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SALT LAKE CITY (AP) -- A Florida real estate investment trust bought one of Utah's oldest ski areas for $35 million.
CNL Income Properties Inc. of Orlando, Fla., bought the Brighton Resort, but reached an agreement with Boyne USA Inc. to continue running the area at the top of Big Cottonwood Canyon. CNL said it purchased the resort on Jan. 9.
CNL said it reached the deal with Boyne on Jan. 9 and filed the acquisition with the Securities and Exchange Commission on Friday. Boyne will continue to operate the resort, its two restaurants, 20-room lodge, ski-rental facility and a small retail center.
CNL also announced last week that it was buying seven theme and water parks from Six Flags Inc.
(Copyright 2007 by The Associated Press. All Rights Reserved.)
