-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Wi6DMY7wV3IaQg6E+raT7/utbrTcYpF4LBrfGzSnOd3UBxMx2gyZ2ZDULcNX9MZO HwPRwdKkO2TjOU23Wv1+3g== 0001193125-08-254344.txt : 20081216 0001193125-08-254344.hdr.sgml : 20081216 20081216162151 ACCESSION NUMBER: 0001193125-08-254344 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20081216 DATE AS OF CHANGE: 20081216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CNL LIFESTYLE PROPERTIES INC CENTRAL INDEX KEY: 0001261159 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-146457 FILM NUMBER: 081252571 BUSINESS ADDRESS: STREET 1: CNL CENTER AT CITY COMMONS STREET 2: 450 S ORANGE AVENUE CITY: ORLANDO STATE: FL ZIP: 32801 BUSINESS PHONE: 4076501000 MAIL ADDRESS: STREET 1: CNL CENTER AT CITY COMMONS STREET 2: 450 S ORANGE AVENUE CITY: ORLANDO STATE: FL ZIP: 32801 FORMER COMPANY: FORMER CONFORMED NAME: CNL INCOME PROPERTIES INC DATE OF NAME CHANGE: 20030825 424B3 1 d424b3.htm 424(B)(3) STICKER SUPPLEMENT 424(b)(3) Sticker Supplement

Filed pursuant to 424(b)(3)
Registration No. 333-146457

CNL LIFESTYLE PROPERTIES, INC.

STICKER SUPPLEMENT DATED DECEMBER 16, 2008

TO PROSPECTUS DATED APRIL 9, 2008

This Sticker Supplement is part of, and should be read in conjunction with, our prospectus dated April 9, 2008, Supplement dated October 9, 2008 and Sticker Supplement dated November 14, 2008. Capitalized terms have the same meaning as in the prospectus unless otherwise stated herein. The terms “we,” “our,” “us” and “CNL Lifestyle Properties” include CNL Lifestyle Properties, Inc. and its subsidiaries.

EXPLANATORY NOTE

The attached page replaces page F-3, the Unaudited Pro Forma Condensed Consolidated Statement of Operations for the Six Months ended June 30, 2008, of our Supplement dated October 9, 2008. In the Supplement as filed, we inadvertently presented amounts in the column labeled “Historical” that reflected the three-month period ending June 30, 2008. We have corrected the “Historical” column with amounts for the six-month period ending June 30, 2008 and extended new corresponding results in the column labeled “Pro Forma Results.”

CNL LIFESTYLE PROPERTIES, INC.

AND SUBSIDIARIES

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

FOR THE SIX MONTHS ENDED JUNE 30, 2008

(in thousands, except per share data)

 

     Historical (1)     Pro Forma
Adjustments		     Pro Forma
Results		  

Revenues:

       

Rental income from operating leases

    $ 99,547     $ 1,131 (2)   $ 101,117  
       439 (3)  

Interest income on mortgages and other notes receivable

      2,712       —         2,712  
                        

Total revenues

      102,259       1,570       103,829  
                        

Expenses:

       

Asset management fee to Advisor

      10,635       121 (6)     10,756  

General and administrative

      6,069       —         6,069  

Ground lease and permit fees

      4,524       439 (3)     4,963  

Repairs and maintenance

      779       —         779  

Other operating expenses

      2,196       —         2,196  

Depreciation and amortization

      48,003       697 (7)     48,700  
                        

Total expenses

      72,206       1,257       73,463  
                        

Operating income

      30,053       313       30,366  
                        

Other income (expense):

       

Interest and other income

      3,144       —         3,144  

Interest expense and loan cost amortization

      (15,661 )     (94 )(9)     (15,755 )

Equity in earnings of unconsolidated entities

      1,491       —         1,491  
                        

Total other income (expense)

      (11,026 )     (94 )     (11,120 )
                        

Net income

    $ 19,027     $ 219     $ 19,246  
                        

Earnings Per Share of Common Stock

       

(Basic and Diluted)

    $ 0.09       $ 0.10  
                  

Weighted Average Number of Shares of Common Stock Outstanding (Basic and Diluted)

      200,776          (10)     200,776  
                  

See accompanying notes to unaudited pro forma condensed consolidated financial statements

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