ 16,620 Grand Prix Tampa, LLC 7/31/2011 (1) 8.5% — — 3,395 Total $ — — 20,015 Accrued interest — 864 Acquisition fees, net — 46 Loan loss provision — (1,564 ) Total carrying amount $ — $ 19,361 FOOTNOTES: (1) The Company collected the mortgage receivable in 2015. During the year ended December 31, 2015, the Company entered into agreements to receive early repayment of its two outstanding mortgage receivables at discounted amounts and as a result recorded loan loss provisions of approximately $9.3 million to reduce the mortgage receivables to realizable value. The Company collected its outstanding two mortgage and other notes receivable during 2015 and did not have any mortgages and other notes receivable outstanding as of December 31, 2015. During the year ended December 31, 2014, the Company collected approximately $83.5 million in repayment of mortgage receivables, mostly related to loans which matured during 2014. The Company recorded loan provisions of approximately $3.3 million and $3.1 million during the years ended December 31, 2014 and 2013, respectively, to reduce the net carrying values of certain loans to net realizable value (based on future cash flows discounted at the original loan’s effective interest rate) due to financial challenges experienced by the borrowers The estimated fair market value of the Company’s mortgages and other notes receivable was approximately $16.6 million as of December 31, 2014, based on discounted cash flows for each individual instrument based on market interest rates as of December 31, 2014. Because this methodology includes inputs that are not observable by the public and are not necessarily reflected in active markets, the measurement of the estimated fair values related to the Company’s mortgage and other notes receivable is categorized as Level 3 on the three-level valuation hierarchy.

Indebtedness

Indebtedness	12 Months Ended
	Dec. 31, 2015
Indebtedness	10. Indebtedness: Mortgages and Other Notes Payable Collateral and Approximate Carrying Value of Collateral at December 31, 2015 Interest Rate Maturity Principal Balance as of 2015 2014 Variable rate debt: Mortgage debt 1 ski and mountain lifestyle property, 30-day LIBOR + 3.3% (1)(2) 9/1/2019 $ 8,037 $ 8,402 $18.3 million Mortgage debt 1 ski and mountain lifestyle property 30-day LIBOR + 4.5% (1)(2) (3) — (3) 14,550 Mortgage debt 1 attractions property, 30-day LIBOR + 3.0% (1) 11/30/2017 (4) 18,156 20,781 $44.6 million Mortgage debt 5 senior housing properties 30-day LIBOR + 3.5% (1) (5) — (5) 30,000 Mortgage debt 8 senior housing properties 30-day LIBOR + 2.5% (1) (5) — (5) 105,000 Mortgage debt 4 ski and mountain lifestyle property, 30-day LIBOR + 1.5%-3.5% (1) 4/5/2017 37,847 39,077 $145.4 million Total variable rate debt $ 64,040 $ 217,810 Fixed rate debt: Mortgage debt 8 senior housing properties 4.35% - 4.5% (5) $ — (5) $ 57,711 Mortgage debt 1 attractions lifestyle property, 6.8% 9/28/2016 18,552 18,939 $29.0 million Mortgage debt 6 ski and mountain lifestyle properties, 6.1% 4/5/2017 90,799 95,908 $194.3 million Mortgage debt 3 marina properties, 6.3% - 6.5% 9/1/2016- 10,696 11,358 $23.1 million 12/1/2016 Mortgage debt 3 senior housing properties 4.40% (5) — (5) 16,368 Mortgage debt 1 attraction property 6.0% (3) — (3) 42,859 Mortgage debt 4 senior housing properties 3.79% (5) — (5) 46,165 Mortgage debt 1 attractions property 6.1% - 6.4% (3) — (3) 7,395 Mortgage debt 3 senior housing properties 4.75% - 6.9% (5) — (5) 32,411 Other debt — (6) 12/1/2020 1,705 1,989 Senior notes (7) 7.3% (7) — (7) 318,250 Total fixed rate debt $ 121,752 $ 649,353 Total debt $ 185,792 $ 867,163 Premium (discount) $ (53 ) $ 187 Total $ 185,739 $ 867,350 FOOTNOTES: (1) The 30-day LIBOR rate was approximately 0.43% and 0.17% as of December 31, 2015 and 2014, respectively. (2) The Company entered into interest rate swaps for these variable rate debts. See Note 11. “Derivative instruments and Hedging Activities” for additional information. (3) The Company repaid the debt in 2015. (4) This loan was amended in November 2015 to extend the maturity date to November 30, 2017. All other terms remained the same. (5) The Company sold the properties in 2015. A portion of the outstanding debt was repaid using proceeds from the sale of the properties, while the remaining debt was assumed by the third-party buyer of the properties. (6) The $1.7 million loan is non-interest bearing. (7) The Company issued $400.0 million senior notes which were guaranteed by certain of its properties. The senior notes were paid in full in June 2015. Senior Unsecured Notes — Line of Credit The following is a schedule of future principal payments and maturities for all indebtedness (in thousands): 2016 $ 38,921 2017 137,929 2018 438 2019 6,799 2020 1,705 Thereafter — $ 185,792 The estimated fair values of mortgages and other notes payable and the line of credit were approximately $185.4 million and $707.3 million as of December 31, 2015 and 2014, respectively, based on rates and spreads the Company would expect to obtain for similar borrowings with similar loan terms. Because this methodology includes inputs that are less observable by the public and are not necessarily reflected in active markets, the measurement of the estimated fair values related to the Company’s mortgage notes payable is categorized as Level 3 on the three-level valuation hierarchy. The estimated fair value of the Company’s senior notes was approximately $325.4 million as of December 31, 2014, based on prices traded for similar or identical instruments in active or inactive markets and was categorized as level 2 on the three-level valuation hierarchy. Capital Lease Obligations

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedging Activities	11. Derivative Instruments and Hedging Activities: The Company utilizes derivative instruments to offset partially the effect of fluctuating interest rates on the cash flows associated with its variable-rate debt. The Company follows established risk management policies and procedures in its use of derivatives and does not enter into or hold derivatives for trading or speculative purposes. The Company records all derivative instruments on its balance sheet at fair value. On the date the Company enters into a derivative contract, the derivative is designated as a hedge of the exposure to variable cash flows of a forecasted transaction. The effective portion of the derivative’s gain or loss is initially reported as a component of other comprehensive income (loss) and subsequently recognized in the statements of operations in the periods in which earnings are impacted by the variability of the cash flows of the hedged item. Any ineffective portion of the gain or loss is reflected in interest expense in the statements of operations. The Company is making an accounting policy election to use the exception in ASU 820-10-35-18D with respect to measuring fair value of a group of financial assets and financial liabilities entered into with a particular counterparty, where the Company reports the net exposure to the credit risk of that counterparty. During the year ended December 31, 2015, one of the loans was paid in full and the corresponding interest rate swap with a notional amount of approximately $14.2 million was terminated. As a result, the ineffective portion of the change in fair value resulting from the termination of hedges included in the accompanying consolidated balance sheets were reclassified to interest expense and loan cost amortization in the accompanying consolidated statements of operations in income (loss) from continuing operations for the year ended December 31, 2015. As of December 31, 2015, the Company had one interest rate swap that was designated as a cash flow hedge of interest payments from its inception. The fair value of the Company’s derivative financial instruments is included in other liabilities in the accompanying consolidated balance sheets as of December 31, 2015 and 2014. The following table summarizes the terms and fair values of the Company’s derivative financial instruments (in thousands): Fair Value Liability Notional Strike (1) Credit (1) Trade Maturity December 31, 2015 2014 $ 8,037 3.6% 3.3% 9/28/09 9/1/19 $ (618 ) $ (719 ) $ 14,175 2.2% 4.5% 1/13/11 12/31/15 $ — $ (283 ) FOOTNOTE: (1) The strike rate does not include the credit spread on each of the notional amounts. The following table summarizes the gross and net amounts of the Company’s derivative financial instruments (in thousands): As of December 31, 2015 Notional Gross Gross Net Amounts of Liabilities Gross Amounts Not Offset in the Balance Sheets Cash Flow Recognized Offset in the Presented in the Financial Cash Net $ 8,037 $ (618 ) $ — $ (618 ) $ (618 ) $ — $ (618 ) As of December 31, 2014 Notional Gross Gross Net Amounts of Liabilities Gross Amounts Not Offset in the Balance Sheets Cash Flow Recognized Offset in the Presented in the Financial Cash Net $ 8,402 $ (719 ) $ — $ (719 ) $ (719 ) $ — $ (719 ) $ 14,550 $ (283 ) — (283 ) (283 ) $ — (283 ) As of December 31, 2015, the Company’s remaining hedge qualified as highly effective and, accordingly, all of the change in value is reflected in other comprehensive income (loss). Determining fair value and testing effectiveness of these financial instruments requires management to make certain estimates and judgments. Changes in assumptions could have a positive or negative impact on the estimated fair values and measured effectiveness of such instruments could, in turn, impact the Company’s results of operations.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Measurements	12. Fair Value Measurements: The Company had 14 real estate investment properties that were carried at fair value as of December 31, 2015, as a result of writing down the book values of these properties to their estimated fair values based on estimated discounted cash flows and residual values during 2015. Additionally, the Company had six and 19 investment properties that were classified as assets held for sale and carried at fair value as of December 31, 2015 and 2014, respectively. The Level 3 unobservable inputs used in determining the fair value of the real estate properties include, but are not limited to, appraisal information from an independent appraisal firm affiliated with the independent investment banking firm engaged as our valuation advisor, comparable sales transactions and other information from brokers and potential buyers, as applicable. The Company’s derivative instruments are valued primarily based on inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, volatilities, and credit risks) and are classified as Level 2 in the fair value hierarchy. The valuation of derivative instruments also includes a credit value adjustment which is a Level 3 input. However, the impact of the assumption is not significant to its overall valuation calculation, and therefore the Company considers its derivative instruments to be classified as Level 2. The fair value of such instruments is included in other liabilities in the accompanying consolidated balance sheets. The following tables show the Company’s financial assets and liabilities carried at fair value as of December 31, 2015 and 2014, as follows (in thousands): Fair Value Level 1 Level 2 Level 3 Assets: Real estate investment properties, net $ 184,061 $ — $ — $ 184,061 Assets held for sale, net 40,588 — — 40,588 $ 224,649 $ — $ — $ 224,649 Liabilities: Derivative instruments $ 618 $ — $ 618 $ — Fair Value Level 1 Level 2 Level 3 Assets: Assets held for sale $ 122,126 $ — $ — $ 122,126 Liabilities: Derivative instruments $ 1,002 $ — $ 1,002 $ —

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes	13. Income Taxes: As of December 31, 2015 and 2014, the Company recorded net current and long-term deferred tax assets related to depreciation differences, deferred income, and net operating losses at its TRS subsidiaries and properties under foreclosure elections as a result of certain tenant defaults and lease terminations. Because there are no historical earnings and no certainty that such deferred tax assets will be available to offset future tax liabilities, the Company has established a full valuation allowance as of December 31, 2015 and 2014. The components of the deferred taxes recognized in the accompanying consolidated balance sheets at December 31, 2015 and 2014 are as follows (in thousands): Year Ended December 31, 2015 2014 Net operating losses $ 107,655 $ 107,494 Book/tax differences in deferred income 5,302 4,175 Book/tax differences in acquired assets (36,732 ) (53,428 ) Total deferred tax asset 76,225 58,241 Valuation allowance (76,225 ) (58,241 ) $ — $ — The Company’s TRS subsidiaries had net operating loss carry-forwards for federal and state purposes of approximately $269.0 million and $262.2 million as of December 31, 2015 and 2014, respectively, to offset future taxable income. The estimated net operating loss carry-forwards will expire between 2025 and 2035. The Company analyzed its material tax positions and determined that it has not taken any uncertain tax positions. In addition, the Company has determined that no significant differences exist between the total income tax expense or benefit and the amount computed by applying the statutory federal income rate to its TRS income before taxes without record to the impact of the valuation allowance.

Related Party Arrangements

Related Party Arrangements	12 Months Ended
	Dec. 31, 2015
Related Party Arrangements	14. Related Party Arrangements: In March 2014, the Company’s Advisor amended its advisory agreement, effective April 1, 2014, to eliminate all acquisition fees on equity, performance fees, debt acquisition fees and disposition fees, and to reduce asset management fees to 0.075% monthly (or 0.90% annually) of invested assets. In April 2013, the Company paid an affiliate, CNL Commercial Real Estate, Inc., a sales commission totaling approximately $0.2 million in connection with the sale of one of its properties under the terms of an exclusive right of sale listing agreement. For the years ended December 31, 2015, 2014 and 2013, the Advisor collectively earned fees and incurred reimbursable expenses as follows (in thousands): Year Ended December 31, 2015 2014 2013 Acquisition fees: Acquisition fees from offering proceeds (1) $ — $ 319 $ 1,286 Acquisition fees from debt proceeds (2) — 1,521 3,273 Total — 1,840 4,559 Asset management fees (3) 19,726 29,863 34,683 Reimbursable expenses: (4) Acquisition costs (5) — 248 299 Operating expenses (6) 5,451 6,680 7,092 Total 5,451 6,928 7,391 Total fees earned and reimbursable expenses $ 25,177 $ 38,631 $ 46,633 FOOTNOTES: (1) Prior to April 1, 2014, acquisition fees were paid for services in connection with the selection, purchase, development or construction of real property. The fees were generally equal to 3.0% of gross offering proceeds from the sale of the Company’s common stock including proceeds from shares sold under its distribution reinvestment plan (“DRP”). Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as acquisition fees and costs in the accompanying consolidated statements of operations. (2) Prior to April 1, 2014, acquisition fees from debt proceeds were paid for services in connection with the incurrence of indebtedness, including the Company’s pro-rata share of joint venture indebtedness. The fees were generally equal to 3.0% of loan proceeds. Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as loan costs and are included as part of other assets in the accompanying consolidated balance sheets. (3) Amounts recorded as asset management fees to Advisor include fees of $4.1 million, $11.2 million and $11.6 million for the years ended December 31, 2015, 2014 and 2013, respectively, related to properties that are classified as assets held for sale that are included as discontinued operations in the accompanying consolidated statements of operations. Effective April 1, 2014, the asset management fees to Advisor were reduced as described above. (4) The Advisor and its affiliates are entitled to reimbursement of certain expenses incurred on behalf of the Company in connection with the Company’s organization, offering, acquisitions, and operating activities. Pursuant to the advisory agreement, the Company will not reimburse the Advisor for any amount by which total operating expenses paid or incurred by the Company exceed the greater of 2.0% of average invested assets or 25.0% of net income (the “Expense Cap”) in any expense year, as defined in the advisory agreement. For the expense years ended December 31, 2015, 2014 and 2013, operating expenses did not exceed the Expense Cap. Amounts representing acquisition costs are recorded as part of acquisition fees and costs in the accompanying consolidated statements of operations. Amounts representing operating expenses are recorded as part of general and administrative expenses in the accompanying consolidated statements of operations. (5) Includes approximately $0.04 million, and $0.1 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2014 and 2013, respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges. There were no such expenses recorded in acquisition costs during the year ended December 31, 2015. (6) Includes approximately $0.4 million, $0.4 million and $0.6 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges. Amounts due to affiliates for fees and expenses described above are as follows (in thousands): As of December 31, 2015 2014 Due to the Advisor and its affiliates: Operating expenses $ 420 $ 476 Acquisition fees and expenses — 13 Total $ 420 $ 489 The Company also maintains accounts at a bank in which the Company’s chairman and vice-chairman previously served as directors. The Company had deposits at that bank of approximately $15.2 million as of December 31, 2014. The Company did not have any deposits at that bank as of December 31, 2015.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity	15. Stockholders’ Equity: Distribution Reinvestment Plan Distributions The tax composition of distributions declared for years ended December 31, 2015, 2014 and 2013 were as follows: December 31, Distribution Type 2015 2014 2013 Taxable as ordinary income 28.0 % 0.0 % 0.0 % Taxable as capital gain 18.3 % 0.0 % 29.3 % Return of capital 53.7 % 100.0 % 70.7 % No amounts distributed to stockholders for the years ended December 31, 2015, 2014 and 2013 were required to be or have been treated as a return of capital for purposes of calculating the stockholders’ return on their invested capital as described in the advisory agreement. Redemption of Shares In September 2014, the Company’s Board approved the suspension of the Company’s redemption plan effective as of September 26, 2014. Pursuant to the redemption plan, all redemption requests received in good order by September 26, 2014, were processed and those deemed priority requests and all approved qualified hardship requests were redeemed as of September 30, 2014, subject to the limitations of the redemption plan. All other redemption requests received by September 26, 2014, were placed in the redemption queue. However, the Company did not accept or otherwise process any additional redemption requests after September 26, 2014. The following details the Company’s redemptions for the year ended December 31, 2014 (in thousands except per share data). First Second Third Fourth Full Year 2014 Quarters Requests in queue 10,547 10,798 10,809 11,572 10,547 Redemptions requested 778 864 1,355 — 2,997 Shares redeemed: Prior period requests (135 ) (80 ) (60 ) — (275 ) Current period request (300 ) (369 ) (439 ) — (1,108 ) Adjustments (1) (92 ) (404 ) (93 ) — (589 ) Pending redemption requests (2) 10,798 10,809 11,572 11,572 11,572 Average price paid per share $ 6.85 $ 6.85 $ 6.81 $ — $ 6.84 FOOTNOTES: (1) This amount represents redemption request cancellations and other adjustments. (2) Requests that were not fulfilled in whole during a particular quarter were redeemed on a pro rata basis to the extent funds were made available pursuant to the redemption plan. The redemption plan was suspended in September 2014.

