EPR Properties announced Thursday that it has entered into agreements to acquire a portfolio of seven regional parks from Six Flags Entertainment Corporation.
According to a press release on EPR Properties’ website, the gross transactional value was $342 million, of which EPR Properties provided approximately $315 million, and operating tenants provided the balance, including funds for working capital and capital improvements.
The seven parks comprise over 1,600 acres, featuring 418 attractions across five states and Canada, and drawing approximately 4.5 million annual attendees. The six regional parks that are located throughout the U.S. will be leased to and operated by Enchanted Parks (formerly Innovative Attraction Management) pursuant to a long-term master lease, and the one park located in Canada will be leased to and operated by La Ronde Operations, Inc. following the completion of the transaction.
“This strategic acquisition represents a compelling opportunity to expand our attractions portfolio with high-quality experiential real estate assets in established regional markets,” Gregory K. Silvers, Chairman and Chief Executive Officer of EPR Properties, said in the news release. “These properties embody the essential characteristics we seek: delivering stable, long-term cash flows, strong drive-to accessibility, multi-generational appeal, and significant underlying land value.
“This transaction aligns with our disciplined investment criteria and accelerates our strategic expansion into experiential properties that create enduring value for our shareholders.”
“This step allows us to concentrate on the Six Flags parks with the greatest potential for innovation, expansion, and elevated guest experiences. That means by focusing today, we’re building the foundation for a stronger, more exciting future,” Six Flags Entertainment Corporation said in a post on its website.
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According to the release, the company has acquired the non-Six Flags branded property names as part of the transaction and acquired rights to the Six Flags brand through 2026. The transaction is expected to close toward the end of the first quarter or beginning of the second quarter, subject to the satisfaction of certain closing conditions and third-party approvals.
The parks will continue their regular operating schedules, and all season passes sold will be recognized through the 2026 operating season, the press release stated.
“We understand how meaningful these parks are to the communities they serve and to the guests who have grown up visiting them. Our teams at these locations have created countless memories, and they are an important part of the Six Flags family,” Six Flags Entertainment Corporation said in its website statement. “We are confident in the future of these parks under the care of EPR and its operating partners, who have strong experience managing parks of this scale.
“At the same time, this decision allows Six Flags to invest more deeply in the parks with the greatest opportunity for growth and innovation.”
Properties included in the transaction