Kings Island parent sells California water park

The parent company of Ohio amusement parks Cedar Point and Kings Island announced Wednesday it has sold a stand-alone water park in Southern California.

Sandusky, Ohio-based Cedar Fair Entertainment Co. sold Knott’s Soak City – Palm Springs to CNL Lifestyle Properties Inc.

The sale price was not disclosed.

Cedar Fair noted that the net proceeds from this sale will be reinvested in core assets, including a multi-year refreshment of hotel properties in Sandusky, which was announced in 2012.

Kings Island unveiled plans Aug. 8 to build a new $24 million roller coaster named Banshee at the Mason amusement park.