CNL Financial Group
| Company type | Private |
|---|---|
| Industry | Investment management, Commercial real estate |
| Predecessor | Commercial Net Lease |
| Founded | 1973 |
| Founder | James Seneff |
| Headquarters | Orlando, Florida , United States |
Area served | United States |
Key people | James Seneff (founder) |
| Products | Commercial property investment and management, REITs, private enterprise investments |
| Owner | Private |
CNL Financial Group (commonly known as CNL), originally named Commercial Net Lease, is a privately held investment management and commercial real estate firm headquartered in Orlando, Florida. Established in 1973 by James Seneff, the company has been instrumental in the revitalization of downtown Orlando, notably through the development of the CNL Tower located on Orange Avenue.
Specializing in commercial property investment and management, CNL also operates Real Estate Investment Trusts (REITs) and invests in private enterprises. Its business segments include CNL Commercial Real Estate, CNL Securities Corp., CNL Growth Properties, CNL Healthcare Properties, Global Income Trust, and Corporate Capital Trust. In 2013, CNL was recognized as the 33rd largest private company in Florida, with assets valued at approximately $25 billion. That same year, founder James Seneff was honored with induction into the Horatio Alger Association.
In 2003, a CNL subsidiary partnered with Hilton Hotels to acquire five hotel properties for $402 million; however, the company divested its entire hotel portfolio by 2007. Historically, CNL’s REITs have owned prominent resorts and amusement parks including Darien Lake, Frontier City, Elitch Gardens, Okemo Mountain, Sugarloaf, Jiminy Peak, Magic Springs and Crystal Falls, as well as Wild Waves Theme Park. These holdings were subsequently sold to EPR Properties and Och-Ziff Capital Management.
James Seneff also secured majority ownership of Alliance Bankshares, which was rebranded as CNLBank and operated from the Citrus Center before being acquired by Valley National Bank in 2015.
In 2011, CNL introduced CNL Properties Trust and collaborated with Kohlberg Kravis Roberts to invest in private corporate debt instruments. The company completed the sale of the Mount Washington Hotel to Omni Mount Washington LLC in December 2015.
Additionally, CNL contributed $10 million toward the construction of the Dr. Phillips Center for the Performing Arts.