EPR Properties Announces $142 Million Acquisition of the Village Vacances Valcartier and Calypso Properties
KANSAS CITY, Mo.--(BUSINESS WIRE)-- EPR Properties (NYSE:EPR) today announced that it is acquiring the Village Vacances Valcartier resort and hotel in Quebec City, Quebec, and the Calypso Waterpark in Ottawa, Ontario for aggregate consideration of approximately $142 million USD (approximately $179 million CAD) using cash on hand. Simultaneous with the acquisition, the Company is leasing these properties to Premier Parks pursuant to a long-term triple net lease.
The Village Vacances Valcartier is an iconic four-season resort covering approximately 225 acres and offering indoor and outdoor water park attractions and winter activities, such as tubing and sledding, over 600 campground sites and a variety of food and beverage options. The resort also includes The Hotel Valcartier, a four-star modern hotel with 153 rooms, the famous Hotel de Glace (ice hotel) which offers guests a truly unique winter experience and the Aroma Spa.
Calypso Waterpark is the largest themed waterpark in Canada covering approximately 350 acres, with 35 water slides, two lazy rivers and home to the largest wave pool in the country.
“We are delighted to announce the acquisition of two of the top performing attractions in Canada. These acquisitions demonstrate the value of our years of experience and long-standing relationships in experiential real estate,” commented Gregory Silvers, Chairman and CEO of EPR Properties. “Consistent with our stated strategy, we are ramping up our investment spending as our pipeline of experiential real estate opportunities continues to grow.”
About EPR Properties
EPR Properties (NYSE: EPR) is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues which create value by facilitating out of home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have $6.5 billion in total investments across 44 states. We adhere to rigorous underwriting and investing criteria centered on key industry, property and tenant level cash flow standards. We believe our focused approach provides a competitive advantage and the potential for stable and attractive returns. Further information is available at www.eprkc.com.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
With the exception of historical information, certain statements contained or incorporated by reference herein may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The forward-looking statements presented herein, if any, are based on the Company’s current expectations. Forward-looking statements involve numerous risks and uncertainties, and you should not rely on them as predictions of actual events. There is no assurance the events or circumstances reflected in the forward-looking statements will occur. You can identify forward-looking statements by use of words such as “will be,” “intend,” “continue,” “believe,” “may,” “expect,” “hope,” “anticipate,” “goal,” “forecast,” “pipeline,” “estimates,” “offers,” “plans,” “would” or other similar expressions or other comparable terms or discussions of strategy, plans or intentions contained or incorporated by reference herein. Forward-looking statements necessarily are dependent on assumptions, data or methods that may be incorrect or imprecise. These forward-looking statements represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Many of the factors that will determine these items are beyond our ability to control or predict. For further discussion of these factors see “Item 1A. Risk Factors” in our most recent Annual Report on Form 10-K and, to the extent applicable, our Quarterly Reports on Form 10-Q.
For these statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on our forward-looking statements, which speak only as of the date hereof or the date of any document incorporated by reference herein. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Except as required by law, we do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances after the date hereof.
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EPR Properties
Brian Moriarty, (816) 472-1700
www.eprkc.com
Source: EPR Properties
Entertainment Properties Trust, Inc.
Symbol: EPR
CIK: 1045450
Exchange: NYSE
Founded: 1997 (27 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Mid-Cap
REIT Sector: Specialty, Diversified
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
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Last updated: 2024-11-21 - v1.3