Baxter Underwood was named senior vice president and chief investment officer at CNL Lifestyle Properties. In his new role, he will lead the acquisitions team in identifying new business opportunities and increasing the company’s $2.3 billion portfolio of assets. CNL Lifestyle Properties is a real estate investment trust (REIT) that invests in lifestyle properties such as golf courses, marinas, gated attractions and mountain lifestyle resorts.
Prior to his promotion, Underwood served as vice president of Investments in which he oversaw the acquisition and asset management of ski, mountain lifestyle and marina investments.
“Baxter was instrumental in the research and launch of the REIT and has led efforts to close more than $1.0 billion in transactions in our portfolio,” said Byron Carlock, president and CEO of CNL Lifestyle Properties. “He has also demonstrated leadership in developing and maintaining business relationships within our ski, marina and retail sectors.”
Underwood is active in several community organizations including Hope International, the Mercy Street & West Dallas Initiative, and the Trinity Forum. Prior to joining CNL in 2002, he served with a global microfinance organization, Opportunity International, consolidating its Latin American operations.
“I look forward to continuing to seek sound investment opportunities for CNL Lifestyle Properties’ investors,” Underwood said. “I am optimistic about the investment climate in general and, specifically, the opportunities that will be available in the lifestyle sector.”
For more information, visit www.cnllifestylereit.com.