Orlando firm to purchase Magic Springs

Posted | Contributed by Jeff

Magic Springs Development Co. LLC announced Tuesday that it has signed an agreement to sell its Hot Springs amusement park to a real estate investment trust. CNL Income Properties Inc. of Orlando, Fla., will close on the purchase on or before April 30. It will then lease Magic Springs & Crystal Falls back to Magic Springs Development, which will continue to run the park. The developers will sign a 20-year lease, and no changes in management or staffing are expected.

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