Concentrations of Risk

Concentrations of Risk	12 Months Ended
	Dec. 31, 2015
Concentrations of Risk	16. Concentrations of Risk: The Company’s real estate investment portfolio is geographically diversified with properties in 19 states and Canada. The Company owns ski and mountain lifestyle properties in nine states and Canada with a majority of those properties located in the northeast, California and Canada. The Company’s attractions properties are located in 11 states with a majority located in the Southern and Western United States. During the year ended December 31, 2015, we had one tenant who generated revenues greater than 10% of total revenues from continuing operations. This tenant operates seven of our ski and mountain lifestyle properties and represented approximately $39.9 million of our consolidated revenues from continuing operations.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies	17. Commitments and Contingencies: The Company acquired certain properties that are on land owned by a governmental entity or other third party where the Company owns a leasehold interest which requires payment of ground lease and permit fees in accordance with the lease agreement. For properties that are subject to a leasing arrangement, ground leases and permit fees are paid by the tenants and the Company records the corresponding equivalent revenue in rental income from operating leases. For properties that are on a managed structure, ground leases and permit fees are paid by the Company. The following is a schedule of future obligations under ground leases and land permits (in thousands): 2016 $ 12,733 2017 12,733 2018 12,718 2019 12,626 2020 12,626 Thereafter 171,651 Total $ 235,087 From time to time the Company may be exposed to litigation arising from operations of its business in the ordinary course of business. Management is not aware of any litigation that it believes will have a material adverse impact on the Company’s financial condition or results of operations.

Selected Quarterly Financial Da

Selected Quarterly Financial Data	12 Months Ended
	Dec. 31, 2015
Selected Quarterly Financial Data	18. Selected Quarterly Financial Data (Unaudited): First Second Third Fourth Full Year 2015 Quarters Total revenues $ 71,992 $ 85,659 $ 127,600 $ 52,414 $ 337,665 Operating income (loss) (7,107 ) (7,689 ) 36,026 (130,921 ) (109,691 ) Equity in earnings (loss) of unconsolidated entities 3,561 (783 ) 1,162 2,213 6,153 Income (loss) from continuing operations (14,607 ) (38,208 ) 34,295 (130,842 ) (149,362 ) Discontinued operations (1) 7,052 199,720 7,614 (9,715 ) 204,671 Gain (loss) on sale of real estate — 27,337 (1,064 ) 20,321 46,594 Gain from sale of unconsolidated entities — 39,252 — — 39,252 Net income (loss) (7,555 ) 228,101 40,845 (120,236 ) 141,155 Weighted average number of shares outstanding (basic and diluted) 325,183 325,183 325,183 325,183 325,183 Earnings (loss) per share of common stock (basic and diluted) $ (0.02 ) $ 0.70 $ 0.13 $ (0.38 ) $ 0.43 First Second Third Fourth Full Year 2014 Quarters Total revenues $ 72,380 $ 94,657 $ 144,551 $ 61,707 $ 373,295 Operating income (loss) (2,185 ) 726 43,389 (52,308 ) (10,378 ) Equity in earnings (loss) of unconsolidated entities 4,299 (526 ) 3,176 804 7,753 Income (loss) from continuing operations (11,882 ) (15,071 ) 30,086 (63,571 ) (60,438 ) Discontinued operations (1) (8,471 ) 6,566 537 (30,338 ) (31,706 ) Net income (loss) (20,353 ) (8,505 ) 30,623 (93,909 ) (92,144 ) Weighted average number of shares outstanding (basic and diluted) 322,639 324,197 325,707 325,214 324,451 Earnings (loss) per share of common stock (basic and diluted) $ (0.06 ) $ (0.03 ) $ 0.09 $ (0.29 ) $ (0.28 ) FOOTNOTES: (1) The Company classified certain properties as assets held for sale and reclassified the results related to those properties to discontinued operations for all periods presented.

Supplemental Consolidating Fina

Supplemental Consolidating Financial Statements	12 Months Ended
	Dec. 31, 2015
Supplemental Consolidating Financial Statements	19. Supplemental Consolidating Financial Statements: As of December 31, 2014, the Company had senior notes outstanding which were guaranteed by certain of the Company’s consolidated subsidiaries (the “Guarantor Subsidiaries”). As described in Note 10, “Indebtedness,” in June 2015, the Company repaid all of its senior unsecured notes with an outstanding principal amount of $318.3 million at a premium of 103.625%.

SCHEDULE II-Valuation and Quali

SCHEDULE II-Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
SCHEDULE II-Valuation and Qualifying Accounts	CNL LIFESTYLE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE II—Valuation and Qualifying Accounts Years ended December 31, 2015, 2014 and 2013 (in thousands) Year Description Balance at Charged to Charged to Deemed Collected/ Balance at 2013 Deferred tax asset valuation allowance $ 48,458 $ — $ 2,241 $ — $ — $ 50,699 Allowance for loan losses 1,699 3,104 — — — 4,803 $ 50,157 $ 3,104 $ 2,241 $ — $ — $ 55,502 2014 Deferred tax asset valuation allowance $ 50,699 $ — $ 7,542 $ — $ — $ 58,241 Allowance for loan losses 4,803 3,270 (285 ) (6,224 ) — 1,564 $ 55,502 $ 3,270 $ 7,257 $ (6,224 ) $ — $ 59,805 2015 Deferred tax asset valuation allowance $ 58,241 $ — $ 17,984 $ — $ — $ 76,225 Allowance for loan losses 1,564 9,319 (530 ) (10,353 ) — — Allowance for doubtful accounts — 8,536 3,996 — — 12,532 $ 59,805 $ 17,855 $ 21,450 $ (10,353 ) $ — $ 88,757

SCHEDULE III-Real Estate and Ac

SCHEDULE III-Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
SCHEDULE III-Real Estate and Accumulated Depreciation	CNL LIFESTYLE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE III—REAL ESTATE AND ACCUMULATED DEPRECIATION As of December 31, 2015 (in thousands) Initial Costs Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at Close of Period (3) (5) Life on which ciation in latest income state- ments is computed Property/Location (6) En- ances Land & Land Improve- ments Lease- hold Interests and ments Buildings Improve- ments Carrying Land & Land ments Lease- hold Interests and ments Buildings Total Accumu- lated Depre- ciation Date of tion Date Gatlinburg Sky Lift $ — $ 19,154 $ 175 $ 32 $ — $ — $ 19,186 $ 175 $ 19,361 $ (4,060 ) In 1953 12/22/2005 (2) Hawaiian Falls Waterparks $ 3,123 $ 3,663 $ 758 $ 2,111 $ — $ 5,024 $ 3,812 $ 819 $ 9,655 $ (4,403 ) In 2004 4/21/2006 (2) Cypress Mountain $ 161 $ 19,001 $ 735 $ 4,713 $ — $ 993 $ 13,437 $ 10,180 $ 24,610 $ (8,160 ) In 1975 5/30/2006 (2) Funtasticks Fun Center $ 3,038 $ — $ 1,413 $ 1,870 $ — $ 2,389 $ — $ 1,108 $ 3,497 $ (1,296 ) In 1993 10/6/2006 (2) Camelot Park $ 179 $ — $ 70 $ 807 $ — $ 178 $ — $ 72 $ 250 $ (251 ) In 1994 10/6/2006 (2) Zuma Fun Center $ 3,646 $ — $ 1,072 $ 2,590 $ — $ 2,245 $ — $ 718 $ 2,963 $ (1,223 ) In 1991 10/6/2006 (2) Mountasia Family Fun Center $ 1,152 $ — $ 635 $ 83 $ — $ 821 $ — $ 424 $ 1,245 $ (443 ) In 1994 10/6/2006 (2) Zuma Fun Center $ 1,551 $ — $ 558 $ 2,865 $ — $ 961 $ — $ 404 $ 1,365 $ (632 ) In 1990 10/6/2006 (2) Brighton Ski Resort $ 11,809 $ 2,123 $ 11,233 $ 3,010 $ — $ 12,824 $ 2,123 $ 13,228 $ 28,175 $ (9,815 ) In 1949 1/8/2007 (2) Northstar-at-Tahoe Resort $ 60,790 $ — $ 8,534 $ 11,441 $ — $ 64,931 $ — $ 15,834 $ 80,765 $ (24,542 ) In 1972 1/19/2007 (2) Sierra-at-Tahoe Resort $ 19,875 $ 800 $ 8,574 $ 3,242 $ — $ 22,214 $ 800 $ 9,477 $ 32,491 $ (14,373 ) In 1968 1/19/2007 (2) Loon Mountain Resort $ 9,226 $ 346 $ 4,673 $ 7,297 $ — $ 15,124 $ 347 $ 6,071 $ 21,542 $ (8,434 ) In 1966 1/19/2007 (2) Initial Costs Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at Close of Period (3) (5) Life on which ciation in latest income state- ments is computed Property/Location (6) En- ances Land & Land Improve- ments Lease- Hold Interests And ments Buildings Improve- ments Carrying Land & Land ments Lease- hold Interests and ments Buildings Total Accumu- lated Depre- ciation Date of tion Date Summit-at-Snoqualmie Resort (1) $ 20,122 $ 792 $ 8,802 $ 4,419 $ — $ 22,259 $ 792 $ 11,084 $ 34,135 $ (12,627 ) In 1945 1/19/2007 (2) White Water Bay $ 10,720 $ — $ 5,461 $ 683 $ — $ 10,729 $ — $ 6,135 $ 16,864 $ (4,237 ) In 1981 4/6/2007 (2) Splashtown $ 10,817 $ — $ 1,609 $ 8,594 $ — $ 15,939 $ — $ 5,082 $ 21,021 $ (2,268 ) In 1981 4/6/2007 (2) Waterworld $ 1,733 $ 7,841 $ 728 $ 563 $ — $ 2,105 $ 7,841 $ 922 $ 10,868 $ (4,819 ) In 1995 4/6/2007 (2) Darien Lake $ 60,993 $ — $ 21,967 $ 3,142 $ — $ 48,752 $ — $ 14,212 $ 62,964 $ (36,503 ) In 1955 4/6/2007 (2) Frontier City $ 7,265 $ — $ 7,518 $ 1,962 $ — $ 6,592 $ — $ 6,601 $ 13,193 $ (4,728 ) In 1958 4/6/2007 (2) Wild Waves & Enchanted $ 19,200 $ — $ 2,837 $ 5,269 $ — $ 12,448 $ — $ 891 $ 13,339 $ (12,365 ) In 1977 4/6/2007 (2) Magic Springs & Crystal Falls $ 4,237 $ 8 $ 10,409 $ 5,139 $ — $ 4,238 $ — $ 5,303 $ 9,541 $ (4,364 ) In 1977 4/16/2007 (2) Mountain High Resort $ 14,272 $ 14,022 $ 7,571 $ 971 $ — $ 12,494 $ 10,268 $ 5,944 $ 28,706 $ (13,143 ) In 1930’s 6/29/2007 (2) Sugarloaf Mountain Resort $ 15,408 $ — $ 5,658 $ 3,637 $ — $ 14,720 $ 2,000 $ 7,983 $ 24,703 $ (7,928 ) In 1962 8/7/2007 (2) Sunday River Resort $ 32,698 $ — $ 12,256 $ 5,358 $ — $ 36,498 $ — $ 13,814 $ 50,312 $ (14,097 ) In 1959 8/7/2007 (2) The Northstar Commercial $ 2,354 $ — $ 33,932 $ 4,178 $ — $ 2,759 $ — $ 37,705 $ 40,464 $ (11,889 ) In 2005 11/15/2007 (2) Initial Costs Costs Capitalized Subsequent to Acquisition Gross Amounts at which Carried at Close of Period (3) (5) Life on which ciation in latest income state- ments is computed Property/Location (6) En- ances Land & Land Improve- ments Lease- Hold Interests And ments Buildings Improve- ments Carrying Land & Land ments Lease- hold Interests and ments Buildings Total Accumu- lated Depre- ciation Date of tion Date Myrtle Waves $ — $ — $ 5,875 $ 419 $ — $ 170 $ — $ 2,402 $ 2,572 $ (538 ) In 1985 (4) (2) Mount Sunapee (1) $ — $ 6,727 $ 5,253 $ 538 $ — $ 112 $ 6,909 $ 5,497 $ 12,518 $ (4,101 ) In 1960 12/5/2008 (2) Okemo Mountain (1) $ 17,566 $ 25,086 $ 16,684 $ 1,297 $ — $ 18,265 $ 25,144 $ 17,224 $ 60,633 $ (13,329 ) In 1963 12/5/2008 (2) Crested Butte (1) $ 1,305 $ 18,843 $ 11,188 $ 2,341 $ — $ 1,314 $ 19,798 $ 12,565 $ 33,677 $ (10,278 ) In 1960’s 12/5/2008 (2) Jiminy Peak Mountain Resort (1) $ 7,802 $ — $ 8,164 $ 818 $ — $ 8,345 $ — $ 8,439 $ 16,784 $ (4,132 ) In 1948 1/27/2009 (2) Hawaiian Waters $ — $ 13,399 $ 3,458 $ 765 $ — $ 391 $ 11,163 $ 3,078 $ 14,632 $ (3,285 ) In 1998 5/6/2009 (2) Pacific Park (1) $ — $ 25,046 $ 1,575 $ 867 $ — $ — $ 25,252 $ 2,236 $ 27,488 $ (4,489 ) In 1996 12/29/2010 (2) Stevens Pass $ 62 $ 13,084 $ 5,280 $ 1,523 $ — $ 808 $ 14,524 $ 4,617 $ 19,949 $ (3,244 ) 1945-2000 11/17/2011 (2) Rapids Waterpark (1) $ 11,041 $ — $ 9,044 $ 6,688 $ — $ 16,647 $ — $ 9,405 $ 26,052 $ (2,820 ) 1979 and 6/29/2012 (2) Soak City $ 12,516 $ — $ 3,259 $ 1 $ — $ 6,613 $ — $ 1,635 $ 8,248 $ (1,596 ) In 2001 8/12/2013 (2) Phoenix Wet n Wild $ — $ 8,715 $ 4,748 $ 325 $ — $ — $ 7,574 $ 4,088 $ 11,662 $ (1,471 ) In 2009 11/26/2013 (2) Total $ 364,661 $ 178,650 $ 231,706 $ 99,558 $ — $ 369,902 $ 170,970 $ 245,372 $ 786,244 $ (255,883 ) A summary of transactions in real estate and accumulated depreciation for the years ended December 31, 2015, 2014 and 2013 are as follows: Balance at December 31, 2012 $ 2,216,709 2013 Acquisitions 249,136 2013 Dispositions and assets held for sale (181,424 ) 2013 Impairment provision (142,354 ) Balance at December 31, 2013 $ 2,142,067 2014 Acquisitions 169,417 2014 Dispositions and assets held for sale (1,108,581 ) 2014 Impairment provision (64,795 ) Balance at December 31, 2014 $ 1,138,108 2015 Acquisitions — 2015 Dispositions and assets held for sale (271,464 ) 2015 Impairment provision (80,400 ) Balance at December 31, 2015 $ 786,244 Balance at December 31, 2012 $ (355,891 ) 2013 Depreciation (77,484 ) 2013 Accumulated depreciation on dispositions and assets held for sale 18,159 Balance at December 31, 2013 $ (415,216 ) 2014 Depreciation (64,652 ) 2014 Accumulated depreciation on dispositions and assets held for sale 200,327 Balance at December 31, 2014 $ (279,541 ) 2015 Depreciation (36,866 ) 2015 Accumulated depreciation on dispositions and assets held for sale 60,524 Balance at December 31, 2015 $ (255,883 ) FOOTNOTES: (1) The property is encumbered at December 31, 2015. (2) Buildings and improvements are depreciated over 39 years. Leasehold improvements are depreciation over their estimated useful lives. (3) The aggregate cost for federal income tax purposes is approximately $998.9 million. (4) We foreclosed on this property during the year ended December 31, 2014, as a result of default of the borrower. (5) Gross amounts are net of cumulative impairments recorded. Refer to Note 4. “Real Estate Investment Properties, net” in Item 8. “Financial Statements and Supplementary Data” for additional information. (6) Excludes properties classified as held for sale as of December 31, 2015.

