Company: EPR-PE
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001045450-25-000082
Chunk: 51

Company: EPR PROPERTIES
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 51
---
001 13,871 33,437 10,558 3,845 Education:Total Education— — — — — — Total Investment Spending$85,712 $24,001 $13,871 $33,437 $10,558 $3,845 

The above amounts include $1.5 million and $1.0 million in capitalized interest for the three months ended March 31, 2025 and 2024, respectively, and $39 thousand and $60 thousand in capitalized other general and administrative direct project costs for the three months ended March 31, 2025 and 2024, respectively. Excluded from the table above is approximately $1.3 million and $1.6 million of maintenance capital expenditures and other spending for the three months ended March 31, 2025 and 2024, respectively.

Dispositions

During the three months ended March 31, 2025, we completed the sales of one vacant theatre property, two operated theatre properties, one vacant early childhood education center and 10 early childhood education centers for net proceeds totaling $70.8 million. In connection with these sales, we recognized a net gain on sale totaling $9.4 million.

24

During the three months ended March 31, 2025, we received $8.1 million in proceeds representing prepayment in full on two mortgage note receivables that were secured by two early childhood education center properties.

Capital Markets Activities

Upon maturity, on April 1, 2025, we fully repaid $300.0 million of senior unsecured notes using borrowings under our $1.0 billion senior unsecured revolving credit facility. 

Results of Operations

Three months ended March 31, 2025 compared to the three months ended March 31, 2024 

Analysis of Revenue

The following table summarizes our total revenue (dollars in thousands):

Three Months Ended March 31,20252024ChangeMinimum rent (1)$133,841 $131,225 $2,616 Percentage rent (2)3,257 1,900 1,357 Straight-line rent3,397 3,670 (273)Tenant reimbursements5,421 5,032 389 Other rental revenue443 454 (11)Total Rental Revenue$146,359 $142,281 $4,078 Other income11,636