Business
EPR Properties Announces $113 Million in Sale Leaseback Transactions
Company Anticipates Exceeding the High End of 2025 Investment Spending Guidance ...
About this update from E-power Resources, Inc.
[{"type":"text","content":"EPR Properties Announces $113 Million in Sale Leaseback Transactions\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n.bwuline { text-decoration: underline }\n \n\n\n\n\n\n Company Anticipates Exceeding the High End of 2025\n \n\n Investment Spending Guidance\n \n\n\n\n\n\n EPR Properties (NYSE:EPR) (the “Company”) today announced the acquisition and leaseback of a five-property portfolio of championship golf courses, along with the acquisition and leaseback of the Ocean Breeze Water Park located in Virginia Beach, VA. The blended cap rate for the combined $113 million in investments is 8.6%. Following these acquisitions and additional investments, the Company now anticipates that investment spending will be approximately $285 million versus its previously stated investment spending guidance of $225-$275 million.\n \n\n\n Golf Course Portfolio\n \n\n\n The golf course portfolio includes five semi-private championship golf courses located in the Dallas, TX metropolitan area which include full-service food and beverage offerings along with comprehensive practice facilities. The properties will be leased and operated by Advance Golf Partners, a leading golf course operator who brings deep experience and proven strategy for successfully operating daily fee golf. The Company’s investment is backed by extensive research in the on-course golf sector which is viewed to have an addressable market of over $2 billion.\n \n\n\n Investment Highlights\n \n\n\n\n\n Attractive Supply / Demand Characteristics\n \n – The golf industry has experienced a significant shift. While overall supply of golf courses has materially contracted, demand for high quality courses has regained strong and sustained momentum.\n \n\n\n High Quality Real Estate –\n \n The properties are located within dense high-growth submarkets in Dallas which index high in golf participation.\n \n\n\n Enhanced Experiential Diversification –\n \n The transaction adds further diversification to the Company’s portfolio of experiential properties.\n \n\n\n\n Ocean Breeze Water Park\n \n\n\n Consisting of more than 30 rides and attractions on 20 acres of land, including a million-gallon wave pool, Ocean Breeze is a regional water park serving the Virginia Beach, Norfolk and Newp...