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In order to pay down approximately $2 billion in debt, the amuseument park operator, Six Flags, Incorporated, sold this park and six other porperties around the U.S. to PARC Management, a Florida company, which, in turn sold them to CNL Income Properties, Incoporated, of Orlando, FL. The sale price was $312 million. CNL made a lease agreement with PARC for the latter to manage and operate the amusement parks for 52 years. Wild Waves and Enchanted Village Amusement Park of Federal Way, WA, was the only other West Coast property included in the sale.

PCAD id: 8458