EPR Properties Diversifying Recreational Real Estate Portfolio
Greg Silvers, president and CEO of EPR Properties (NYSE: EPR), joined REIT.com for a video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.
Silvers commented on the company’s recent investment in fitness clubs and an indoor skydiving operator. He noted that EPR sees indoor skydiving as a niche category in its portfolio with less growth potential than for fitness clubs.
Meanwhile, Silvers said the recent closing of EPR’s transaction to purchase ski resorts, waterparks, amusement parks and family entertainment centers from CNL Lifestyle Properties, Inc. will increase the geographic and tenant diversity of EPR’s recreation portfolio. He added that the deal will help solidify the position of recreation as one of the three segments that comprise EPR’s overall portfolio.
Silvers also spoke about the increased attention being paid to experience-based real estate assets.
“We’re really glad that people are appreciating the value of experiential properties, but there’s no doubt that it will introduce more competition,” Silvers said.
“It’s a bit of a double-edged sword, but we think we have a substantial beachhead that gives us a competitive advantage,” Silvers added.
Published at Fri, 16 Jun 2017 12:30:31 +0000