EPR Properties Sees Rent-Payment Dive

Kansas City-based EPR Properties, which operates experiential real estate properties in 44 states, such as entertainment centers with cinemas, has only received 15 percent of rent payments from tenants so far in April.

As result, EPR is deferring rent payments to tenants through the month of April.

AMC Theatres, which has closed all of its locations during the pandemic, accounts for 18 percent of EPR’s revenue, and the landlord is taking a non-cash write-off of $12.5 million for straight-line rent from AMC. But there is good news, as AMC has issued a $500 million offering of notes to help it stay in business through Thanksgiving.

EPR announced it has 65 more months of cash left to burn through with the 15-percent rent payments.