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Northstar retail project to be sold

NNBW staff

A real estate property trust from Orlando, Fla., said last week it expects to close this year on its planned purchase of 46 retail and commercial spaces at Northstar Commercial Village at North Lake Tahoe.

In a filing with the Securities and Exchange Commission, CNL Income Properties Inc. said it committed to buy the retail property as part of its agreement to buy two Lake Tahoe ski resorts from Booth Creek Ski Holdings Inc.

The company bought Northstar-at Tahoe Resort for $80.1 million and Sierra-at-Tahoe Resort for $39.9 million in January from Booth Creek, which leased back the resorts and continues to operate them.