It has been found that a real estate investment trust (REIT) is planning to sell its more than a dozen ski resorts from Maine to California.

CNL Lifestyle Properties has planned to close Okemo Mountain in Ludlow, which is worth hundreds of millions of dollars.

The real estate investment trust also owns 16 resorts including Sunday River and Sugarloaf in Maine, Bretton Woods, Loon Mountain and Mount Sunapee in New Hampshire, and Okemo Mountain in Vermont. It is also owner of Crested Butte in Colorado, Brighton in Utah, and Sierra-at-Tahoe in California.

If CNL sells its all ski resorts to a single buyer then it will be the largest single ski resort transaction in the history of the sport.

Steve Rice, senior managing director of CNL Financial Group, said that CNL will evaluate options for its remaining properties including ski resorts, theme parks, and marinas.

Besides selling the properties, an alternative includes a private buyout or listing on a publicly traded exchange, he added.

REITs are considered to be an investment vehicle for a variety of properties including hotels, office buildings and malls. But it has been nearly 15 or more years since they have entered ski industry.

Michael Berry, president of the National Ski Areas Association, said that Missouri-based EPR is the only another REIT player in the ski industry.

CNL Lifestyle Properties in 2012 was valued at as much as $3 billion with ownership of more than 100 water parks, ski resorts, marinas and senior housing developments. Soon after this, the value of the company's properties dropped due to recession in real estate.

CNL in June 2014 agreed to sell its all 28 golf properties for $320 million. In December, it announced about its agreement to sell its senior housing for $790 million.