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.
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SOURCE: EPR Properties
EPR Properties Brian Moriarty, (816) 472-1700 www.eprkc.com