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]
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.[23]