SCHEDULE IV-Mortgage Loans on R

SCHEDULE IV-Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2015
SCHEDULE IV-Mortgage Loans on Real Estate	CNL LIFESTYLE PROPERTIES, INC. AND SUBSIDIARIES SCHEDULE IV—MORTGAGE LOANS ON REAL ESTATE December 31, 2015 (in thousands) As of December 31, 2015 and 2014, mortgages and other notes receivable consisted of the following (in thousands): Borrower Date of Loan Maturity Interest Accrued Loan Principal Balance As of December 31, (Description of Collateral Property) Agreement(s) Date Rate Interest 2015 2014 CMR Properties, LLC and CM Resort, LLC 6/15/2010 9/30/2022 9.0%-11.0% $ — $ — $ 16,620 Grand Prix Tampa, LLC 7/31/2011 7/31/2016 8.5% — — 3,395 Total $ — — 20,015 Accrued interest — 864 Acquisition fees, net — 46 Loan loss provision — (1,564 ) Total carrying amount $ — $ 19,361 During the year ended December 31, 2015, the Company entered into agreements to receive early repayment of its two outstanding mortgage receivables at discounted amounts and as a result recorded loan loss provisions of approximately $9.3 million to reduce the mortgage receivables to realizable value. The Company collected its outstanding two mortgage and other notes receivable during 2015 and did not have any mortgages and other notes receivable outstanding as of December 31, 2015. 2015 2014 Balance at beginning of period $ 19,361 $ 117,963 Principal reduction (9,828 ) (83,468 ) Foreclosed and converted to real estate — (7,745 ) Loan loss provision (9,319 ) (3,270 ) Write off of loan loss provision — 1,008 Accrued and deferred interest 317 (4,791 ) Acquisition fees allocated, net (1 ) (51 ) Other (530 ) (285 ) $ — $ 19,361

Significant Accounting Polici32

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation — In accordance with the guidance for the consolidation of VIEs, the Company analyzes its variable interests, including loans, leases, guarantees, and equity investments, to determine if the entity in which it has a variable interest is a variable interest entity (“VIE”). The Company’s analysis includes both quantitative and qualitative reviews. The Company bases its quantitative analysis on the forecasted cash flows of the entity, and its qualitative analysis on its review of the design of the entity, its organizational structure including decision-making ability and financial agreements. The Company also uses its quantitative and qualitative analyses to determine if it is the primary beneficiary of the VIE, and if such determination is made, it includes the accounts of the VIE in its consolidated financial statements.
Allocation of Purchase Price for Real Estate Acquisitions	Allocation of Purchase Price for Real Estate Acquisitions — The fair value of the tangible assets of an acquired leased property is determined by various factors including the comparable land sale method and cost approach method which estimates the replacement cost new less depreciation and a go dark income approach on the building in which the building is assumed to be vacant. The purchase price is allocated to in-place lease intangibles based on management’s evaluation of the specific characteristics of the acquired lease. Factors considered include estimates of carrying costs during hypothetical expected lease up periods, including estimates of lost rental income during the expected lease up periods, and costs to execute similar leases such as leasing commissions, legal and other related expenses. The Company may also enter into yield guarantees in connection with an acquisition, whereby the seller agrees to hold a portion of the purchase price in escrow that may be repaid to the Company in the event certain thresholds are not met. In calculating the estimated fair value of the yield guarantee, the Company considers information obtained about each property during the due diligence and budget process as well as discount rates to determine the fair value. The Company periodically evaluates the fair value of the yield guarantee and records any adjustments to the fair value as a component of other income (expense) in the accompanying consolidated statements of operations.
Depreciation and Amortization	Depreciation and Amortization — Amortization of intangible assets is computed using the straight-line method of accounting over the respective lease term or estimated useful life. The capitalized above-market or below-market lease intangible is amortized to rental income over the estimated remaining term of the respective leases. If a lease were to be terminated prior to its scheduled expiration, all unamortized costs related to the lease would be written off. Intangible assets with indefinite lives are not amortized, and like all intangibles, are evaluated for impairment on an annual basis or upon a trigger event.
Investment in Unconsolidated Entities	Investment in Unconsolidated Entities —
Acquisition Fees and Expenses	Acquisition Fees and Expenses —
Impairment of Real Estate Assets	Impairment of Real Estate Assets — For real estate the Company indirectly owns through an investment in a joint venture, tenant-in-common interest or other similar investment structure which is accounted for under the equity method, when impairment indicators are present, the Company compares the estimated fair value of its investment to the carrying value. An impairment charge will be recorded to the extent the fair value of its investment is less than the carrying amount and the decline in value is determined to be other than a temporary decline. The estimated fair values of unconsolidated entities are based upon a discounted cash flow model that includes all estimated cash inflows and outflows over the expected holding period. The capitalization rates and discounted rates utilized in the model are based upon rates that the Company believes to be within a reasonable range of current market rates for the underlying properties.
Bargain Purchase Gain	Bargain Purchase Gain —
Assets Held for Sale, net and Discontinued Operations	Assets Held for Sale, net and Discontinued Operations —
Real Estate Dispositions	Real Estate Dispositions — Real Estate Sales
Mortgages and Other Notes Receivables	Mortgages and Other Notes Receivables — The Company evaluates impairment on its mortgages and other notes receivable on an individual loan basis which includes, current information and events, periodic visits and quarterly discussions on the financial results of the properties being collateralized and the financial stability of the borrowers who are also tenants or third-party managers for certain properties in the Company’s real estate portfolio. The Company reviews each loan to determine the risk of loss and whether the individual loan is impaired and whether an allowance is necessary. If allowance is necessary, the Company will reduce the carrying value of the loan accordingly and record a corresponding charge to net income (loss). The credit quality of the Company’s borrowers is primarily based on their payment history on an individual loan basis, and, as such, the Company does not assign its mortgages and other note receivable in credit quality categories.
Cash	Cash —
Restricted Cash	Restricted Cash —
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities —
Fair Value of Financial Instruments	Fair Value of Financial Instruments —
Fair Value Measurements	Fair Value Measurements • Level 1 — Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 — Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability either directly or indirectly; such as, quoted prices for similar assets or liabilities or other inputs that can be corroborated by observable market data. • Level 3 — Unobservable inputs for the asset or liability, which are typically based on the Company’s own assumptions, as there is little, if any, related market activity. When market data inputs are unobservable, the Company utilizes inputs that it believes reflects the Company’s best estimate of the assumptions market participants would use in pricing the asset or liability. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement.
Deferred Financing Costs	Deferred Financing Costs —
Foreign Currency Translation	Foreign Currency Translation —
Revenue Recognition	Revenue Recognition —
Capital Improvement Reserve Income	Capital Improvement Reserve Income —
Mortgages and Other Notes Payable	Mortgages and Other Notes Payable —
Income Taxes	Income Taxes — Under the provisions of the Internal Revenue Code and applicable state laws, each TRS entity of the Company is subject to taxation of income on the profits and losses from its operations. The Company accounts for federal and state income taxes with respect to its TRS entities using the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and respective tax bases and operating losses and tax-credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.
Earnings (loss) Per Share	Earnings (loss) Per Share —
Use of Estimates	Use of Estimates —
Segment Information	Segment Information —
Reclassifications	Reclassifications —
Adopted Accounting Pronouncements	Adopted Accounting Pronouncements — In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers,” as a new ASC topic (Topic 606). The core principle of this amendment is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard further provides guidance for any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards (for example, lease contracts). In August 2015, the FASB issued ASU 2015-14, “Revenue from Contracts with Customers: Deferral of Effective Date” which defers the original effective date of ASU 2014-09 by one year. ASU 2014-09 is now effective for annual periods beginning after December 15, 2017, including interim periods within that reporting period, with earlier adoption permitted only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. ASU 2014-09 can be adopted using one of two retrospective application methods: 1) retrospectively to each prior reporting period presented or 2) as a cumulative-effect adjustment as of the date of adoption. The Company has determined that it will not early adopt ASU 2014-09 and is still evaluating the impact the adoption of this ASU will have on the Company’s consolidated financial position, results of operations or cash flows.
Recent Accounting Pronouncements	Recent Accounting Pronouncements — In April 2015, the FASB issued ASU 2015-03, “Interest-Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs,” which requires that loan costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts or premiums. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The ASU is to be applied retrospectively for each period presented. Upon adoption, an entity is required to comply with the applicable disclosures for a change in an accounting principle. The FASB subsequently issued ASU 2015-15, “Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements,” which clarifies that, given the absence of authoritative guidance in ASU 2015-03 regarding presentation and subsequent measurement of loan costs related to line-of-credit arrangements, the SEC Staff would not object to an entity deferring and presenting loan costs as an asset and subsequently amortizing the loan costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. The Company adopted this ASU effective January 1, 2016, and has determined that the adoption of this ASU will not have a significant effect on its consolidated financial position, results of operations or cash flows. In September 2015, the FASB issued ASU 2015-16, “Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments,” which requires an acquirer to recognize provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments require that the acquirer record, in the same period’s financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The new guidance is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2015 with early adoption permitted. The Company adopted this ASU effective January 1, 2016, and has determined that the adoption of this ASU will not have a significant effect on its consolidated financial position, results of operations or cash flows. In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842): Accounting for Leases,” which sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The ASU requires lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. The ASU further modifies lessors’ classification criteria for leases and the accounting for sales-type and direct financing leases. The ASU will also require qualitative and quantitative disclosures designed to give financial statement users additional information on the amount, timing, and uncertainty of cash flows arising from leases. The ASU is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2018 with early adoption permitted. The ASU is to be applied using a modified retrospective approach. The Company is currently evaluating the impact of this ASU, however its adoption is expected to have a significant effect on the Company’s consolidated financial position, results of operations and cash flows.

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Acquired Properties	Consolidated Entities. Product/Description Location Date of (1) Purchase Pacifica Senior Living Victoria Court – One senior housing property Rhode Island 1/15/2014 $ 15,250 Pacifica Senior Living Northridge – One senior housing property California 6/6/2014 25,250 La Conner Retirement Inn – One senior housing property Washington 6/2/2014 8,250 South Pointe Assisted Living – One senior housing property Washington 6/2/2014 4,300 Pacifica Senior Living Modesto – One senior housing property California 7/24/2014 16,250 (2) Pacifica Senior Living Bakersfield – One senior housing property California 7/25/2014 28,750 (2) Pacifica Senior Living Wilmington – One senior housing property North Carolina 7/25/2014 22,250 (2) The Oaks at Braselton – One senior housing property Georgia 9/22/2014 15,000 The Oaks at Post Road – One senior housing property Georgia 9/22/2014 18,600 $ 153,900 FOOTNOTES: (1) These properties were subject to long-term triple-net leases with an initial term of 10 years with renewal options at the time of acquisition. All of these properties were sold in 2015. (2) In connection with acquiring these properties the Company assumed the fair value of loans with an aggregate principal outstanding balance of approximately $25.5 million. See Note 10. “Indebtedness” for additional information.
Allocation of Purchase Price	The following summarizes the allocation of the purchase price for the above properties and the estimated fair values of the assets acquired and liabilities assumed (in thousands): Total Purchase Land and land improvements $ 25,213 Buildings 120,059 Equipment 5,127 In-place lease intangibles (1) 1,723 Other intangibles 4,566 Assumed mortgages (27,398 ) Other liabilities (900 ) Total purchase price consideration $ 128,390 FOOTNOTE: (1) The weighted-average amortization period for intangible in-place leases acquired were 10 years as of the date of acquisition.

Real Estate Investment Proper34

Real Estate Investment Properties, net (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Real Estate Investment Properties	As of December 31, 2015 and 2014, real estate investment properties consisted of the following (in thousands): 2015 2014 Land and land improvements $ 369,902 $ 415,968 Leasehold interests and improvements 170,970 180,514 Building and building improvements 245,372 273,210 Equipment 506,935 520,060 Less: accumulated depreciation and amortization (580,590 ) (507,663 ) Total $ 712,589 $ 882,089

Assets and Associated Liabili35

Assets and Associated Liabilities Held for Sale, net and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2015
Net Carrying Value of Assets Held for Sale	The following table presents the net carrying value of the properties classified as held for sale (in thousands): 2015 2014 Land and land improvements $ 5,673 $ 213,129 Leasehold interests and improvements 27,184 52,589 Building and building improvements 6,352 599,923 Equipment, net 1,378 59,345 Deferred rent and lease incentives — 4,832 Other assets 25 10,919 Restricted cash 1,408 14,714 Intangibles, net — 10,503 Accounts and other receivables 699 2,687 Total $ 42,719 $ 968,641
Liabilities Held for Sale	The following table presents the liabilities associated with the assets held for sale related to the senior housing properties (in thousands): 2015 2014 Mortgages and other notes payable $ — $ 152,655 Other liabilities — 19,090 Total $ — $ 171,745
Summary of Loss from Discontinued Operations	The following table is a summary of loss from discontinued operations for the years ended December 31, (in thousands): 2015 2014 2013 Revenues $ 65,796 $ 178,887 $ 160,604 Expenses (49,251 ) (115,773 ) (111,807 ) Depreciation and amortization — (36,709 ) (55,852 ) Impairment provision (7,749 ) (37,867 ) (219,502 ) Operating income (loss) 8,796 (11,462 ) (226,557 ) Net gain from sale of real estate 200,243 4,144 2,408 Loss on extinguishment of debt (1) (2,042 ) (4,818 ) — Gain on insurance and retirements 2,816 4,791 — Other income (expense) (2) (5,142 ) (24,361 ) (16,968 ) Income (loss) from discontinued operations $ 204,671 $ (31,706 ) $ (241,117 ) FOOTNOTES (1) During the year ended December 31, 2015, the Company recorded gain (loss) on extinguishment of debt from the sale of the 38 senior housing properties. During the year ended December 31, 2014, the Company recorded loss on extinguishment of debt from the sale of its 48 golf properties and its multi-family residential property. (2) Amounts include amortization of loss and loss on termination of cash flow hedge of approximately $3.0 million and $1.7 million for the years ended December 31, 2014 and 2013, respectively. There was no amortization of loss and loss on termination of cash flow hedge for the year ended December 31, 2015.

Intangible Assets, net (Tables)

Intangible Assets, net (Tables)	12 Months Ended
	Dec. 31, 2015
Gross Carrying Amount and Accumulated Amortization of Intangible Assets	The gross carrying amount and accumulated amortization of the Company’s intangible assets as of December 31, 2015 and 2014 are as follows (in thousands): Intangible Assets Gross Carrying Accumulated 2015 Net Book In place leases $ 11,203 $ (5,013 ) $ 6,190 Trade name (infinite-lived) 10,297 — 10,297 Total $ 21,500 $ (5,013 ) $ 16,487 Intangible Assets Gross Carrying Accumulated 2014 Net Book In place leases $ 11,584 $ (4,399 ) $ 7,185 Trade name (infinite-lived) 10,826 — 10,826 Total $ 22,410 $ (4,399 ) $ 18,011
Estimated Future Amortization Expense of Intangible Assets	The estimated future amortization expense for the Company’s finite-lived intangible assets as of December 31, 2015 is as follows (in thousands): Total 2016 $ 640 2017 623 2018 552 2019 552 2020 552 Thereafter 3,271 Total $ 6,190

Operating Leases (Tables)

Operating Leases (Tables)	12 Months Ended
	Dec. 31, 2015
Future Minimum Lease Payments to be Received under Non-Cancellable Operating Leases	The following is a schedule of future minimum lease payments to be received under the non-cancellable operating leases with third-parties at December 31, 2015 (in thousands): 2016 $ 96,447 2017 98,721 2018 99,747 2019 100,298 2020 100,765 Thereafter 820,487 Total $ 1,316,465

Variable Interest and Unconso38

Variable Interest and Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2015
Aggregate Carrying Amount and Major Classifications of Consolidated Assets and Liabilities	The aggregate carrying amount and major classifications of the consolidated assets that can be used to settle obligations of the VIEs and liabilities of the consolidated VIEs that are non-recourse to the Company are as follows (in thousands): December 31, 2015 2014 Assets Real estate investment properties, net $ 58,832 $ 67,789 Assets held for sale — 103,753 Other assets 6,752 26,376 Liabilities Mortgages and other notes payable 19,677 30,412 Other liabilities 792 15,695
Summarized Operating Data of Unconsolidated Entities	The following tables present financial information for the Company’s unconsolidated entities for the years ended December 31, 2015, 2014 and 2013 (in thousands): Summarized operating data: Year Ended December 31, 2015 DMC Partnership (1) Intrawest Total Revenues $ 10,743 $ 18,778 $ 29,521 Property operating expenses (173 ) (11,114 ) (11,287 ) Depreciation and amortization (3,038 ) (4,160 ) (7,198 ) Interest expense (1,555 ) (1,328 ) (2,883 ) Net income $ 5,977 $ 2,176 $ 8,153 Income (loss) allocable to other venture partners (2) $ 3,477 $ (1,611 ) (3) $ 1,866 Income (loss) allocable to the Company (2) $ 2,500 $ 3,787 $ 6,287 Amortization of capitalized costs (25 ) (109 ) (134 ) Equity in earnings (loss) on unconsolidated entities $ 2,475 $ 3,678 $ 6,153 Distribution declared to the Company $ 3,698 $ 7,218 $ 10,916 Distributions received by the Company $ 6,558 $ 6,529 $ 13,087 Summarized operating data: Year Ended December 31, 2014 DMC Partnership Intrawest Total Revenues $ 28,519 $ 19,856 $ 48,375 Property operating expenses (776 ) (10,744 ) (11,520 ) Depreciation and amortization (9,114 ) (6,005 ) (15,119 ) Interest expense (8,175 ) (5,408 ) (13,583 ) Interest and other income (expense) (35 ) 132 97 Net income (loss) $ 10,419 $ (2,169 ) $ 8,250 Income (loss) allocable to other venture partners (2) $ 1,602 $ (1,612 ) (3) $ (10 ) Income (loss) allocable to the Company (2) $ 8,817 $ (557 ) $ 8,260 Amortization of capitalized costs (298 ) (209 ) (507 ) Equity in earnings (loss) on unconsolidated entities $ 8,519 $ (766 ) $ 7,753 Distribution declared to the Company $ 11,345 $ 2,277 $ 13,622 Distributions received by the Company $ 11,345 $ 2,152 $ 13,497 Summarized operating data: Year Ended December 31, 2013 DMC Intrawest CNLSun I (4) CNLSun II (4) CNLSun III (4) Total Revenues $ 28,062 $ 19,416 $ 71,287 $ 19,654 $ 21,549 $ 159,968 Property operating expenses (796 ) (10,492 ) (45,999 ) (15,439 ) (14,609 ) (87,335 ) Depreciation and amortization (9,182 ) — (10,994 ) (2,244 ) (2,874 ) (25,294 ) Interest expense (7,908 ) (6,411 ) (16,154 ) (2,057 ) (2,928 ) (35,458 ) Interest and other income (expense) 3 33 20 — — 56 Total $ 10,179 $ 2,546 $ (1,840 ) $ (86 ) $ 1,138 $ 11,937 Income (loss) allocable to other venture partners (1) $ (1,166 ) $ (1,611 ) (3) $ (1,341 ) $ (8 ) $ 1,788 $ (2,338 ) Income (loss) allocable to the Company (1) $ 11,345 $ 4,157 $ (499 ) $ (78 ) $ (650 ) 14,275 Amortization of capitalized costs (433 ) (233 ) (1,305 ) (431 ) (172 ) (2,574 ) Equity in earnings (loss) on unconsolidated entities $ 10,912 $ 3,924 $ (1,804 ) $ (509 ) $ (822 ) $ 11,701 Distribution declared to the Company $ 11,345 $ 1,998 $ 7,797 $ 1,039 $ 1,660 $ 23,839 Distributions received by the Company $ 11,337 $ 2,427 $ 11,750 (5) $ 1,567 (5) $ 4,965 (5) $ 32,046 FOOTNOTES: (1) On April 29, 2015, the Company completed the sale of its interest in the DMC Partnership as described above. As such, the summarized operating data for the partnership is reported through April 29, 2015. (2) Income is allocated between the Company and its venture partners using the hypothetical liquidation book value (“HLBV”) method of accounting. (3) This amount represents the venture partner’s portion of interest expense on a loan which the partners made to the venture. These amounts are treated as distributions for the purposes of the HLBV calculation. (4) On July 1, 2013, the Company completed the sale of its interest in 42 senior housing properties held through CNLSun I, CNLSun II and CNLSun III ventures as discussed above. As such, summarized operating data for those ventures is reported through June 30, 2013. (5) For the year ended December 31, 2013, distributions received by the Company includes approximately $4.0 million, $0.5 million and $0.8 million in return of capital on the CNLSun I, CNLSun II and CNLSun III ventures, respectively.
Summarized Balance Sheet Data of Unconsolidated Entities	Summarized balance sheet data As of December 31, Intrawest Venture Real estate assets, net $ 66,493 Other assets 15,495 Mortgages and other notes payable 11,100 Other liabilities 16,552 Partners’ capital 54,336 Carrying amount of investment (1) 73,434 Company’s ownership percentage (1) 80.0 % As of December 31, 2014 DMC (2) Intrawest Total Real estate assets, net $ 221,986 $ 74,131 $ 296,117 Other assets 15,642 16,412 32,054 Mortgages and other notes payable 131,500 66,690 198,190 Other liabilities 6,795 18,537 25,332 Partners’ capital 99,333 5,316 104,649 Carrying amount of investment (1) 104,402 22,700 127,102 Company’s ownership percentage (1) 81.98 % 80.0 % FOOTNOTES: (1) As of December 31, 2015 and 2014, the Company’s share of partners’ capital determined under HLBV was approximately $71.4 million and $119.6 million, respectively, and the total difference between the carrying amount of the investment and the Company’s share of partners’ capital determined under HLBV was approximately $2.0 million and $7.5 million, respectively. (2) On April 29, 2015, the Company completed the sale of its interest in the DMC Partnership, as described above.

