EPR Properties Acquires Camelback Mountain Resort
EPR Properties (NYSE: EPR) today announced that subsequent to quarter end
the Company closed on a transaction to acquire the Camelback Mountain
Resort in Tannersville, PA, for approximately $70 million. The resort
consists of 160 acres of skiable terrain and includes a waterpark, an
outdoor adventure park, a 40 lane tubing facility and base lodge. The
resort attracts approximately 900,000 visitors annually.
The property is currently leased to CBH2O who has operated the resort
since 2005, and has committed to an additional 20-year term. Ken Ellis
and Art Berry, principals of CBH2O, have consistently reinvested in the
property to develop additional attractions to enhance attendance and
cash flow in all seasons.