CNL Financial Group (CNL), formerly Commercial Net Lease, is an
Orlando,
Florida
Florida is a state located in the Southeastern region of the United States. Florida is bordered to the west by the Gulf of Mexico, to the northwest by Alabama, to the north by Georgia, to the east by the Bahamas and Atlantic Ocean, and ...
based private investment management and commercial real estate company. It was started in 1973 by James Seneff.
[ The company has been a major player in efforts to redevelop Orlando's downtown. The original CNA tower (the ]Citrus Center
The Citrus Center, also known as the BB&T building, originally known as the CNA Tower, is a commercial office building in Orlando, Florida, United States located at 255 South Orange Avenue. Topped out in December 1970 and completed in April 197 ...
) was downtown Orlando's first modern skyscraper when it was completed in 1971. A new CNL Tower was constructed on the east side of Orange Avenue.
The company invests in and manages commercial real estate, runs Real Estate Investment Trusts (REITs), and invests in private companies. The company's divisions include CNL Commercial Real Estate, CNL Securities Corp., CNL Growth Properties, CNL Healthcare Properties, Global Income Trust and Corporate Capital Trust.[ In 2013, ''Florida Trend'' ranked it as the state's 33rd largest private company.][Mike Bosle]
The Long View
July 2013 Florida Trend pages 58-62 It is frequently covered in the news media for its real estate transactions and has assets of approximately $25 billion.[CNL contracts to buy Mt. Vernon Inn]
Real estate July 7, 2013 By Mary Shanklin, Orlando Sentinel Seneff was inducted into the Horatio Alger Association in 2010.
In 2003, a division of the company bought five hotels with Hilton Hotels
Hilton Hotels & Resorts (formerly known as Hilton Hotels) is a global brand of full-service hotels and resorts and the flagship brand of American multinational hospitality company Hilton.
The original company was founded by Conrad Hilton. As ...
for a combined $402 million. CNL sold its hotel holdings in 2007. CNL's REITs owned many major resorts and hotels such as Darien Lake, Frontier City
Frontier City is a western-themed amusement park in Oklahoma City. It is owned by EPR and operated by Six Flags. The park originally opened in 1958. Frontier City is the third-oldest Six Flags park behind Six Flags New England and Six Flags Gre ...
, Elitch Gardens Theme Park
Elitch Gardens Theme & Water Park is an amusement park in Denver, Colorado. It is owned by Kroenke Sports & Entertainment and operated by Premier Parks, LLC. Distinctive for being located in a downtown area, it is open April through October.
H ...
, Okemo Mountain, Sugarloaf ski resort, Jiminy Peak, and Magic Springs and Crystal Falls and Wild Waves Theme Park. CNL sold its theme parks and Northstar California ski resort to the real estate investment trust EPR Properties. The remaining ski resorts were sold to Och-Ziff Capital Management
Sculptor Capital Management (formerly Och-Ziff Capital Management Group) is an American global diversified alternative asset management firm. They are one of the largest institutional alternative asset managers in the world. The firm operates mu ...
.
CNL founder James Seneff purchased a controlling stake in Alliance Bankshares, taking over the company and renaming it CNLBank. The bank was headquartered in the Citrus Center
The Citrus Center, also known as the BB&T building, originally known as the CNA Tower, is a commercial office building in Orlando, Florida, United States located at 255 South Orange Avenue. Topped out in December 1970 and completed in April 197 ...
. Valley National Bank acquired CNLBank in 2015.
In 2011, CNL launched CNL Properties Trust. Also in 2011, CNL joined with Kohlberg Kravis Roberts
KKR & Co. Inc., also known as Kohlberg Kravis Roberts & Co., is an American global investment company that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and, through its strate ...
to form an investment company for private corporate debt.
Recently CNL sold the Mount Washington Hotel to Omni Mount Washington LLC in December 2015.
CNL donated $10 million to help build the Dr. Phillips Center for the Performing Arts.
See also
*National Retail Properties
National Retail Properties, Inc. is a real estate investment trust that invests primarily in high-quality properties that are subject to long-term NNN Leases. It is organized in Maryland with its principal office in Orlando, Florida.
As of Decem ...
References
External links
Company Homepage
{{CNL attractions
Financial services companies established in 1973
Financial services companies of the United States
1973 establishments in Florida
American companies established in 1973