Mortgages and Other Notes Rec39

Mortgages and Other Notes Receivable, net (Tables)	12 Months Ended
	Dec. 31, 2015
Mortgages and Other Notes Receivable	As of December 31, 2015 and 2014, mortgages and other notes receivable consisted of the following (in thousands): Borrower Date of Loan Maturity Interest Accrued Loan Principal Balance As of December 31, (Description of Collateral Property) Agreement(s) Date Rate Interest 2015 2014 CMR Properties, LLC and CM Resort, LLC 6/15/2010 (1) 9.0%-11.0% $ — $ — $ 16,620 Grand Prix Tampa, LLC 7/31/2011 (1) 8.5% — — 3,395 Total $ — — 20,015 Accrued interest — 864 Acquisition fees, net — 46 Loan loss provision — (1,564 ) Total carrying amount $ — $ 19,361 FOOTNOTES: (1) The Company collected the mortgage receivable in 2015.

Indebtedness (Tables)

Indebtedness (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Future Principal Payments and Maturities for indebtedness	Mortgages and Other Notes Payable Collateral and Approximate Carrying Value of Collateral at December 31, 2015 Interest Rate Maturity Principal Balance as of 2015 2014 Variable rate debt: Mortgage debt 1 ski and mountain lifestyle property, 30-day LIBOR + 3.3% (1)(2) 9/1/2019 $ 8,037 $ 8,402 $18.3 million Mortgage debt 1 ski and mountain lifestyle property 30-day LIBOR + 4.5% (1)(2) (3) — (3) 14,550 Mortgage debt 1 attractions property, 30-day LIBOR + 3.0% (1) 11/30/2017 (4) 18,156 20,781 $44.6 million Mortgage debt 5 senior housing properties 30-day LIBOR + 3.5% (1) (5) — (5) 30,000 Mortgage debt 8 senior housing properties 30-day LIBOR + 2.5% (1) (5) — (5) 105,000 Mortgage debt 4 ski and mountain lifestyle property, 30-day LIBOR + 1.5%-3.5% (1) 4/5/2017 37,847 39,077 $145.4 million Total variable rate debt $ 64,040 $ 217,810 Fixed rate debt: Mortgage debt 8 senior housing properties 4.35% - 4.5% (5) $ — (5) $ 57,711 Mortgage debt 1 attractions lifestyle property, 6.8% 9/28/2016 18,552 18,939 $29.0 million Mortgage debt 6 ski and mountain lifestyle properties, 6.1% 4/5/2017 90,799 95,908 $194.3 million Mortgage debt 3 marina properties, 6.3% - 6.5% 9/1/2016- 10,696 11,358 $23.1 million 12/1/2016 Mortgage debt 3 senior housing properties 4.40% (5) — (5) 16,368 Mortgage debt 1 attraction property 6.0% (3) — (3) 42,859 Mortgage debt 4 senior housing properties 3.79% (5) — (5) 46,165 Mortgage debt 1 attractions property 6.1% - 6.4% (3) — (3) 7,395 Mortgage debt 3 senior housing properties 4.75% - 6.9% (5) — (5) 32,411 Other debt — (6) 12/1/2020 1,705 1,989 Senior notes (7) 7.3% (7) — (7) 318,250 Total fixed rate debt $ 121,752 $ 649,353 Total debt $ 185,792 $ 867,163 Premium (discount) $ (53 ) $ 187 Total $ 185,739 $ 867,350 FOOTNOTES: (1) The 30-day LIBOR rate was approximately 0.43% and 0.17% as of December 31, 2015 and 2014, respectively. (2) The Company entered into interest rate swaps for these variable rate debts. See Note 11. “Derivative instruments and Hedging Activities” for additional information. (3) The Company repaid the debt in 2015. (4) This loan was amended in November 2015 to extend the maturity date to November 30, 2017. All other terms remained the same. (5) The Company sold the properties in 2015. A portion of the outstanding debt was repaid using proceeds from the sale of the properties, while the remaining debt was assumed by the third-party buyer of the properties. (6) The $1.7 million loan is non-interest bearing. (7) The Company issued $400.0 million senior notes which were guaranteed by certain of its properties. The senior notes were paid in full in June 2015.
Schedule of Future Principal Payments and Maturities for Indebtedness	The following is a schedule of future principal payments and maturities for all indebtedness (in thousands): 2016 $ 38,921 2017 137,929 2018 438 2019 6,799 2020 1,705 Thereafter — $ 185,792

Derivative Instruments and He41

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Terms and Fair Values of Derivative Financial Instruments	The following table summarizes the terms and fair values of the Company’s derivative financial instruments (in thousands): Fair Value Liability Notional Strike (1) Credit (1) Trade Maturity December 31, 2015 2014 $ 8,037 3.6% 3.3% 9/28/09 9/1/19 $ (618 ) $ (719 ) $ 14,175 2.2% 4.5% 1/13/11 12/31/15 $ — $ (283 ) FOOTNOTE: (1) The strike rate does not include the credit spread on each of the notional amounts.
Summary of Terms and Fair Values of Derivative Financial Instruments	The following table summarizes the gross and net amounts of the Company’s derivative financial instruments (in thousands): As of December 31, 2015 Notional Gross Gross Net Amounts of Liabilities Gross Amounts Not Offset in the Balance Sheets Cash Flow Recognized Offset in the Presented in the Financial Cash Net $ 8,037 $ (618 ) $ — $ (618 ) $ (618 ) $ — $ (618 ) As of December 31, 2014 Notional Gross Gross Net Amounts of Liabilities Gross Amounts Not Offset in the Balance Sheets Cash Flow Recognized Offset in the Presented in the Financial Cash Net $ 8,402 $ (719 ) $ — $ (719 ) $ (719 ) $ — $ (719 ) $ 14,550 $ (283 ) — (283 ) (283 ) $ — (283 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015
Financial Assets and Liabilities Carried at Fair Value	The following tables show the Company’s financial assets and liabilities carried at fair value as of December 31, 2015 and 2014, as follows (in thousands): Fair Value Level 1 Level 2 Level 3 Assets: Real estate investment properties, net $ 184,061 $ — $ — $ 184,061 Assets held for sale, net 40,588 — — 40,588 $ 224,649 $ — $ — $ 224,649 Liabilities: Derivative instruments $ 618 $ — $ 618 $ — Fair Value Level 1 Level 2 Level 3 Assets: Assets held for sale $ 122,126 $ — $ — $ 122,126 Liabilities: Derivative instruments $ 1,002 $ — $ 1,002 $ —

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Components of Deferred Taxes	The components of the deferred taxes recognized in the accompanying consolidated balance sheets at December 31, 2015 and 2014 are as follows (in thousands): Year Ended December 31, 2015 2014 Net operating losses $ 107,655 $ 107,494 Book/tax differences in deferred income 5,302 4,175 Book/tax differences in acquired assets (36,732 ) (53,428 ) Total deferred tax asset 76,225 58,241 Valuation allowance (76,225 ) (58,241 ) $ — $ —

Related Party Arrangements (Tab

Related Party Arrangements (Tables)	12 Months Ended
	Dec. 31, 2015
Earned Acquisition Fees and Incurred Reimbursable Expenses	For the years ended December 31, 2015, 2014 and 2013, the Advisor collectively earned fees and incurred reimbursable expenses as follows (in thousands): Year Ended December 31, 2015 2014 2013 Acquisition fees: Acquisition fees from offering proceeds (1) $ — $ 319 $ 1,286 Acquisition fees from debt proceeds (2) — 1,521 3,273 Total — 1,840 4,559 Asset management fees (3) 19,726 29,863 34,683 Reimbursable expenses: (4) Acquisition costs (5) — 248 299 Operating expenses (6) 5,451 6,680 7,092 Total 5,451 6,928 7,391 Total fees earned and reimbursable expenses $ 25,177 $ 38,631 $ 46,633 FOOTNOTES: (1) Prior to April 1, 2014, acquisition fees were paid for services in connection with the selection, purchase, development or construction of real property. The fees were generally equal to 3.0% of gross offering proceeds from the sale of the Company’s common stock including proceeds from shares sold under its distribution reinvestment plan (“DRP”). Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as acquisition fees and costs in the accompanying consolidated statements of operations. (2) Prior to April 1, 2014, acquisition fees from debt proceeds were paid for services in connection with the incurrence of indebtedness, including the Company’s pro-rata share of joint venture indebtedness. The fees were generally equal to 3.0% of loan proceeds. Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as loan costs and are included as part of other assets in the accompanying consolidated balance sheets. (3) Amounts recorded as asset management fees to Advisor include fees of $4.1 million, $11.2 million and $11.6 million for the years ended December 31, 2015, 2014 and 2013, respectively, related to properties that are classified as assets held for sale that are included as discontinued operations in the accompanying consolidated statements of operations. Effective April 1, 2014, the asset management fees to Advisor were reduced as described above. (4) The Advisor and its affiliates are entitled to reimbursement of certain expenses incurred on behalf of the Company in connection with the Company’s organization, offering, acquisitions, and operating activities. Pursuant to the advisory agreement, the Company will not reimburse the Advisor for any amount by which total operating expenses paid or incurred by the Company exceed the greater of 2.0% of average invested assets or 25.0% of net income (the “Expense Cap”) in any expense year, as defined in the advisory agreement. For the expense years ended December 31, 2015, 2014 and 2013, operating expenses did not exceed the Expense Cap. Amounts representing acquisition costs are recorded as part of acquisition fees and costs in the accompanying consolidated statements of operations. Amounts representing operating expenses are recorded as part of general and administrative expenses in the accompanying consolidated statements of operations. (5) Includes approximately $0.04 million, and $0.1 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2014 and 2013, respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges. There were no such expenses recorded in acquisition costs during the year ended December 31, 2015. (6) Includes approximately $0.4 million, $0.4 million and $0.6 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges.
Amounts Due to Affiliates for Fees and Expense	Amounts due to affiliates for fees and expenses described above are as follows (in thousands): As of December 31, 2015 2014 Due to the Advisor and its affiliates: Operating expenses $ 420 $ 476 Acquisition fees and expenses — 13 Total $ 420 $ 489

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Tax Composition of Distributions Declared	The tax composition of distributions declared for years ended December 31, 2015, 2014 and 2013 were as follows: December 31, Distribution Type 2015 2014 2013 Taxable as ordinary income 28.0 % 0.0 % 0.0 % Taxable as capital gain 18.3 % 0.0 % 29.3 % Return of capital 53.7 % 100.0 % 70.7 %
Schedule of Redemption Requests	The following details the Company’s redemptions for the year ended December 31, 2014 (in thousands except per share data). First Second Third Fourth Full Year 2014 Quarters Requests in queue 10,547 10,798 10,809 11,572 10,547 Redemptions requested 778 864 1,355 — 2,997 Shares redeemed: Prior period requests (135 ) (80 ) (60 ) — (275 ) Current period request (300 ) (369 ) (439 ) — (1,108 ) Adjustments (1) (92 ) (404 ) (93 ) — (589 ) Pending redemption requests (2) 10,798 10,809 11,572 11,572 11,572 Average price paid per share $ 6.85 $ 6.85 $ 6.81 $ — $ 6.84 FOOTNOTES: (1) This amount represents redemption request cancellations and other adjustments. (2) Requests that were not fulfilled in whole during a particular quarter were redeemed on a pro rata basis to the extent funds were made available pursuant to the redemption plan. The redemption plan was suspended in September 2014.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Future Obligations under Ground Leases and Land Permits	The following is a schedule of future obligations under ground leases and land permits (in thousands): 2016 $ 12,733 2017 12,733 2018 12,718 2019 12,626 2020 12,626 Thereafter 171,651 Total $ 235,087

Selected Quarterly Financial 47

Selected Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Data	First Second Third Fourth Full Year 2015 Quarters Total revenues $ 71,992 $ 85,659 $ 127,600 $ 52,414 $ 337,665 Operating income (loss) (7,107 ) (7,689 ) 36,026 (130,921 ) (109,691 ) Equity in earnings (loss) of unconsolidated entities 3,561 (783 ) 1,162 2,213 6,153 Income (loss) from continuing operations (14,607 ) (38,208 ) 34,295 (130,842 ) (149,362 ) Discontinued operations (1) 7,052 199,720 7,614 (9,715 ) 204,671 Gain (loss) on sale of real estate — 27,337 (1,064 ) 20,321 46,594 Gain from sale of unconsolidated entities — 39,252 — — 39,252 Net income (loss) (7,555 ) 228,101 40,845 (120,236 ) 141,155 Weighted average number of shares outstanding (basic and diluted) 325,183 325,183 325,183 325,183 325,183 Earnings (loss) per share of common stock (basic and diluted) $ (0.02 ) $ 0.70 $ 0.13 $ (0.38 ) $ 0.43 First Second Third Fourth Full Year 2014 Quarters Total revenues $ 72,380 $ 94,657 $ 144,551 $ 61,707 $ 373,295 Operating income (loss) (2,185 ) 726 43,389 (52,308 ) (10,378 ) Equity in earnings (loss) of unconsolidated entities 4,299 (526 ) 3,176 804 7,753 Income (loss) from continuing operations (11,882 ) (15,071 ) 30,086 (63,571 ) (60,438 ) Discontinued operations (1) (8,471 ) 6,566 537 (30,338 ) (31,706 ) Net income (loss) (20,353 ) (8,505 ) 30,623 (93,909 ) (92,144 ) Weighted average number of shares outstanding (basic and diluted) 322,639 324,197 325,707 325,214 324,451 Earnings (loss) per share of common stock (basic and diluted) $ (0.06 ) $ (0.03 ) $ 0.09 $ (0.29 ) $ (0.28 ) FOOTNOTES: (1) The Company classified certain properties as assets held for sale and reclassified the results related to those properties to discontinued operations for all periods presented.

