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Entertainment Properties Acquires Georgia Megaplex Theatre for $7 Million
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01/16/2005
Entertainment Properties Trust (NYSE:EPR), a real estate investment trust (REIT) that owns entertainment-related properties, today announced it has completed the acquisition of the real estate associated with the AmStar Cinemas 16-screen megaplex in Macon, Georgia.
Opened in 2000, the AmStar Cinemas 16-screen megaplex has 2,950 seats and is the number one theatre in the Macon market. AmStar Entertainment is the exhibition company operating the theatre under a long-term net lease.
"The acquisition of the AmStar 16 expands our portfolio of market-dominant megaplex theatre properties and brings with it a new tenant and a new market," said David Brain, President and Chief Executive Officer of Entertainment Properties Trust.
Entertainment Properties Trust is the only publicly traded real estate investment trust (REIT) focused on the acquisition of high-quality real estate assets leased to leading location-based entertainment operators. Since November of 1997, EPR has acquired more than $700 million of properties. The Company's common shares of beneficial interest trade on the New York Stock Exchange under the ticker symbol EPR. Entertainment Properties Trust company contact: Jon Weis, 30 West Pershing Road, Suite 201, Kansas City, Missouri 64108; 888/EPR-REIT; fax: 816/472-5794. The Company website is at www.eprkc.com.
