Image: Rapids Water Park first opened in the 1970s

CNL Lifestyle Properties has announced the purchase of Rapids Water Park in Florida, US, in a move that further diversifies the company's existing attractions portfolio.

The waterpark is leased to and run by Rapids Holdings LLC and boasts 35 water slides and thrill rides; a 25,000sq ft (2,323sq m) wave pool; and a number of children's play areas.

Rapids Water Park first opened during the late 1970s and benefited from a major expansion during the mid-1990s. Facilities also include a 0.25-mile (0.4km) lazy river.

Kieran Burke leads Rapid Holdings LLC and, together with his partners, operates a further six other waterparks through Premier Attractions Management and other affiliates.

Three of those additional six are owned by CNL Lifestyle Properties - Frontier City Theme Park and White Water Bay, both in Oklahoma City, and Splashtown in Houston, Texas.

CNL Financial Group senior vice president and managing director Curt Caffey said: "Rapids Water Park is an ideal investment for us because no similar park of comparable size and quality exists in South Florida today."

Details: www.cnllifestylereit.com