Organization and Nature of Bu48

Organization and Nature of Business - Additional Information (Detail) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2015USD ($)	Dec. 31, 2015USD ($)Property	Dec. 31, 2014USD ($)Property	Dec. 31, 2013USD ($)
Organization And Nature Of Business [Line Items]
Number of properties held for sale		49
Aggregate net sales proceeds from sale of properties | $		$ 992,738	$ 384,293	$ 12,401
Number of properties held for sale		6	61
Marinas Property
Organization And Nature Of Business [Line Items]
Number of properties held for sale		5
Number of properties sold		12
Number of properties held for sale		17
Ski and Mountain Lifestyle Properties
Organization And Nature Of Business [Line Items]
Number of properties sold		1
Number of properties held for sale		1
Attractions properties
Organization And Nature Of Business [Line Items]
Number of properties sold		4
Unconsolidated Joint Ventures
Organization And Nature Of Business [Line Items]
Number of properties held for sale		7
DMC Partnership | Majority-Owned Subsidiary, Unconsolidated
Organization And Nature Of Business [Line Items]
Company's ownership percentage sold	81.98%	81.98%
Proceed from sale of interest in joint venture | $	$ 139,500	$ 139,500
Golf Facilities
Organization And Nature Of Business [Line Items]
Number of properties sold		48	48
Senior Housing Property
Organization And Nature Of Business [Line Items]
Number of properties sold		38
Aggregate net sales proceeds from sale of properties | $		$ 992,700
Canada
Organization And Nature Of Business [Line Items]
Number of properties held for sale		3
Minimum
Organization And Nature Of Business [Line Items]
Long-term lease		5 years
Maximum
Organization And Nature Of Business [Line Items]
Long-term lease		20 years

Significant Accounting Polici49

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Line Items]
Accumulated amortization of long-term debt financing costs	$ 6.9	$ 30.9
Minimum
Accounting Policies [Line Items]
Percentage of taxable income and capital gains required to be distributed not to be subjected to federal corporate income taxes	100.00%
Building and Building Improvements | Maximum
Accounting Policies [Line Items]
Depreciation period for property	39 years

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015Property
Business Combination, Transactions [Line Items]
Number of properties acquired	0

Schedule of Acquired Properties

Schedule of Acquired Properties (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Purchase Price	$ 153,900
Pacifica Senior Living Victoria Court - One senior housing property
Business Acquisition [Line Items]
Product/Description	Pacifica Senior Living Victoria Court-One senior housing property
Location	Rhode Island
Date of Acquisition	Jan. 15, 2014	[1]
Purchase Price	$ 15,250
Pacifica Senior Living Northridge - One senior housing property
Business Acquisition [Line Items]
Product/Description	Pacifica Senior Living Northridge-One senior housing property
Location	California
Date of Acquisition	Jun. 6, 2014	[1]
Purchase Price	$ 25,250
La Conner Retirement Inn - One senior housing property
Business Acquisition [Line Items]
Product/Description	La Conner Retirement Inn-One senior housing property
Location	Washington
Date of Acquisition	Jun. 2, 2014	[1]
Purchase Price	$ 8,250
South Pointe Assisted Living - One senior housing property
Business Acquisition [Line Items]
Product/Description	South Pointe Assisted Living-One senior housing property
Location	Washington
Date of Acquisition	Jun. 2, 2014	[1]
Purchase Price	$ 4,300
Pacifica Senior Living Modesto - One senior housing property
Business Acquisition [Line Items]
Product/Description	Pacifica Senior Living Modesto-One senior housing property
Location	California
Date of Acquisition	Jul. 24, 2014	[1]
Purchase Price	$ 16,250	[2]
Pacifica Senior Living Bakersfield - One senior housing property
Business Acquisition [Line Items]
Product/Description	Pacifica Senior Living Bakersfield-One senior housing property
Location	California
Date of Acquisition	Jul. 25, 2014	[1]
Purchase Price	$ 28,750	[2]
Pacifica Senior Living Wilmington - One senior housing property
Business Acquisition [Line Items]
Product/Description	Pacifica Senior Living Wilmington-One senior housing property
Location	North Carolina
Date of Acquisition	Jul. 25, 2014	[1]
Purchase Price	$ 22,250	[2]
The Oaks at Braselton - One senior housing property
Business Acquisition [Line Items]
Product/Description	The Oaks at Braselton-One senior housing property
Location	Georgia
Date of Acquisition	Sep. 22, 2014	[1]
Purchase Price	$ 15,000
The Oaks at Post Road - One senior housing property
Business Acquisition [Line Items]
Product/Description	The Oaks at Post Road-One senior housing property
Location	Georgia
Date of Acquisition	Sep. 22, 2014	[1]
Purchase Price	$ 18,600
[1]	These properties were subject to long-term triple-net leases with an initial term of 10 years with renewal options at the time of acquisition. All of these properties were sold in 2015.
[2]	In connection with acquiring these properties the Company assumed the fair value of loans with an aggregate principal outstanding balance of approximately $25.5 million. See Note 10. "Indebtedness" for additional information.

Schedule of Acquired Properti52

Schedule of Acquired Properties (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2014USD ($)
Business Acquisition [Line Items]
Long-term triple-net lease inclusive of renewal options, initial term	10 years
Senior Housing Properties
Business Acquisition [Line Items]
Principal outstanding balance of loans assumed through acquisition	$ 25.5

Summary of Purchase Price Alloc

Summary of Purchase Price Allocation (Detail) $ in Thousands	Dec. 31, 2014USD ($)
Business Combination, Transactions [Line Items]
In-place lease intangibles	$ 1,723	[1]
Other liabilities	(900)
Total purchase price consideration	128,390
Other intangibles
Business Combination, Transactions [Line Items]
Intangibles	4,566
Land and land improvements
Business Combination, Transactions [Line Items]
Net assets acquired	25,213
Buildings
Business Combination, Transactions [Line Items]
Net assets acquired	120,059
Equipment
Business Combination, Transactions [Line Items]
Net assets acquired	5,127
Repossessed And Foreclosed Asset
Business Combination, Transactions [Line Items]
Assumed mortgages	$ (27,398)
[1]	The weighted-average amortization period for intangible in-place leases acquired were 10 years as of the date of acquisition.

Summary of Purchase Price All54

Summary of Purchase Price Allocation (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2014
In place leases
Business Combination, Transactions [Line Items]
Weighted-average amortization period for intangible lease	10 years

Schedule of Real Estate Investm

Schedule of Real Estate Investment Properties (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Less: accumulated depreciation and amortization	$ (580,590)	$ (507,663)
Real estate investment properties, net	712,589	882,089
Land and land improvements
Real Estate Properties [Line Items]
Real estate investment properties, Total	369,902	415,968
Leasehold interests and improvements
Real Estate Properties [Line Items]
Real estate investment properties, Total	170,970	180,514
Building and Building Improvements
Real Estate Properties [Line Items]
Real estate investment properties, Total	245,372	273,210
Equipment
Real Estate Properties [Line Items]
Real estate investment properties, Total	$ 506,935	$ 520,060

Real Estate Investment Proper56

Real Estate Investment Properties, net - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)PropertyTenant	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation and amortization expenses	$ 83,481	$ 98,664	$ 94,459
Impairment provisions	$ 124,873	30,428	50,033
Number of tenants | Tenant	1
Number of real estate properties | Property	49
Attractions Properties
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Impairment provisions	$ 123,100
Number of real estate properties | Property	3
Non Core Attractions Properties
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Impairment provisions			7,500
Real Estate investment properties, net
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Impairment provisions		0
Continuing Operations
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Depreciation and amortization expenses	$ 82,800	$ 98,000	$ 93,900

Assets and Associated Liabili57

Assets and Associated Liabilities Held for Sale, net and Discontinued Operations - Additional Information (Detail)	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)Property	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)Property	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)Property	Dec. 31, 2014USD ($)Property	Dec. 31, 2013USD ($)
Assets Held for Sale and Discontinued Operations [Line Items]
Number of properties held for sale | Property	6				61				6	61
Gain or loss on sale of properties									$ 246,800,000	$ 4,100,000
Sale of properties, outstanding principal indebtedness assumed									529,893,000	365,224,000	$ 18,800,000
Net proceeds from sale of real estate investments									992,738,000	384,293,000	12,401,000
Net income (Loss) from continuing operations	$ (120,236,000)	$ 40,845,000	$ 228,101,000	$ (7,555,000)	$ (93,909,000)	$ 30,623,000	$ (8,505,000)	$ (20,353,000)	141,155,000	(92,144,000)	(252,539,000)
Impairment provisions									124,873,000	30,428,000	50,033,000
Impairment provisions related to real state properties									$ 7,749,000	$ 37,867,000	219,502,000
Attractions properties
Assets Held for Sale and Discontinued Operations [Line Items]
Number of properties sold | Property									4
Gain or loss on sale of properties									$ 46,600,000
Golf Facilities
Assets Held for Sale and Discontinued Operations [Line Items]
Number of properties sold | Property									48	48
Impairment provisions related to real state properties											219,500,000
Multi Family Residential
Assets Held for Sale and Discontinued Operations [Line Items]
Number of properties sold | Property										1
Unimproved Land
Assets Held for Sale and Discontinued Operations [Line Items]
Impairment provisions									$ 1,800,000	$ 30,400,000	42,500,000
Senior Housing Property
Assets Held for Sale and Discontinued Operations [Line Items]
Number of properties sold | Property									38
Gain or loss on sale of properties									$ 200,200,000
Sale of properties, outstanding principal indebtedness assumed									151,500,000
Disposition fee									0
Net proceeds from sale of real estate investments									$ 992,700,000
Marinas Property
Assets Held for Sale and Discontinued Operations [Line Items]
Number of properties held for sale | Property	17								17
Number of properties sold | Property									12
Gain or loss on sale of properties									$ 200,200,000
Impairment provisions related to real state properties									$ 7,700,000	33,400,000
Ski and Mountain Lifestyle Properties
Assets Held for Sale and Discontinued Operations [Line Items]
Number of properties held for sale | Property	1								1
Number of properties sold | Property									1
Gain or loss on sale of properties									$ 46,600,000
Ski and Mountain Lifestyle Properties | Assets Held-for-sale
Assets Held for Sale and Discontinued Operations [Line Items]
Net income (Loss) from continuing operations									19,800,000	$ (1,200,000)	$ (2,400,000)
Ski and Mountain Lifestyle Properties | (Loss) income from continuing operations
Assets Held for Sale and Discontinued Operations [Line Items]
Gain or loss on sale of properties									$ 13,500,000

Properties Classified as Assets

Properties Classified as Assets Held for Sale (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	$ 42,719	$ 968,641
Land and land improvements
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	5,673	213,129
Leasehold interests and improvements
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	27,184	52,589
Building and Building Improvements
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	6,352	599,923
Equipment
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	1,378	59,345
Deferred Rent And Lease Incentives
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net		4,832
Other Assets
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	25	10,919
Restricted cash
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	1,408	14,714
Intangibles, net
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net		10,503
Accounts and other receivables, net
Long Lived Assets Held-for-sale [Line Items]
Assets held for sale, net	$ 699	$ 2,687

Liabilities Held for Sale (Deta

Liabilities Held for Sale (Detail) $ in Thousands	Dec. 31, 2014USD ($)
Assets and Liabilities Held for Sale [Line Items]
Mortgages and other notes payable	$ 152,655
Other liabilities	19,090
Total	$ 171,745

Summary of Loss from Discontinu

Summary of Loss from Discontinued Operations (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		$ 65,796	$ 178,887	$ 160,604
Expenses		(49,251)	(115,773)	(111,807)
Depreciation and amortization			(36,709)	(55,852)
Impairment provision		(7,749)	(37,867)	(219,502)
Operating income (loss)		8,796	(11,462)	(226,557)
Net gain from sale of real estate		200,243	4,144	2,408
Loss on extinguishment of debt	[1]	(2,042)	(4,818)
Gain on insurance and retirements		2,816	4,791
Other income (expense)	[2]	(5,142)	(24,361)	(16,968)
Income (loss) from discontinued operations		$ 204,671	$ (31,706)	$ (241,117)
[1]	During the year ended December 31, 2015, the Company recorded gain (loss) on extinguishment of debt from the sale of the 38 senior housing properties. During the year ended December 31, 2014, the Company recorded loss on extinguishment of debt from the sale of its 48 golf properties and its multi-family residential property.
[2]	Amounts include amortization of loss and loss on termination of cash flow hedge of approximately $3.0 million and $1.7 million for the years ended December 31, 2014 and 2013, respectively. There was no amortization of loss and loss on termination of cash flow hedge for the year ended December 31, 2015.

Summary of Income or Loss from

Summary of Income or Loss from Discontinued Operations (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)Property	Dec. 31, 2014USD ($)Property	Dec. 31, 2013USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amortization of loss and loss on termination of cash flow hedges | $	$ 0	$ 3,000,000	$ 1,700,000
Senior Housing Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold	38
Golf Properties And Multi Family Residential Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold		48

Gross Carrying Amount and Accum

Gross Carrying Amount and Accumulated Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 21,500	$ 22,410
Accumulated Amortization	(5,013)	(4,399)
Net Book Value	16,487	18,011
In place leases
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	11,203	11,584
Accumulated Amortization	(5,013)	(4,399)
Net Book Value	6,190	7,185
Trade name (infinite-lived)
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	10,297	10,826
Net Book Value	$ 10,297	$ 10,826

Intangible Assets Net - Additio

Intangible Assets Net - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Intangible Assets Disclosure [Line Items]
Amortization of intangible assets	$ 700,000	$ 700,000	$ 600,000
Lease termination
Intangible Assets Disclosure [Line Items]
Write off lease intangibles related to lease terminations	$ 800,000	$ 0	$ 100,000

Estimated Future Amortization E

Estimated Future Amortization Expense of Intangible Assets (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Finite Lived Intangible Assets And Liabilities Future Amortization Expense [Line Items]
2,016	$ 640
2,017	623
2,018	552
2,019	552
2,020	552
Thereafter	3,271
Total	$ 6,190

Operating Leases - Additional I

Operating Leases - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Leases	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Schedule of Operating Leases [Line Items]
Triple-net lease, total percentage rent	$ 3.3	$ 2.9	$ 2.5
Triple-net lease, capital improvement reserve rent	21.9	23.9	21
Total annualized property taxes	$ 6.4	$ 8.6	$ 11.9
Long-Term Triple Net Lease Agreements
Schedule of Operating Leases [Line Items]
Properties leased under long-term, triple-net leases to third-parties | Leases	24

Schedule of Future Minimum Leas

Schedule of Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
2,016	$ 96,447
2,017	98,721
2,018	99,747
2,019	100,298
2,020	100,765
Thereafter	820,487
Total	$ 1,316,465

Variable Interest and Unconso67

Variable Interest and Unconsolidated Entities - Additional Information (Detail)		1 Months Ended	12 Months Ended
		Apr. 30, 2015USD ($)	Dec. 31, 2015USD ($)LoanEntityOption	Dec. 31, 2014USD ($)Entity	Dec. 31, 2013USD ($)
Variable Interest Entity [Line Items]
Number of wholly-owned subsidiaries | Entity			3	6
Number of buy out options exercisable | Option			3
Maximum exposure to loss on investment			$ 45,100,000	$ 151,800,000
Investments in unconsolidated entities			73,434,000	127,102,000
Payment of mortgage loan			529,893,000	365,224,000	$ 18,800,000
Total Debt Obligation			$ 11,100,000	198,200,000
Number of mortgage loans repaid | Loan			2
Fixed Asset Disposal
Variable Interest Entity [Line Items]
Number of wholly-owned subsidiaries | Entity			3
DMC Partnership
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	[1],[2]			104,402,000
DMC Partnership | Majority-Owned Subsidiary, Unconsolidated
Variable Interest Entity [Line Items]
Investments in unconsolidated entities				104,400,000
Proceed from sale of interest in joint venture		$ 139,500,000	$ 139,500,000
Company's ownership percentage sold		81.98%	81.98%
Gain on Disposal of Discontinued Operations		$ 39,300,000
Disposition fee		$ 0
Intrawest Venture
Variable Interest Entity [Line Items]
Investments in unconsolidated entities	[1]		$ 73,434,000	$ 22,700,000
Payment of mortgage loan			54,600,000
Intrawest Venture | Majority-Owned Subsidiary, Unconsolidated
Variable Interest Entity [Line Items]
Payment of mortgage loan			$ 54,600,000
Percentage of ownership by parent				80.00%
Noncontrolling interest, ownership percentage by noncontrolling owners				20.00%
Mature in January | Intrawest Venture
Variable Interest Entity [Line Items]
Mortgage loan maturity date			2015-01
Mature in June | Intrawest Venture
Variable Interest Entity [Line Items]
Mortgage loan maturity date			2015-06
Minimum
Variable Interest Entity [Line Items]
Remaining three buy-out options expiration year			2,030
Maximum
Variable Interest Entity [Line Items]
Remaining three buy-out options expiration year			2,032
Canada Revenue Agency
Variable Interest Entity [Line Items]
Maximum exposure to loss on investment			$ 1,100,000
Accruals for loss on investment			$ 300,000
[1]	As of December 31, 2015 and 2014, the Company's share of partners' capital determined under HLBV was approximately $71.4 million and $119.6 million, respectively, and the total difference between the carrying amount of the investment and the Company's share of partners' capital determined under HLBV was approximately $2.0 million and $7.5 million, respectively.
[2]	On April 29, 2015, the Company completed the sale of its interest in the DMC Partnership, as described above.

