Exhibit 99.1
TABLE VI
(UNAUDITED)
ACQUISITIONS OF PROPERTIES BY PROGRAM
Table VI presents information concerning the acquisition of real properties by the public programs with similar investment objectives sponsored by affiliates of CNL for the period January 1, 2009 to December 31, 2011. This information is intended to assist the prospective investor in evaluating the terms involved in acquisitions by such prior programs.
Property name and location | Type of property | Gross leasable space (sq. ft.) or number of units (Note 1) | Date of purchase | Mortgage financing at date of purchase | Contract purchase price plus acquisition fee (Note 4) | Other cash expenditures expensed | Other cash expenditures capitalized | Total acquisition cost (Note 2) | ||||||||||||||||||||
CNL LIFESTYLE PROPERTIES, INC. | ||||||||||||||||||||||||||||
Jiminy Peak Mountain Resort –Hancock, Massachusetts | Ski and Mountain Lifestyle | 800 skiable acres, eight chairlifts; fee interest | 01/27/09 | $ | — | $ | 27,000,000 | $ | 281,800 | $ | — | $ | 27,281,800 | |||||||||||||||
Stevens Pass –King County, Washington | Ski and Mountain Lifestyle | 1,125, skiable acres, 10 chairlifts; fee interest and special use permit | 11/17/11 | $ | — | $ | 20,475,000 | $ | 143,000 | $ | — | $ | 20,618,000 | |||||||||||||||
Wet’nWild Hawaii –Honolulu, Hawaii | Attractions | 29-acre waterpark; leasehold interest | 05/06/09 | $ | — | $ | 25,800,000 | $ | 368,000 | $ | — | $ | 26,168,000 | |||||||||||||||
Pacific Park –Santa Monica, California | Attractions | 2-acre theme park; leasehold interest | 12/29/10 | $ | — | $ | 34,000,000 | $ | 514,000 | $ | — | $ | 34,514,000 | |||||||||||||||
Anacapa Isle Marina –Oxnard, California | Marinas | 438 wet slips; leasehold interest | 03/12/10 | $ | — | $ | 9,829,000 | $ | 286,250 | $ | — | $ | 10,115,250 | |||||||||||||||
Ballena Isle Marina –Alameda, California | Marinas | 504 wet slips; leasehold interest | 03/12/10 | $ | — | $ | 8,179,000 | $ | 286,250 | $ | — | $ | 8,465,250 | |||||||||||||||
Cabrillo Isle Marina –San Diego, California | Marinas | 438 wet slips; leasehold interest | 03/12/10 | $ | — | $ | 20,575,000 | $ | 286,250 | $ | — | $ | 20,861,250 | |||||||||||||||
Ventura Isle Marina –Ventura, California | Marinas | 579 slips; leasehold interest | 03/12/10 | $ | — | $ | 16,417,000 | $ | 286,250 | $ | — | $ | 16,703,250 | |||||||||||||||
Bohemia Vista Yacht Basin –Chesapeake City, Maryland | Marinas | 239 wet slips; fee interest | 05/20/10 | $ | — | $ | 4,970,000 | $ | 94,000 | $ | — | $ | 5,064,000 | |||||||||||||||
Hack’s Point Marina –Earleville, Maryland | Marinas | 239 wet slips; fee interest | 05/20/10 | $ | — | $ | 2,030,000 | $ | 94,000 | $ | — | $ | 2,124,000 | |||||||||||||||
Culpepper Place at Branson Meadows –Branson, Missouri | Senior Housing | 65 residential units | 08/31/11 | $ | — | $ | 9,850,000 | $ | 155,000 | $ | — | $ | 10,005,000 |
Property name and location | Type of property | Gross leasable space (sq. ft.) or number of units (Note 1) | Date of purchase | Mortgage financing at date of purchase | Contract purchase price plus acquisition fee (Note 4) | Other cash expenditures expensed | Other cash expenditures capitalized | Total acquisition cost (Note 2) | ||||||||||||||||||||||
Culpepper Place at Chesterfield Village – Springfield, Missouri | Senior Housing | | 80 residential units | | 08/31/11 | $ | — | $ | 12,200,00 | $ | 155,000 | $ | — | $ | 12,355,000 | |||||||||||||||
Culpepper Place at Nevada –Nevada, Missouri | Senior Housing | | 31 residential units | | 08/31/11 | $ | — | $ | 425,000 | $ | 155,000 | $ | — | $ | 580,000 | |||||||||||||||
Culpepper Place atSpringdale –Springdale, Arkansas | Senior Housing | | 59 residential units | | 08/31/11 | $ | — | $ | 8,850,000 | $ | 155,000 | $ | — | $ | 9,005,000 | |||||||||||||||
Culpepper Place of Springfield –Springfield, Missouri | Senior Housing | | 61 residential units | | 08/31/11 | $ | — | $ | 7,725,000 | $ | 155,000 | $ | — | $ | 7,800,000 | |||||||||||||||
Culpepper Place of Jonesboro –Jonesboro, Arkansas | Senior Housing | | 61 residential units | | 08/31/11 | $ | — | $ | 7,950,000 | $ | 155,000 | $ | — | $ | 8,105,000 | |||||||||||||||
Town Center Village –Portland, Oregon | Senior Housing | | 338 residential units | | 08/31/11 | $ | — | $ | 40,967,000 | $ | 562,000 | $ | — | $ | 41,529,000 | |||||||||||||||
