EPR Properties

EPR Properties (NYSE:EPR) is a leading diversified experiential real estate investment trust (REIT) that specializes in select enduring experiential properties. The firm focuses on real estate venues that facilitate out-of-home leisure, recreation, and social experiences, where consumers choose to spend their discretionary time and money. This strategic focus allows EPR Properties to differentiate itself from traditional REITs by tapping into the growing consumer preference for experiences over material goods.

The company was incorporated on August 22, 1997, and was formerly known as Entertainment Properties Trust. It was created by AMC Entertainment executive Peter Brown and financial analyst David Brain, who aimed to establish a REIT focused on megaplex movie theaters after failing to find an existing REIT to finance AMC's theater development. EPR Properties has grown to manage a diverse portfolio of properties, with total investments currently at $7.0 billion.

EPR Properties' investment portfolio includes a wide array of experiential assets such as theatres, eat & play attractions, ski resorts, experiential lodging, gaming venues, cultural sites, fitness & wellness centers, and educational properties including private schools and early childhood education centers. As of 2022, the company owned 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. Recent acquisitions include a portfolio of six U.S. parks from Six Flags Entertainment Corporation, with a seventh park in Canada expected to close in Q2 2026.

The firm's team is described as experienced and focused on building strong, sustainable relationships with partners. They employ a disciplined investment criteria, critically reviewing investments at the industry, property, and tenant levels. This approach, combined with their deep market knowledge in experiential real estate, provides a competitive advantage in identifying market trends and delivering stable and attractive returns to shareholders.