Aggregate Carrying Amount and M

Aggregate Carrying Amount and Major Classifications of Consolidated Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Real estate investment properties, net	$ 58,832	$ 67,789
Assets held for sale		103,753
Other assets	6,752	26,376
Liabilities
Mortgages and other notes payable	19,677	30,412
Other liabilities	$ 792	$ 15,695

Summary of Financial Informatio

Summary of Financial Information of Unconsolidated Entities (Detail) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Schedule of Unconsolidated Entities [Line Items]
Revenues		$ 52,414	$ 127,600	$ 85,659	$ 71,992	$ 61,707	$ 144,551	$ 94,657	$ 72,380	$ 337,665		$ 373,295		$ 362,490
Property operating expenses										(172,627)		(190,165)		(187,581)
Depreciation and amortization										(83,481)		(98,664)		(94,459)
Equity in earnings (loss) on unconsolidated entities		$ 2,213	$ 1,162	$ (783)	$ 3,561	$ 804	$ 3,176	$ (526)	$ 4,299	6,153		7,753		11,701
DMC Partnership
Schedule of Unconsolidated Entities [Line Items]
Revenues										10,743	[1]	28,519		28,062
Property operating expenses										(173)	[1]	(776)		(796)
Depreciation and amortization										(3,038)	[1]	(9,114)		(9,182)
Interest income (expense)										(1,555)	[1]	(8,175)		(7,908)
Interest and other income (expense)												(35)		3
Net income (loss)										5,977	[1]	10,419		10,179
Income (loss) allocable to other venture partners										3,477	[1],[2]	1,602	[2]	(1,166)	[1]
Income (loss) allocable to the Company										2,500	[1],[2]	8,817	[2]	11,345	[1]
Amortization of capitalized costs										(25)	[1]	(298)		(433)
Equity in earnings (loss) on unconsolidated entities										2,475	[1]	8,519		10,912
Distribution declared to the Company										3,698	[1]	11,345		11,345
Distributions received by the Company										6,558	[1]	11,345		11,337
Intrawest Venture
Schedule of Unconsolidated Entities [Line Items]
Revenues										18,778		19,856		19,416
Property operating expenses										(11,114)		(10,744)		(10,492)
Depreciation and amortization										(4,160)		(6,005)
Interest income (expense)										(1,328)		(5,408)		(6,411)
Interest and other income (expense)												132		33
Net income (loss)										2,176		(2,169)		2,546
Income (loss) allocable to other venture partners	[3]									(1,611)	[2]	(1,612)	[2]	(1,611)	[1]
Income (loss) allocable to the Company										3,787	[2]	(557)	[2]	4,157	[1]
Amortization of capitalized costs										(109)		(209)		(233)
Equity in earnings (loss) on unconsolidated entities										3,678		(766)		3,924
Distribution declared to the Company										7,218		2,277		1,998
Distributions received by the Company										6,529		2,152		2,427
Majority-Owned Subsidiary, Unconsolidated
Schedule of Unconsolidated Entities [Line Items]
Revenues										29,521		48,375		159,968
Property operating expenses										(11,287)		(11,520)		(87,335)
Depreciation and amortization										(7,198)		(15,119)		(25,294)
Interest income (expense)										(2,883)		(13,583)		(35,458)
Interest and other income (expense)												97		56
Net income (loss)										8,153		8,250		11,937
Income (loss) allocable to other venture partners										1,866	[2]	(10)	[2]	(2,338)	[1]
Income (loss) allocable to the Company										6,287	[2]	8,260	[2]	14,275	[1]
Amortization of capitalized costs										(134)		(507)		(2,574)
Equity in earnings (loss) on unconsolidated entities										6,153		7,753		11,701
Distribution declared to the Company										10,916		13,622		23,839
Distributions received by the Company										$ 13,087		$ 13,497		32,046
CNLSun I Venture
Schedule of Unconsolidated Entities [Line Items]
Revenues	[4]													71,287
Property operating expenses	[4]													(45,999)
Depreciation and amortization	[4]													(10,994)
Interest income (expense)	[4]													(16,154)
Interest and other income (expense)	[4]													20
Net income (loss)	[4]													(1,840)
Income (loss) allocable to other venture partners	[1],[4]													(1,341)
Income (loss) allocable to the Company	[1],[4]													(499)
Amortization of capitalized costs	[4]													(1,305)
Equity in earnings (loss) on unconsolidated entities	[4]													(1,804)
Distribution declared to the Company	[4]													7,797
Distributions received by the Company	[4],[5]													11,750
CNLSun II Venture
Schedule of Unconsolidated Entities [Line Items]
Revenues	[4]													19,654
Property operating expenses	[4]													(15,439)
Depreciation and amortization	[4]													(2,244)
Interest income (expense)	[4]													(2,057)
Net income (loss)	[4]													(86)
Income (loss) allocable to other venture partners	[1],[4]													(8)
Income (loss) allocable to the Company	[1],[4]													(78)
Amortization of capitalized costs	[4]													(431)
Equity in earnings (loss) on unconsolidated entities	[4]													(509)
Distribution declared to the Company	[4]													1,039
Distributions received by the Company	[4],[5]													1,567
CNLSun III Venture
Schedule of Unconsolidated Entities [Line Items]
Revenues	[4]													21,549
Property operating expenses	[4]													(14,609)
Depreciation and amortization	[4]													(2,874)
Interest income (expense)	[4]													(2,928)
Net income (loss)	[4]													1,138
Income (loss) allocable to other venture partners	[1],[4]													1,788
Income (loss) allocable to the Company	[1],[4]													(650)
Amortization of capitalized costs	[4]													(172)
Equity in earnings (loss) on unconsolidated entities	[4]													(822)
Distribution declared to the Company	[4]													1,660
Distributions received by the Company	[4],[5]													$ 4,965
[1]	On April 29, 2015, the Company completed the sale of its interest in the DMC Partnership as described above. As such, the summarized operating data for the partnership is reported through April 29, 2015.
[2]	Income is allocated between the Company and its venture partners using the hypothetical liquidation book value ("HLBV") method of accounting.
[3]	This amount represents the venture partner's portion of interest expense on a loan which the partners made to the venture. These amounts are treated as distributions for the purposes of the HLBV calculation.
[4]	On July 1, 2013, the Company completed the sale of its interest in 42 senior housing properties held through CNLSun I, CNLSun II and CNLSun III ventures as discussed above. As such, summarized operating data for those ventures is reported through June 30, 2013.
[5]	For the year ended December 31, 2013, distributions received by the Company includes approximately $4.0 million, $0.5 million and $0.8 million in return of capital on the CNLSun I, CNLSun II and CNLSun III ventures, respectively.

Summary of Financial Informat70

Summary of Financial Information of Unconsolidated Entities (Parenthetical) (Detail) $ in Millions	Jul. 01, 2013Property	Dec. 31, 2013USD ($)
CNLSun I Venture
Schedule of Unconsolidated Entities [Line Items]
Distributions received by the Company		$ 4
CNLSun II Venture
Schedule of Unconsolidated Entities [Line Items]
Distributions received by the Company		0.5
CNLSun III Venture
Schedule of Unconsolidated Entities [Line Items]
Distributions received by the Company		$ 0.8
Unconsolidated Properties | Joint Venture Agreement
Schedule of Unconsolidated Entities [Line Items]
Number of properties sold | Property	42

Summarized Balance Sheet Data o

Summarized Balance Sheet Data of Unconsolidated Entities (Detail) - USD ($) $ in Thousands		Dec. 31, 2015	Dec. 31, 2014
Schedule of Unconsolidated Entities [Line Items]
Real estate assets, net		$ 712,589	$ 882,089
Other assets		18,176	29,091
Mortgages and other notes payable		185,739	397,849
Other liabilities		27,160	41,388
Carrying amount of investment		73,434	127,102
DMC Partnership
Schedule of Unconsolidated Entities [Line Items]
Real estate assets, net	[1]		221,986
Other assets	[1]		15,642
Mortgages and other notes payable	[1]		131,500
Other liabilities	[1]		6,795
Partners' capital	[1]		99,333
Carrying amount of investment	[1],[2]		$ 104,402
Company's ownership percentage	[1],[2]		81.98%
Intrawest Venture
Schedule of Unconsolidated Entities [Line Items]
Real estate assets, net		66,493	$ 74,131
Other assets		15,495	16,412
Mortgages and other notes payable		11,100	66,690
Other liabilities		16,552	18,537
Partners' capital		54,336	5,316
Carrying amount of investment	[2]	$ 73,434	$ 22,700
Company's ownership percentage	[2]	80.00%	80.00%
Total
Schedule of Unconsolidated Entities [Line Items]
Real estate assets, net			$ 296,117
Other assets			32,054
Mortgages and other notes payable			198,190
Other liabilities			25,332
Partners' capital			104,649
Carrying amount of investment	[2]		$ 127,102
[1]	On April 29, 2015, the Company completed the sale of its interest in the DMC Partnership, as described above.
[2]	As of December 31, 2015 and 2014, the Company's share of partners' capital determined under HLBV was approximately $71.4 million and $119.6 million, respectively, and the total difference between the carrying amount of the investment and the Company's share of partners' capital determined under HLBV was approximately $2.0 million and $7.5 million, respectively.

Summarized Balance Sheet Data72

Summarized Balance Sheet Data of Unconsolidated Entities (Parenthetical) (Detail) - HLBV - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Schedule of Unconsolidated Entities [Line Items]
Share of partners capital	$ 71.4	$ 119.6
Difference between carrying amount of the investment and partners capital	$ 2	$ 7.5

Mortgages and Other Notes Rec73

Mortgages and Other Notes Receivable (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan Principal Balance		$ 20,015
Accrued interest		864
Acquisition fees, net		46
Loan loss provision		(1,564)
Loan Principal Balance, total carrying amount	$ 0	19,361
CMR Properties, LLC and CM Resort, LLC (one ski property)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Date of Loan Agreement(s)	Jun. 15, 2010
Loan receivable, maturity date	Sep. 30, 2022
Loan Principal Balance		16,620
CMR Properties, LLC and CM Resort, LLC (one ski property) | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	9.00%
CMR Properties, LLC and CM Resort, LLC (one ski property) | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	11.00%
Grand Prix Tampa, LLC (one attractions property)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Date of Loan Agreement(s)	Jul. 31, 2011
Loan receivable, maturity date	Jul. 31, 2016
Interest Rate	8.50%
Loan Principal Balance		$ 3,395

Mortgages and Other Notes Rec74

Mortgages and Other Notes Receivable, net - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan loss provision		$ 1,564
Principal payments received on mortgage loans receivable	$ 9,828	83,468	$ 4,282
Loan provisions	9,319	3,270	$ 3,104
Estimated fair market value of company's mortgages and other notes receivable		$ 16,600
Mortgage and Other Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan loss provision	$ 9,300

Schedule of Mortgages and Other

Schedule of Mortgages and Other Notes Payable (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Mortgage debt		$ 185,739		$ 397,849
Senior notes			$ 318,250
Mortgage debt, Gross		185,792		867,163
Mortgage debt, Premium (Discount)		(53)		187
Mortgage debt, net		185,739		867,350
Variable Rate Debt
Debt Instrument [Line Items]
Mortgage debt		64,040		217,810
Total fixed rate debt		121,752		649,353
Variable Rate Debt | Mortgage Debt One
Debt Instrument [Line Items]
Mortgage debt		$ 8,037		8,402
Mortgage debt, Maturity Date		Sep. 1, 2019
Mortgage Debt, interest rate terms	[1],[2]	30-day LIBOR + 3.3%
Mortgage Debt, interest rate basis point above reference rate	[1],[2]	3.30%
Collateral		1 ski and mountain lifestyle property
Approximate Carrying Value of Collateral		$ 18,300
Variable Rate Debt | Mortgage Debt Two
Debt Instrument [Line Items]
Mortgage debt				14,550
Mortgage Debt, interest rate terms	[1],[2]	30-day LIBOR + 4.5%
Mortgage Debt, interest rate basis point above reference rate	[1],[2]	4.50%
Collateral		1 ski and mountain lifestyle property
Variable Rate Debt | Mortgage Debt Three
Debt Instrument [Line Items]
Mortgage debt		$ 18,156		20,781
Mortgage debt, Maturity Date	[3]	Nov. 30, 2017
Mortgage Debt, interest rate terms	[1]	30-day LIBOR + 3.0%
Mortgage Debt, interest rate basis point above reference rate	[1]	3.00%
Collateral		1 attractions property
Approximate Carrying Value of Collateral		$ 44,600
Variable Rate Debt | Mortgage Debt Four
Debt Instrument [Line Items]
Mortgage debt				30,000
Mortgage Debt, interest rate terms	[1]	30-day LIBOR + 3.5%
Mortgage Debt, interest rate basis point above reference rate	[1]	3.50%
Collateral		5 senior housing properties
Variable Rate Debt | Mortgage Debt Five
Debt Instrument [Line Items]
Mortgage debt				105,000
Mortgage Debt, interest rate terms	[1]	30-day LIBOR + 2.5%
Mortgage Debt, interest rate basis point above reference rate	[1]	2.50%
Collateral		8 senior housing properties
Variable Rate Debt | Mortgage Debt Six
Debt Instrument [Line Items]
Mortgage debt		$ 37,847		39,077
Mortgage debt, Maturity Date		Apr. 5, 2017
Mortgage Debt, interest rate terms	[1]	30-day LIBOR + 1.5%-3.5%
Collateral		4 ski and mountain lifestyle property
Approximate Carrying Value of Collateral		$ 145,400
Variable Rate Debt | Mortgage Debt Six | Minimum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		1.50%
Variable Rate Debt | Mortgage Debt Six | Maximum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		3.50%
Variable Rate Debt | Mortgage Debt Seven
Debt Instrument [Line Items]
Mortgage debt				57,711
Collateral		8 senior housing properties
Variable Rate Debt | Mortgage Debt Seven | Minimum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		4.35%
Variable Rate Debt | Mortgage Debt Seven | Maximum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		4.50%
Variable Rate Debt | Mortgage Debt Eight
Debt Instrument [Line Items]
Mortgage debt		$ 18,552		18,939
Mortgage debt, Maturity Date		Sep. 28, 2016
Mortgage Debt, interest rate basis point above reference rate		6.80%
Collateral		1 attractions lifestyle property
Approximate Carrying Value of Collateral		$ 29,000
Variable Rate Debt | Mortgage Debt Nine
Debt Instrument [Line Items]
Mortgage debt		$ 90,799		95,908
Mortgage debt, Maturity Date		Apr. 5, 2017
Mortgage Debt, interest rate basis point above reference rate		6.10%
Collateral		6 ski and mountain lifestyle properties
Approximate Carrying Value of Collateral		$ 194,300
Variable Rate Debt | Mortgage Debt Ten
Debt Instrument [Line Items]
Mortgage debt		$ 10,696		11,358
Collateral		3 marina properties
Approximate Carrying Value of Collateral		$ 23,100
Variable Rate Debt | Mortgage Debt Ten | Minimum
Debt Instrument [Line Items]
Mortgage debt, Maturity Date		Sep. 1, 2016
Mortgage Debt, interest rate basis point above reference rate		6.30%
Variable Rate Debt | Mortgage Debt Ten | Maximum
Debt Instrument [Line Items]
Mortgage debt, Maturity Date		Dec. 1, 2016
Mortgage Debt, interest rate basis point above reference rate		6.50%
Variable Rate Debt | Mortgage Debt Eleven
Debt Instrument [Line Items]
Mortgage debt				16,368
Mortgage Debt, interest rate basis point above reference rate		4.40%
Collateral		3 senior housing properties
Variable Rate Debt | Mortgage Debt Twelve
Debt Instrument [Line Items]
Mortgage debt				42,859
Mortgage Debt, interest rate basis point above reference rate		6.00%
Collateral		1 attraction property
Variable Rate Debt | Mortgage Debt Thirteen
Debt Instrument [Line Items]
Mortgage debt				46,165
Mortgage Debt, interest rate basis point above reference rate		3.79%
Collateral		4 senior housing properties
Variable Rate Debt | Mortgage Debt Fourteen
Debt Instrument [Line Items]
Mortgage debt				7,395
Collateral		1 attractions property
Variable Rate Debt | Mortgage Debt Fourteen | Minimum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		6.10%
Variable Rate Debt | Mortgage Debt Fourteen | Maximum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		6.40%
Variable Rate Debt | Mortgage Debt Fifteen
Debt Instrument [Line Items]
Mortgage debt				32,411
Collateral		3 senior housing properties
Variable Rate Debt | Mortgage Debt Fifteen | Minimum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		4.75%
Variable Rate Debt | Mortgage Debt Fifteen | Maximum
Debt Instrument [Line Items]
Mortgage Debt, interest rate basis point above reference rate		6.90%
Variable Rate Debt | Other Debt
Debt Instrument [Line Items]
Other debt		$ 1,705		1,989
Mortgage debt, Maturity Date		Dec. 1, 2020
Collateral		-
Variable Rate Debt | Senior Unsecured Notes
Debt Instrument [Line Items]
Senior notes				$ 318,250
Mortgage Debt, interest rate basis point above reference rate		7.30%
[1]	The 30-day LIBOR rate was approximately 0.43% and 0.17% as of December 31, 2015 and 2014, respectively.
[2]	The Company entered into interest rate swaps for these variable rate debts. See Note 11. "Derivative instruments and Hedging Activities" for additional information.
[3]	This loan was amended in November 2015 to extend the maturity date to November 30, 2017. All other terms remained the same.

Schedule of Mortgages and Oth76

Schedule of Mortgages and Other Notes Payable (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Senior notes issued		$ 318,250
LIBOR
Debt Instrument [Line Items]
Interest Rate	0.43%		0.17%
Non Interest Bearing
Debt Instrument [Line Items]
Other debt	$ 1,705
Senior Secured Notes
Debt Instrument [Line Items]
Senior notes issued		$ 400,000

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Senior unsecured notes outstanding	$ 318,250,000
Debt instrument, premium rate	103.625%
Loss on extinguishment of debt		$ (21,065,000)	$ (1,391,000)
Revolving line of credit borrowing capacity			160,000,000
Principal payments on line of credit		152,500,000	130,000,000	$ 145,000,000
Line of credit outstanding			152,500,000
Other Liabilities
Debt Instrument [Line Items]
Capital lease obligations		4,000,000	5,000,000
Carrying (Reported) Amount, Fair Value Disclosure
Debt Instrument [Line Items]
Estimated fair values of mortgages and other notes payable and line of credit		$ 185,400,000	707,300,000
Estimated fair values of Senior notes			$ 325,400,000
Minimum | LIBOR
Debt Instrument [Line Items]
Line of credit, margin added over variable interest rate		3.00%
Minimum | Base Rate
Debt Instrument [Line Items]
Line of credit, margin added over variable interest rate		2.00%
Maximum | LIBOR
Debt Instrument [Line Items]
Line of credit, margin added over variable interest rate		3.75%
Maximum | Base Rate
Debt Instrument [Line Items]
Line of credit, margin added over variable interest rate		2.75%
Senior Unsecured Notes
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ (18,800,000)

Schedule of Future Principal Pa

Schedule of Future Principal Payments and Maturities for indebtedness (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
2,016	$ 38,921
2,017	137,929
2,018	438
2,019	6,799
2,020	1,705
Thereafter	0
Total	$ 185,792

Derivative Instruments and He79

Derivative Instruments and Hedging Activities - Additional Information (Detail) - Interest Rate Swap $ in Millions	Dec. 31, 2015USD ($)Derivative
Derivative [Line Items]
Number of interest rate swaps Suspended	1
Number of interest rate swaps	1
Terminated Interest Rate Contracts
Derivative [Line Items]
Notional amount of Cash Flow Hedges | $	$ 14.2

Summary of Terms and Fair Value

Summary of Terms and Fair Values of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Net Amount		$ (618)	$ (1,002)
Interest Rate Swap | Derivative Instrument 1 | Cash Flow Hedges
Derivative [Line Items]
Notional amount of Cash Flow Hedges		$ 8,037	8,402
Strike	[1]	3.60%
Spread	[1]	3.30%
Trade Date		Sep. 28, 2019
Maturity Date		Sep. 1, 2019
Net Amount		$ (618)	(719)
Interest Rate Swap | Derivative Instrument 2 | Cash Flow Hedges
Derivative [Line Items]
Notional amount of Cash Flow Hedges		$ 14,175	14,550
Strike	[1]	2.20%
Spread	[1]	4.50%
Trade Date		Jan. 13, 2011
Maturity Date		Dec. 31, 2015
Net Amount			$ (283)
[1]	The strike rate does not include the credit spread on each of the notional amounts.

