Company: EPR-PE
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001045450-25-000120
Chunk: 81

Company: EPR PROPERTIES
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 2
Chunk 81
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 $25,046 $7,236 

The above amounts include $2.4 million and $1.4 million in capitalized interest for the six months ended June 30, 2025 and 2024, respectively, and $175 thousand and $88 thousand in capitalized other general and administrative direct project costs for the six months ended June 30, 2025 and 2024, respectively. Excluded from the table above is approximately $3.1 million and $2.9 million of maintenance capital expenditures for the six months ended June 30, 2025 and 2024, respectively.

Dispositions

During the six months ended June 30, 2025, we completed the sales 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 for net proceeds totaling $106.4 million. In connection with these sales, we recognized a net gain on sale totaling $26.2 million.

27

During the six months ended June 30, 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.

Subsequent to June 30, 2025, we sold an additional vacant theatre property for net proceeds of approximately $16.0 million and we expect to recognize a gain on this sale of approximately $3.0 million during the three months ending September 30, 2025. 

Chief Investment Officer Transition

Gregory E. Zimmerman recently notified the Company of his intention to retire from his position as Executive Vice President and Chief Investment Officer in the first quarter of calendar year 2026. We have hired Ben Fox, who will be joining us in August 2025, as an Executive Vice President and is expected to succeed Mr. Zimmerman as Chief Investment Officer upon Mr. Zimmerman’s retirement from such position. Mr. Fox previously served as Managing Director in the Net Lease Division of Ares Management Corporation (“Ares”), a global alternative investment manager operating in the credit, private equity and real estate markets. Prior to Ares, Mr. Fox served as Executive Vice President, Asset Management and Operations at Realty Income, where he oversaw and managed approximately 7,000 properties across the U.S. and U.K. 

Capital Markets Activities

Upon maturity, on April 1, 2025, we fully repaid $300.0 million