Company: EPR-PE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001045450-25-000120
Chunk: 85

Company: EPR PROPERTIES
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 85
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 30, 2025. 

(3) The change in provision (benefit) for credit losses, net for the six months ended June 30, 2025 compared to the six months ended June 30, 2024 was due primarily to a release from an additional $4.0 million in funding commitments on one mortgage note receivable and changes in our estimated current expected credit losses mostly due to macro-economic conditions.

(4) Impairment charges recognized during the three and six months ended June 30, 2024 related to one theatre property. No impairment charges were recognized during the three and six months ended June 30, 2025. 

(5) The gain on sale of real estate for the six months ended June 30, 2025 related to the sale of two vacant theatre properties, two operating theatre properties, two leased theatre properties, one vacant early childhood education center and 10 leased early childhood education centers. The gain on sale of real estate for the six months ended June 30, 2024 related to the sale of two cultural properties, four vacant theatre properties and a leased theatre property. 

(6) The increase in interest expense, net, for the three and six months ended June 30, 2025 compared to the three and six months ended June 30, 2024 related primarily to an increase in our weighted average interest rate on outstanding debt due to additional borrowings on our unsecured revolving credit facility to pay-off lower rate senior unsecured notes at their maturity. 

Liquidity and Capital Resources

Cash and cash equivalents were $13.0 million at June 30, 2025.  In addition, we had restricted cash of $15.8 million at June 30, 2025, which related primarily to escrow deposits required for property management, mortgage note and debt agreements or held for potential acquisitions, developments and redevelopments. 

Mortgage Debt, Senior Notes and Unsecured Revolving Credit Facility 

At June 30, 2025, we had total debt outstanding of $2.8 billion, of which 99% was unsecured.

At June 30, 2025, we had outstanding $2.2 billion in aggregate principal amount of unsecured senior notes (excluding the private placement notes discussed below) ranging in interest rates from 3.60% to 4.95%. The notes contain various covenants, including: (i) a limitation on incurrence of any debt that would cause