Summary of Gross and Net Amount

Summary of Gross and Net Amounts of Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Net Amount	$ (618)	$ (1,002)
Interest Rate Swap | Derivative Instrument Six | Cash Flow Hedges
Derivative [Line Items]
Notional amount of Cash Flow Hedges	8,037
Gross Amounts of Recognized Liabilities	(618)
Gross Amounts Offset in the Balance Sheets	0
Net Amounts of Liabilities Presented in the Balance Sheets	(618)
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments	(618)
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral	0
Net Amount	(618)
Interest Rate Swap | Derivative Instrument 1 | Cash Flow Hedges
Derivative [Line Items]
Notional amount of Cash Flow Hedges	8,037	8,402
Gross Amounts of Recognized Liabilities		(719)
Gross Amounts Offset in the Balance Sheets		0
Net Amounts of Liabilities Presented in the Balance Sheets		(719)
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments		(719)
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral		0
Net Amount	(618)	(719)
Interest Rate Swap | Derivative Instrument 2 | Cash Flow Hedges
Derivative [Line Items]
Notional amount of Cash Flow Hedges	$ 14,175	14,550
Gross Amounts of Recognized Liabilities		(283)
Gross Amounts Offset in the Balance Sheets		0
Net Amounts of Liabilities Presented in the Balance Sheets		(283)
Gross Amounts Not Offset in the Balance Sheet, Financial Instruments		(283)
Gross Amounts Not Offset in the Balance Sheet, Cash Collateral		0
Net Amount		$ (283)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - Property	Dec. 31, 2015	Dec. 31, 2014
Fair Value Measurements Disclosure [Line Items]
Number of real estate properties	49
Number of investment properties Held for Sale	6	61
Level 3
Fair Value Measurements Disclosure [Line Items]
Number of real estate properties	14
Number of investment properties Held for Sale	6	19

Financial Assets and Liabilitie

Financial Assets and Liabilities Carried at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets:
Real estate investment properties, net	$ 184,061
Assets held for sale	40,588	$ 122,126
Assets, Fair Value Disclosure, Total	224,649
Liabilities:
Derivative instruments	618	1,002
Level 2
Liabilities:
Derivative instruments	618	1,002
Level 3
Assets:
Real estate investment properties, net	184,061
Assets held for sale	40,588	$ 122,126
Assets, Fair Value Disclosure, Total	$ 224,649

Components of Deferred Taxes (D

Components of Deferred Taxes (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred Income Tax Asset [Line Items]
Net operating losses	$ 107,655	$ 107,494
Book/tax differences in deferred income	5,302	4,175
Book/tax differences in acquired assets	(36,732)	(53,428)
Total deferred tax asset	76,225	58,241
Valuation allowance	(76,225)	(58,241)
Total deferred tax asset, net	$ 0	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax [Line Items]
Net operating loss carry-forwards	$ 269	$ 262.2
Operating loss carry-forwards expire year	2,025
Operating loss carry-forwards expire year	2,035

Related Party Arrangements - Ad

Related Party Arrangements - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Apr. 30, 2013	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Deposits at bank		$ 0	$ 15,200,000
Affiliated Entity
Related Party Transaction [Line Items]
Commission paid on sale of property	$ 200,000
Monthly
Related Party Transaction [Line Items]
Asset management fee as a percentage of real estate asset value		0.075%
Annually
Related Party Transaction [Line Items]
Asset management fee as a percentage of real estate asset value		0.90%

Adviser and Former Adviser Earn

Adviser and Former Adviser Earned Fees and Incurred Reimbursable Expenses (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Acquisition fees:
Acquisition fees from offering proceeds	[1]		$ 319	$ 1,286
Acquisition fees from debt proceeds	[2]		1,521	3,273
Total			1,840	4,559
Asset management fees	[3]	$ 19,726	29,863	34,683
Reimbursable expenses:
Acquisition costs	[4]		248	299
Operating expenses	[5]	5,451	6,680	7,092
Total		5,451	6,928	7,391
Total fees earned and reimbursable expenses		$ 25,177	$ 38,631	$ 46,633
[1]	Prior to April 1, 2014, acquisition fees were paid for services in connection with the selection, purchase, development or construction of real property. The fees were generally equal to 3.0% of gross offering proceeds from the sale of the Company's common stock including proceeds from shares sold under its distribution reinvestment plan ("DRP"). Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as acquisition fees and costs in the accompanying consolidated statements of operations.
[2]	Prior to April 1, 2014, acquisition fees from debt proceeds were paid for services in connection with the incurrence of indebtedness, including the Company's pro-rata share of joint venture indebtedness. The fees were generally equal to 3.0% of loan proceeds. Effective April 1, 2014, the Advisor eliminated this fee. These amounts are recorded as loan costs and are included as part of other assets in the accompanying consolidated balance sheets.
[3]	Amounts recorded as asset management fees to Advisor include fees of $4.1 million, $11.2 million and $11.6 million for the years ended December 31, 2015, 2014 and 2013, respectively, related to properties that are classified as assets held for sale that are included as discontinued operations in the accompanying consolidated statements of operations. Effective April 1, 2014, the asset management fees to Advisor were reduced as described above.
[4]	Includes approximately $0.04 million, and $0.1 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2014 and 2013, respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges. There were no such expenses recorded in acquisition costs during the year ended December 31, 2015.
[5]	Includes approximately $0.4 million, $0.4 million and $0.6 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges.

Adviser and Former Adviser Ea88

Adviser and Former Adviser Earned Fees and Incurred Reimbursable Expenses (Parenthetical) (Detail) - USD ($)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction [Line Items]
Acquisition fee as a percentage of offering proceeds		3.00%
Acquisition fee as a percentage of loan proceeds		3.00%
Asset management fees to advisor		$ 15,666,000	$ 18,651,000	$ 23,060,000
Acquisition costs	[1]		248,000	299,000
Operating expenses	[2]	$ 5,451,000	6,680,000	7,092,000
As percentage of average invested assets
Related Party Transaction [Line Items]
Maximum reimbursement of expenses, percent		2.00%
As percentage of net income
Related Party Transaction [Line Items]
Maximum reimbursement of expenses, percent		25.00%
Advisor
Related Party Transaction [Line Items]
Acquisition costs		$ 0	40,000	100,000
Operating expenses		400,000	400,000	600,000
Assets Held-for-sale
Related Party Transaction [Line Items]
Asset management fees to advisor		$ 4,100,000	$ 11,200,000	$ 11,600,000
[1]	Includes approximately $0.04 million, and $0.1 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2014 and 2013, respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges. There were no such expenses recorded in acquisition costs during the year ended December 31, 2015.
[2]	Includes approximately $0.4 million, $0.4 million and $0.6 million for reimbursable expenses to the Advisor for services provided to the Company for its executive officers during the years ended December 31, 2015, 2014 and 2013, respectively. The reimbursable expenses include components of salaries, benefits and other overhead charges.

Amounts Due to Affiliates for F

Amounts Due to Affiliates for Fees and Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Due to affiliates	$ 420	$ 489
Operating expenses
Related Party Transaction [Line Items]
Due to affiliates	$ 420	476
Acquisition fees and expenses
Related Party Transaction [Line Items]
Due to affiliates		$ 13

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) $ / shares in Units, shares in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Property$ / shares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares
Stockholders Equity Note [Line Items]
Minimum distribution as a percentage of REIT taxable income	90.00%	90.00%	90.00%
Declared and paid distributions | $	$ 487,800,000	$ 137,900,000	$ 135,500,000
Declared and paid distributions, per share | $ / shares	$ 1.5000	$ 0.4252	$ 0.4252
Amounts distributed to stockholders | $	$ 0	$ 0	$ 0
Senior Housing Properties
Stockholders Equity Note [Line Items]
Number of properties sold | Property	38
Marinas Property
Stockholders Equity Note [Line Items]
Number of properties sold | Property	12
Attractions Properties
Stockholders Equity Note [Line Items]
Number of properties sold | Property	4
Ski and Mountain Lifestyle Properties
Stockholders Equity Note [Line Items]
Number of properties sold | Property	1
Special cash distribution
Stockholders Equity Note [Line Items]
Declared and paid distributions | $	$ 422,700,000
Declared and paid distributions, per share | $ / shares	$ 1.30
Reinvestment Plan
Stockholders Equity Note [Line Items]
Offering proceeds | $	$ 0	$ 27,200,000	$ 54,900,000
Shares subscribed, shares | shares		4	7.9

Tax Composition of Distribution

Tax Composition of Distributions Declared (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Dividends Payable [Line Items]
Taxable as ordinary income	28.00%	0.00%	0.00%
Taxable as capital gain	18.30%	0.00%	29.30%
Return of capital	53.70%	100.00%	70.70%

Schedule of Pending Redemption

Schedule of Pending Redemption Request (Detail) - $ / shares shares in Thousands		3 Months Ended				12 Months Ended
		Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2015
Stockholders Equity Note [Line Items]
Requests in queue		11,572	10,809	10,798	10,547	10,547
Redemptions requested			1,355	864	778	2,997
Shares redeemed:
Prior period requests			(60)	(80)	(135)	(275)
Current period request			(439)	(369)	(300)	(1,108)
Adjustments	[1]		(93)	(404)	(92)	(589)
Pending redemption requests	[2]	11,572	11,572	10,809	10,798	11,572
Average price paid per share			$ 6.81	$ 6.85	$ 6.85	$ 6.84
[1]	This amount represents redemption request cancellations and other adjustments.
[2]	Requests that were not fulfilled in whole during a particular quarter were redeemed on a pro rata basis to the extent funds were made available pursuant to the redemption plan. The redemption plan was suspended in September 2014.

Concentrations of Risk - Additi

Concentrations of Risk - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)Tenant	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Concentration Risk [Line Items]
Property operating revenues	$ 211,104	$ 236,860	$ 233,956
Ski and Mountain Lifestyle Properties
Concentration Risk [Line Items]
Property operating revenues	$ 39,900
Ski and Mountain Lifestyle Properties | Customer Concentration Risk
Concentration Risk [Line Items]
Number of tenants | Tenant	1

Schedule of Future Obligations

Schedule of Future Obligations under Ground Leases and Land Permits (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Operating Leases Future Minimum Payments Due [Line Items]
2,016	$ 12,733
2,017	12,733
2,018	12,718
2,019	12,626
2,020	12,626
Thereafter	171,651
Total	$ 235,087

Quarterly Financial Data (Detai

Quarterly Financial Data (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Data [Line Items]
Total revenues		$ 52,414	$ 127,600	$ 85,659	$ 71,992	$ 61,707	$ 144,551	$ 94,657	$ 72,380	$ 337,665	$ 373,295	$ 362,490
Operating income (loss)		(130,921)	36,026	(7,689)	(7,107)	(52,308)	43,389	726	(2,185)	(109,691)	(10,378)	(25,960)
Equity in earnings (loss) of unconsolidated entities		2,213	1,162	(783)	3,561	804	3,176	(526)	4,299	6,153	7,753	11,701
Income (loss) from continuing operations		(130,842)	34,295	(38,208)	(14,607)	(63,571)	30,086	(15,071)	(11,882)	(149,362)	(60,438)	(66,816)
Discontinued operations	[1]	(9,715)	7,614	199,720	7,052	(30,338)	537	6,566	(8,471)	204,671	(31,706)
Gain (loss) on sale of real estate		20,321	(1,064)	27,337						46,594
Gain from sale of unconsolidated entity				39,252						39,252		55,394
Net income (loss)		$ (120,236)	$ 40,845	$ 228,101	$ (7,555)	$ (93,909)	$ 30,623	$ (8,505)	$ (20,353)	$ 141,155	$ (92,144)	$ (252,539)
Weighted average number of shares outstanding (basic and diluted)		325,183	325,183	325,183	325,183	325,214	325,707	324,197	322,639	325,183	324,451
Earnings (loss) per share of common stock (basic and diluted)		$ (0.38)	$ 0.13	$ 0.70	$ (0.02)	$ (0.29)	$ 0.09	$ (0.03)	$ (0.06)	$ 0.43	$ (0.28)	$ (0.79)
[1]	The Company classified certain properties as assets held for sale and reclassified the results related to those properties to discontinued operations for all periods presented.

Supplemental Guarantor Informat

Supplemental Guarantor Information - Additional Information (Detail) $ in Thousands	1 Months Ended
	Jun. 30, 2015USD ($)
Supplemental Guarantor Information [Line Items]
Senior unsecured notes outstanding	$ 318,250
Debt instrument, premium rate	103.625%

Schedule II-Valuation and Qua97

Schedule II-Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ 59,805	$ 55,502	$ 50,157
Charged to Costs and Expenses	17,855	3,270	3,104
Charged to Other Accounts	21,450	7,257	2,241
Deemed Uncollectible	(10,353)	(6,224)
Collected/ Recovered	0	0	0
Balance at End of Year	88,757	59,805	55,502
Deferred tax asset valuation allowance
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	58,241	50,699	48,458
Charged to Other Accounts	17,984	7,542	2,241
Collected/ Recovered	0	0	0
Balance at End of Year	76,225	58,241	50,699
Allowance for loan losses
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	1,564	4,803	1,699
Charged to Costs and Expenses	9,319	3,270	3,104
Charged to Other Accounts	(530)	(285)
Deemed Uncollectible	(10,353)	(6,224)
Collected/ Recovered	0	0	0
Balance at End of Year		$ 1,564	$ 4,803
Allowance for Doubtful Accounts
Valuation and Qualifying Accounts Disclosure [Line Items]
Charged to Costs and Expenses	8,536
Charged to Other Accounts	3,996
Collected/ Recovered	0
Balance at End of Year	$ 12,532

