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The amusement park operator, Six Flags, Incorporated, purchased the Wild Waves and Enchanted Village Amusement Park in 2000 for $19.3 million; Six Flags invested an additional $24.3 million in renovations from 2000-2006. In order to pay down approximately $2 billion in debt, Six Flags, sold this property and six other properties 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. Waterworld USA, in Concord, CA, was the only other West Coast property included in the sale.

PCAD id: 8457