Grand Victorian of Pekin –Pekin, Illinois | Senior Housing | | 61 residential units | | 12/29/11 | $ | — | $ | 9,930,000 | $ | 26,000 | $ | — | $ | 9,956,000 | |||||||||||||||
Grand Victorian of Sterling –Sterling, Illinois | Senior Housing | | 61 residential units | | 12/29/11 | $ | — | $ | 9,700,000 | $ | 26,000 | $ | — | $ | 9,726,000 | |||||||||||||||
Grand Victorian of Washington –Washington, Illinois | Senior Housing | | 61 residential units | | 12/29/11 | $ | — | $ | 11,120,000 | $ | 26,000 | $ | — | $ | 11,146,000 | |||||||||||||||
Great Wolf Lodge – Sandusky –Sandusky, Ohio | Hotels | | 271-room waterpark resort | | 08/06/09 | $ | — | $ | 43,400,000 | $ | 69,300 | $ | — | $ | 43,469,300 | |||||||||||||||
Great Wolf Lodge – Wisconsin Dells –Wisconsin Dells, Wisconsin | Hotels | | 309-room waterpark resort | | 08/06/09 | $ | — | $ | 46,900,000 | $ | 69,300 | $ | — | $ | 46,969,300 | |||||||||||||||
The Omni Mount Washington Resort –Bretton Woods, New Hampshire | Hotels | | One golf facility, resort amenities and development land | | 08/12/11 | $ | — | $ | 10,500,000 | $ | 341,000 | $ | — | $ | 10,841,000 | |||||||||||||||
Granby Development Lands –Granby, Colorado | Other | | 1,553 acres with infrastructure and improvements such as roads, water, sewer, golf course in various stages of completion | | 10/29/09 | $ | — | $ | 51,255,000 | $ | 600 | $ | — | $ | 51,255,600 | |||||||||||||||
GLOBAL GROWTH TRUST, INC. | ||||||||||||||||||||||||||||||
Long Point Property –Mount Pleasant, South Carolina | Multi- family development | (Note 3 | ) | 05/20/11 | $ | (Note 3 | ) | $
| 3,880,000 (Note 3 | ) | $ | (Note 3 | ) | $ | (Note 3 | ) | $ | 3,880,000 | ||||||||||||
Gwinnett Center –Duluth, Georgia | Multi-tenant three building office complex | 264,000 | 10/17/11 | $ | 7,000,000 | $ | 14,361,000 | $ | 172,000 | $ | — | $ | 14,533,000 | |||||||||||||||||
GLOBAL INCOME TRUST, INC. | ||||||||||||||||||||||||||||||
Austin Property –Pflugerville, Texas | Light industrial building | 51,000 | 06/08/11 | $ | 2,820,000 | $ | 4,634,000 | $ | 74,000 | $ | — | $ | 4,708,000 | |||||||||||||||||
Heritage Commons III – Fort Worth, Texas | Office building | 119,000 | 06/28/11 | $ | 12,400,000 | $ | 19,097,000 | $ | 127,000 | $ | — | $ | 19,224,000 | |||||||||||||||||
Heritage Commons IV –Fort Worth, Texas | Office building | 164,000 | 10/27/11 | $ | 24,500,000 | $ | 31,574,000 | $ | 183,000 | $ | — | $ | 31,757,000 |
FOOTNOTES:
Note 1: | The types of properties acquired and leased by CNL Lifestyle Properties, Inc. are generally operating properties and are not meaningfully described in terms of number of units or leasable square footage. Therefore, a brief description of the properties are presented to assist a prospective investor in evaluating the characteristics and magnitude of the property acquisitions. |
Note 2: | Amounts used for acquisitions were derived from offering proceeds from stockholders and, in the case of CNL Lifestyle Properties, Inc., net sales proceeds reinvested in other properties. Amounts were also advanced under each company’s line of credit or through permanent financing to facilitate the acquisition of certain of these properties. |
Note 3: | The Long Point Property is a development project of a 258 unit Class A garden style apartment community. The Long Point Joint Venture entered into a development agreement with a maximum development budget of approximately $28.6 million. Development is expected to be completed in stages between the second and fourth quarters of 2012. In connection with the development of the property, the Long Point Joint Venture obtained a construction loan with an aggregate principal amount available for construction draws under the loan of $21.4 million. No amounts were drawn at the date of acquisition. Additionally, approximately $0.1 million of acquisition expenses were capitalized related to the Long Point Property acquisition. |
Note 4: | Contract purchase price plus acquisition fees for Global Growth Trust, Inc. and Global Income Trust, Inc., includes the 1.85% investment service fee paid to their respective advisor. The investment services fee has been expensed and has been included in acquisition fees and expenses on the respective consolidated statement of operations. |