EPR Properties was organized on August 29, 1997 in Maryland as a real estate investment trust (REIT). The Company completed its initial public offering of common shares of beneficial interest on November 18, 1997. It develops, owns, leases and finances properties in select market segments mainly related to entertainment, education and recreation. The Company's properties are located in the United States and Canada. For financial reporting purposes, the company groups its investments into four reportable operating segments: entertainment, education, recreation and other. As of December 31, 2013, its entertainment segment consisted of investments in megaplex theatres, entertainment retail centers, family entertainment centers and other retail parcels. The Company owned real estate portfolio of megaplex theatre properties consisted of approximately 9.3 million square feet and was 100% leased and its remaining owned entertainment real estate portfolio consisted of 1.8 million square feet and was 92% leased. As of December 31, 2013, its education segment consisted of investments in public charter schools. Recreation segment consisted of investments in metro ski parks, water-parks and golf entertainment complexes. Its other segment consisted of investments in vineyards and wineries and land held for development. The Company competes for real estate financing opportunities with other companies that invest in real estate, as well as traditional financial sources such as banks and insurance companies. Its properties are also subject to various other federal, state and local regulatory requirements.
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