EPR Properties
Real estate investment trust
From Wikipedia, the free encyclopedia
EPR Properties, formerly Entertainment Properties Trust, is a real estate investment trust based in Kansas City, Missouri, that invests in amusement parks, movie theaters, ski resorts, and other entertainment properties. It owns 353 properties as of 2022.
 | |
| Company type | Public company |
|---|---|
| NYSE: EPR S&P 400 component | |
| Founded | August 22, 1997 |
| Headquarters | Kansas City, Missouri |
Key people | |
| Revenue | $532 million[1] (2021) |
| $99 million[1] (2021) | |
| Total assets | $5.8 billion[1] (2021) |
| Total equity | $2.6 billion[1] (2021) |
Number of employees | 53[2] (2021) |
| Website | www |
History
Entertainment Properties Trust was created by AMC Entertainment executive Peter Brown and financial analyst David Brain. They decided to establish a REIT focused on megaplex movie theaters after failing to find an existing REIT to help finance AMC's development of theaters.[3][4] The company was incorporated on August 22, 1997.[5] It held its initial public offering in November 1997, raising $278 million.[6] By March 1998, Entertainment Properties had purchased 13 AMC theaters in sale-and-leaseback transactions.[7]
In 2005, the company established VinREIT, a subsidiary focused on vineyard properties.[8][9] It purchased a portfolio of six vineyards and wineries from Constellation Brands in 2008 for $115 million.[10][11] By 2010, the company was "evaluating" VinREIT after a downturn in the wine industry,[12] and in 2011, all of the wine properties were put up for sale.[13] The sales were completed by 2014.[14]
Entertainment Properties Trust began investing in charter school properties in 2007, primarily through a deal with Imagine Schools.[15][16] By 2012, the company owned 41 schools.[17]
The company changed its name to EPR Properties in 2012 to reflect its diversification into recreation and education properties.[18][19]
In 2015, Brain retired as chief executive officer.[20]
In 2017, EPR bought a portfolio of properties from CNL Financial Group for $456 million, comprising the Northstar California ski resort, 15 waterparks and amusement parks, and 5 small family entertainment centers.[21]
In November 2019, the company sold its portfolio of charter schools for $454 million.[22]
In March 2026, it was announced EPR Properties would acquire seven properties from Six Flags, consisting of six amusement parks and a water park, for $331 million. The sale is expected to complete by the first or second quarter.[23]
Properties
As of 2022, the company owns 353 properties, including 175 movie theaters, 74 education properties, 56 eat-and-play properties, 18 amusement parks and water parks, 11 ski resorts, and 8 hotels.[24]
Notable properties are listed below.[25]
Amusement parks and water parks
- Calypso Park — Limoges, Ontario
- Camelbeach Waterpark — Tannersville, Pennsylvania
- Frontier City — Oklahoma City, Oklahoma
- Hawaiian Falls Garland — Garland, Texas
- Hawaiian Falls The Colony — The Colony, Texas
- Magic Springs — Hot Springs, Arkansas
- Pacific Park — Santa Monica, California
- Rapids Water Park — Riviera Beach, Florida
- Six Flags Darien Lake — Darien, New York
- Six Flags Hurricane Harbor Concord — Concord, California
- Six Flags Hurricane Harbor Oklahoma City — Oklahoma City, Oklahoma
- Six Flags Hurricane Harbor Phoenix — Glendale, Arizona
- Six Flags Hurricane Harbor SplashTown — Spring, Texas
- Village vacances Valcartier — Québec City, Québec
- Valcartier Indoor Bora Parc — Québec City, Québec
- Wet'n'Wild Hawaii — Kapolei, Hawaii
- Wild Waves Theme Park — Federal Way, Washington
Pending properties
- La Ronde — Montreal, Québec
- Michigan's Adventure and WildWater Adventure — Muskegon, Michigan
- Schlitterbahn Galveston — Galveston, Texas
- Six Flags Great Escape and Hurricane Harbor — Queensbury, New York
- Six Flags Great Escape Lodge & Indoor Waterpark — Queensbury, New York
- Six Flags St. Louis and Hurricane Harbor St. Louis — Eureka, Missouri
- Valleyfair and Soak City — Shakopee, Minnesota
- Worlds of Fun and Oceans of Fun — Kansas City, Missouri
Eat-and-play properties
- Entertainment Centrum — 4 locations in Ontario
- New Roc City — New Rochelle, New York
- Ninkasi Brewing Tasting Room — Eugene, Oregon
- Topgolf — 36 locations
Ski resorts
- Alpine Valley Ski Area
- Alyeska Resort
- Boston Mills/Brandywine Ski Resort
- Camelback Mountain Resort
- Hunter Mountain
- Jack Frost Ski Resort / Big Boulder Mountain
- Mad River Mountain
- Mount Snow
- Northstar California
- Village Vacances Valcartier (sliding only)