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ORLANDO-CNL Lifestyle Properties, a $2.7 billion REIT focused on lifestyle properties, has closed on a $400 million bond offering to qualified institutional buyers. The 7.25% unsecured senior notes, which were issued at 99.249% of par and a 7.375% yield to maturity, are due in April 2019. The bonds provide attractive debt financing for the REIT, and were rated BB- by Standard & Poor’s and Ba3 by Moody’s.

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