Schedule III-Real Estate and 98

Schedule III-Real Estate and Accumulated Depreciation (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 364,661
Improvements	[1]	99,558
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	369,902
Total		786,244	[1],[2],[3]	$ 1,138,108	$ 2,142,067	$ 2,216,709
Accumulated Depreciation		$ (255,883)	[1]	$ (279,541)	$ (415,216)	$ (355,891)
Life on which depreciation in latest income statements is computed		39 years
Gatlinburg Sky Lift Gatlinburg, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Improvements	[1]	$ 32
Carrying Costs	[1]	0
Total	[1],[2],[3]	19,361
Accumulated Depreciation	[1]	$ (4,060)
Date of Construction	[1]	1,953
Date Acquired	[1]	Dec. 22, 2005
Life on which depreciation in latest income statements is computed	[1],[4]
Hawaiian Falls Waterparks Garland And The Colony, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 3,123
Improvements	[1]	2,111
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	5,024
Total	[1],[2],[3]	9,655
Accumulated Depreciation	[1]	$ (4,403)
Date of Construction	[1]	2,004
Date Acquired	[1]	Apr. 21, 2006
Life on which depreciation in latest income statements is computed	[1],[4]
Cypress Mountain Vancouver, British Columbia
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 161
Improvements	[1]	4,713
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	993
Total	[1],[2],[3]	24,610
Accumulated Depreciation	[1]	$ (8,160)
Date of Construction	[1]	1,975
Date Acquired	[1]	May 30, 2006
Life on which depreciation in latest income statements is computed	[1],[4]
Funtasticks Fun Center Tucson, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 3,038
Improvements	[1]	1,870
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	2,389
Total	[1],[2],[3]	3,497
Accumulated Depreciation	[1]	$ (1,296)
Date of Construction	[1]	1,993
Date Acquired	[1]	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	[1],[4]
Camelot Park Bakersfield, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 179
Improvements	[1]	807
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	178
Total	[1],[2],[3]	250
Accumulated Depreciation	[1]	$ (251)
Date of Construction	[1]	1,994
Date Acquired	[1]	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	[1],[4]
Zuma Fun Center Charlotte, North Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 3,646
Improvements	[1]	2,590
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	2,245
Total	[1],[2],[3]	2,963
Accumulated Depreciation	[1]	$ (1,223)
Date of Construction	[1]	1,991
Date Acquired	[1]	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	[1],[4]
Mountasia Family Fun Center North Richland Hills, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 1,152
Improvements	[1]	83
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	821
Total	[1],[2],[3]	1,245
Accumulated Depreciation	[1]	$ (443)
Date of Construction	[1]	1,994
Date Acquired	[1]	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	[1],[4]
Zuma Fun Center South Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 1,551
Improvements	[1]	2,865
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	961
Total	[1],[2],[3]	1,365
Accumulated Depreciation	[1]	$ (632)
Date of Construction	[1]	1,990
Date Acquired	[1]	Oct. 6, 2006
Life on which depreciation in latest income statements is computed	[1],[4]
Brighton Ski Resort Brighton, Utah
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 11,809
Improvements	[1]	3,010
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	12,824
Total	[1],[2],[3]	28,175
Accumulated Depreciation	[1]	$ (9,815)
Date of Construction	[1]	1,949
Date Acquired	[1]	Jan. 8, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Northstar At Tahoe Resort Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 60,790
Improvements	[1]	11,441
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	64,931
Total	[1],[2],[3]	80,765
Accumulated Depreciation	[1]	$ (24,542)
Date of Construction	[1]	1,972
Date Acquired	[1]	Jan. 19, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Sierra At Tahoe Resort South Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 19,875
Improvements	[1]	3,242
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	22,214
Total	[1],[2],[3]	32,491
Accumulated Depreciation	[1]	$ (14,373)
Date of Construction	[1]	1,968
Date Acquired	[1]	Jan. 19, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Loon Mountain Resort Lincoln, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 9,226
Improvements	[1]	7,297
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	15,124
Total	[1],[2],[3]	21,542
Accumulated Depreciation	[1]	$ (8,434)
Date of Construction	[1]	1,966
Date Acquired	[1]	Jan. 19, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Summit-at-Snoqualmie Resort Snoqualmie Pass, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumberances	[1],[5]
Land & Land Improvement	[1]	$ 20,122
Improvements	[1]	4,419
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	22,259
Total	[1],[2],[3]	34,135
Accumulated Depreciation	[1]	$ (12,627)
Date of Construction	[1]	1,945
Date Acquired	[1]	Jan. 19, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
White Water Bay Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 10,720
Improvements	[1]	683
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	10,729
Total	[1],[2],[3]	16,864
Accumulated Depreciation	[1]	$ (4,237)
Date of Construction	[1]	1,981
Date Acquired	[1]	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Splashtown Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 10,817
Improvements	[1]	8,594
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	15,939
Total	[1],[2],[3]	21,021
Accumulated Depreciation	[1]	$ (2,268)
Date of Construction	[1]	1,981
Date Acquired	[1]	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Waterworld Concord California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 1,733
Improvements	[1]	563
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	2,105
Total	[1],[2],[3]	10,868
Accumulated Depreciation	[1]	$ (4,819)
Date of Construction	[1]	1,995
Date Acquired	[1]	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Darien Lake Buffalo, New York
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 60,993
Improvements	[1]	3,142
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	48,752
Total	[1],[2],[3]	62,964
Accumulated Depreciation	[1]	$ (36,503)
Date of Construction	[1]	1,955
Date Acquired	[1]	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Frontier City Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 7,265
Improvements	[1]	1,962
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	6,592
Total	[1],[2],[3]	13,193
Accumulated Depreciation	[1]	$ (4,728)
Date of Construction	[1]	1,958
Date Acquired	[1]	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Wild Waves And Enchanted Village Seattle, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 19,200
Improvements	[1]	5,269
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	12,448
Total	[1],[2],[3]	13,339
Accumulated Depreciation	[1]	$ (12,365)
Date of Construction	[1]	1,977
Date Acquired	[1]	Apr. 6, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Magic Springs And Crystal Falls Hot Springs, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 4,237
Improvements	[1]	5,139
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	4,238
Total	[1],[2],[3]	9,541
Accumulated Depreciation	[1]	$ (4,364)
Date of Construction	[1]	1,977
Date Acquired	[1]	Apr. 16, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Mountain High Resort Wrightwood, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 14,272
Improvements	[1]	971
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	12,494
Total	[1],[2],[3]	28,706
Accumulated Depreciation	[1]	$ (13,143)
Date of Construction	[1]	In 1930's
Date Acquired	[1]	Jun. 29, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Sugarloaf Mountain Resort Carrabassett Valley, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 15,408
Improvements	[1]	3,637
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	14,720
Total	[1],[2],[3]	24,703
Accumulated Depreciation	[1]	$ (7,928)
Date of Construction	[1]	1,962
Date Acquired	[1]	Aug. 7, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Sunday River Resort Newry, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 32,698
Improvements	[1]	5,358
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	36,498
Total	[1],[2],[3]	50,312
Accumulated Depreciation	[1]	$ (14,097)
Date of Construction	[1]	1,959
Date Acquired	[1]	Aug. 7, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
The Northstar Commercial Village Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 2,354
Improvements	[1]	4,178
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	2,759
Total	[1],[2],[3]	40,464
Accumulated Depreciation	[1]	$ (11,889)
Date of Construction	[1]	2,005
Date Acquired	[1]	Nov. 15, 2007
Life on which depreciation in latest income statements is computed	[1],[4]
Myrtle Waves Myrtle Beach South Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Improvements	[1]	$ 419
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	170
Total	[1],[2],[3]	2,572
Accumulated Depreciation	[1]	$ (538)
Date of Construction	[1]	1,985
Life on which depreciation in latest income statements is computed	[1],[4]
Mount Sunapee Mountain Resort Newbury, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumberances	[1],[5]
Improvements	[1]	$ 538
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	112
Total	[1],[2],[3]	12,518
Accumulated Depreciation	[1]	$ (4,101)
Date of Construction	[1]	1,960
Date Acquired	[1]	Dec. 5, 2008
Life on which depreciation in latest income statements is computed	[1],[4]
Okemo Mountain Resort Ludlow, Vermont
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumberances	[1],[5]
Land & Land Improvement	[1]	$ 17,566
Improvements	[1]	1,297
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	18,265
Total	[1],[2],[3]	60,633
Accumulated Depreciation	[1]	$ (13,329)
Date of Construction	[1]	1,963
Date Acquired	[1]	Dec. 5, 2008
Life on which depreciation in latest income statements is computed	[1],[4]
Crested Butte Mountain Resort Mt Crested Butte, Colorado
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumberances	[1],[5]
Land & Land Improvement	[1]	$ 1,305
Improvements	[1]	2,341
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	1,314
Total	[1],[2],[3]	33,677
Accumulated Depreciation	[1]	$ (10,278)
Date of Construction	[1]	In 1960's
Date Acquired	[1]	Dec. 5, 2008
Life on which depreciation in latest income statements is computed	[1],[4]
Jiminy Peak Mountain Resort Hancock, Massachusetts
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumberances	[1],[5]
Land & Land Improvement	[1]	$ 7,802
Improvements	[1]	818
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	8,345
Total	[1],[2],[3]	16,784
Accumulated Depreciation	[1]	$ (4,132)
Date of Construction	[1]	1,948
Date Acquired	[1]	Jan. 27, 2009
Life on which depreciation in latest income statements is computed	[1],[4]
Hawaiian Waters Kapolei, Hawaii
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Improvements	[1]	$ 765
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	391
Total	[1],[2],[3]	14,632
Accumulated Depreciation	[1]	$ (3,285)
Date of Construction	[1]	1,998
Date Acquired	[1]	May 6, 2009
Life on which depreciation in latest income statements is computed	[1],[4]
Pacific Park Santa Monica, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumberances	[1],[5]
Improvements	[1]	$ 867
Carrying Costs	[1]	0
Total	[1],[2],[3]	27,488
Accumulated Depreciation	[1]	$ (4,489)
Date of Construction	[1]	1,996
Date Acquired	[1]	Dec. 29, 2010
Life on which depreciation in latest income statements is computed	[1],[4]
Stevens Pass Skykomish, King And Chelan County, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 62
Improvements	[1]	1,523
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	808
Total	[1],[2],[3]	19,949
Accumulated Depreciation	[1]	$ (3,244)
Date of Construction	[1]	1945-2000
Date Acquired	[1]	Nov. 17, 2011
Life on which depreciation in latest income statements is computed	[1],[4]
Rapids Waterpark West Palm Beach, Florida
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumberances	[1],[5]
Land & Land Improvement	[1]	$ 11,041
Improvements	[1]	6,688
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	16,647
Total	[1],[2],[3]	26,052
Accumulated Depreciation	[1]	$ (2,820)
Date of Construction	[1]	1979 and 2007
Date Acquired	[1]	Jun. 29, 2012
Life on which depreciation in latest income statements is computed	[1],[4]
Soak City Palm Springs, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Land & Land Improvement	[1]	$ 12,516
Improvements	[1]	1
Carrying Costs	[1]	0
Land & Land Improvements	[1],[2],[3]	6,613
Total	[1],[2],[3]	8,248
Accumulated Depreciation	[1]	$ (1,596)
Date of Construction	[1]	2,001
Date Acquired	[1]	Aug. 12, 2013
Life on which depreciation in latest income statements is computed	[1],[4]
Phoenix Wet n Wild Waterpark Phoenix, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Improvements	[1]	$ 325
Carrying Costs	[1]	0
Total	[1],[2],[3]	11,662
Accumulated Depreciation	[1]	$ (1,471)
Date of Construction	[1]	2,009
Date Acquired	[1]	Nov. 26, 2013
Life on which depreciation in latest income statements is computed	[1],[4]
Leaseholds and Leasehold Improvements
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	$ 178,650
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	170,970
Leaseholds and Leasehold Improvements | Gatlinburg Sky Lift Gatlinburg, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	19,154
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	19,186
Leaseholds and Leasehold Improvements | Hawaiian Falls Waterparks Garland And The Colony, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	3,663
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	3,812
Leaseholds and Leasehold Improvements | Cypress Mountain Vancouver, British Columbia
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	19,001
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	13,437
Leaseholds and Leasehold Improvements | Brighton Ski Resort Brighton, Utah
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	2,123
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	2,123
Leaseholds and Leasehold Improvements | Sierra At Tahoe Resort South Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	800
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	800
Leaseholds and Leasehold Improvements | Loon Mountain Resort Lincoln, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	346
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	347
Leaseholds and Leasehold Improvements | Summit-at-Snoqualmie Resort Snoqualmie Pass, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	792
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	792
Leaseholds and Leasehold Improvements | Waterworld Concord California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	7,841
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	7,841
Leaseholds and Leasehold Improvements | Magic Springs And Crystal Falls Hot Springs, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	8
Leaseholds and Leasehold Improvements | Mountain High Resort Wrightwood, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	14,022
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	10,268
Leaseholds and Leasehold Improvements | Sugarloaf Mountain Resort Carrabassett Valley, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	2,000
Leaseholds and Leasehold Improvements | Mount Sunapee Mountain Resort Newbury, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	6,727
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	6,909
Leaseholds and Leasehold Improvements | Okemo Mountain Resort Ludlow, Vermont
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	25,086
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	25,144
Leaseholds and Leasehold Improvements | Crested Butte Mountain Resort Mt Crested Butte, Colorado
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	18,843
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	19,798
Leaseholds and Leasehold Improvements | Hawaiian Waters Kapolei, Hawaii
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	13,399
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	11,163
Leaseholds and Leasehold Improvements | Pacific Park Santa Monica, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	25,046
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	25,252
Leaseholds and Leasehold Improvements | Stevens Pass Skykomish, King And Chelan County, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	13,084
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	14,524
Leaseholds and Leasehold Improvements | Phoenix Wet n Wild Waterpark Phoenix, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	8,715
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	7,574
Buildings
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	231,706
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	245,372
Buildings | Gatlinburg Sky Lift Gatlinburg, Tennessee
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	175
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	175
Buildings | Hawaiian Falls Waterparks Garland And The Colony, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	758
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	819
Buildings | Cypress Mountain Vancouver, British Columbia
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	735
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	10,180
Buildings | Funtasticks Fun Center Tucson, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	1,413
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	1,108
Buildings | Camelot Park Bakersfield, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	70
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	72
Buildings | Zuma Fun Center Charlotte, North Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	1,072
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	718
Buildings | Mountasia Family Fun Center North Richland Hills, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	635
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	424
Buildings | Zuma Fun Center South Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	558
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	404
Buildings | Brighton Ski Resort Brighton, Utah
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	11,233
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	13,228
Buildings | Northstar At Tahoe Resort Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	8,534
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	15,834
Buildings | Sierra At Tahoe Resort South Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	8,574
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	9,477
Buildings | Loon Mountain Resort Lincoln, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	4,673
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	6,071
Buildings | Summit-at-Snoqualmie Resort Snoqualmie Pass, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	8,802
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	11,084
Buildings | White Water Bay Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	5,461
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	6,135
Buildings | Splashtown Houston, Texas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	1,609
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	5,082
Buildings | Waterworld Concord California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	728
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	922
Buildings | Darien Lake Buffalo, New York
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	21,967
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	14,212
Buildings | Frontier City Oklahoma City, Oklahoma
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	7,518
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	6,601
Buildings | Wild Waves And Enchanted Village Seattle, Washington
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	2,837
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	891
Buildings | Magic Springs And Crystal Falls Hot Springs, Arkansas
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	10,409
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	5,303
Buildings | Mountain High Resort Wrightwood, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	7,571
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	5,944
Buildings | Sugarloaf Mountain Resort Carrabassett Valley, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	5,658
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	7,983
Buildings | Sunday River Resort Newry, Maine
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	12,256
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	13,814
Buildings | The Northstar Commercial Village Lake Tahoe, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	33,932
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	37,705
Buildings | Myrtle Waves Myrtle Beach South Carolina
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	5,875
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	2,402
Buildings | Mount Sunapee Mountain Resort Newbury, New Hampshire
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	5,253
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	5,497
Buildings | Okemo Mountain Resort Ludlow, Vermont
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	16,684
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	17,224
Buildings | Crested Butte Mountain Resort Mt Crested Butte, Colorado
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	11,188
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	12,565
Buildings | Jiminy Peak Mountain Resort Hancock, Massachusetts
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	8,164
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	8,439
Buildings | Hawaiian Waters Kapolei, Hawaii
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	3,458
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	3,078
Buildings | Pacific Park Santa Monica, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	1,575
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	2,236
Buildings | Stevens Pass Skykomish, King And Chelan County, WA
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	5,280
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	4,617
Buildings | Rapids Waterpark West Palm Beach, Florida
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	9,044
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	9,405
Buildings | Soak City Palm Springs, California
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	3,259
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	1,635
Buildings | Phoenix Wet n Wild Waterpark Phoenix, Arizona
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Costs, Buildings and Lease-hold Interests and Improvements	[1]	4,748
Gross Amounts at which Carried at Close of Period, Buildings and Lease-hold Interests and Improvements	[1],[2],[3]	$ 4,088
[1]	Excludes properties classified as held for sale as of December 31, 2015.
[2]	Gross amounts are net of cumulative impairments recorded. Refer to Note 4. "Real Estate Investment Properties, net" in Item 8. "Financial Statements and Supplementary Data" for additional information.
[3]	The aggregate cost for federal income tax purposes is approximately $998.9 million.
[4]	Buildings and improvements are depreciated over 39 years. Leasehold improvements are depreciation over their estimated useful lives.
[5]	The property is encumbered at December 31, 2015.

Schedule III-Real Estate and 99

Schedule III-Real Estate and Accumulated Depreciation (Summary of Transactions in Real Estate and Accumulated Depreciation) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Real Estate gross carrying value, Beginning Balance	$ 1,138,108		$ 2,142,067	$ 2,216,709
Acquisitions			169,417	249,136
Dispositions and assets held for sale	(271,464)		(1,108,581)	(181,424)
Impairment provision	(80,400)		(64,795)	(142,354)
Real Estate gross carrying value, Ending Balance	786,244	[1],[2],[3]	1,138,108	2,142,067
Real Estate accumulated depreciation, Beginning Balance	(279,541)		(415,216)	(355,891)
Depreciation	(36,866)		(64,652)	(77,484)
Accumulated depreciation on dispositions and assets held for sale	60,524		200,327	18,159
Real Estate accumulated depreciation, Ending Balance	$ (255,883)	[1]	$ (279,541)	$ (415,216)
[1]	Excludes properties classified as held for sale as of December 31, 2015.
[2]	Gross amounts are net of cumulative impairments recorded. Refer to Note 4. "Real Estate Investment Properties, net" in Item 8. "Financial Statements and Supplementary Data" for additional information.
[3]	The aggregate cost for federal income tax purposes is approximately $998.9 million.

Schedule III-Real Estate and100

Schedule III-Real Estate and Accumulated Depreciation (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Buildings and improvements useful life	39 years
Aggregate cost for federal income tax purpose	$ 998.9

Schedule IV-Mortgage Loans o101

Schedule IV-Mortgage Loans on Real Estate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Loan Principal Balance		$ 20,015
Accrued interest		864
Acquisition fees, net		46
Loan loss provision		(1,564)
Loan Principal Balance, total carrying amount	$ 0	19,361
Loan loss provision
Mortgage Loans on Real Estate [Line Items]
Loan loss provision		(1,564)
CMR Properties, LLC and CM Resort, LLC (one ski property)
Mortgage Loans on Real Estate [Line Items]
Date of Loan Agreement(s)	Jun. 15, 2010
Maturity date	Sep. 30, 2022
Interest Rate, minimum	9.00%
Interest Rate, maximum	11.00%
Loan Principal Balance		16,620
Grand Prix Tampa, LLC (one attractions property)
Mortgage Loans on Real Estate [Line Items]
Date of Loan Agreement(s)	Jul. 31, 2011
Maturity date	Jul. 31, 2016
Interest Rate	8.50%
Loan Principal Balance		3,395
Accruing Interest
Mortgage Loans on Real Estate [Line Items]
Accrued interest		$ 864

Schedule IV-Mortgage Loans o102

Schedule IV-Mortgage Loans on Real Estate (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Loan loss provision		$ 1,564
Mortgages and other notes receivable, net	$ 0	$ 19,361
Mortgage and Other Notes Receivable
Mortgage Loans on Real Estate [Line Items]
Loan loss provision	$ 9,300

Schedule IV-Mortgage Loans o103

Schedule IV-Mortgage Loans on Real Estate (Summary of Mortgage Loans on Real Estate) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]
Balance at beginning of period	$ 19,361	$ 117,963
Principal reduction	(9,828)	(83,468)
Foreclosed and converted to real estate		(7,745)
Loan loss provision	(9,319)	(3,270)
Write off of loan loss provision		1,008
Accrued and deferred interest	317	(4,791)
Acquisition fees allocated, net	(1)	(51)
Other	$ (530)	(285)
Mortgage Loans on Real Estate		$ 19,361