|
|
|
|
|
Maryland
|
|
001-13561
|
|
43-1790877
|
(State or other jurisdiction of
incorporation)
|
|
(Commission
File Number)
|
|
(I.R.S. Employer
Identification No.)
|
o
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
o
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
o
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
o
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
|
|
|
Exhibit
No.
|
|
Description
|
|
||
4.1
|
|
Note Purchase Agreement, dated as of August 1, 2016, by and among EPR Properties and the purchasers named therein.
|
|
|
|
99.1
|
|
Press Release dated August 3, 2016 issued by EPR Properties announcing its results of operations and financial condition for the second quarter and six months ended June 30, 2016.
|
|
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|
99.2
|
|
Supplemental Operating and Financial Data for the second quarter and six months ended June 30, 2016, made available by EPR Properties on August 3, 2016.
|
|
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|
|
|
EPR PROPERTIES
|
||
|
|
|
|
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By:
|
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/s/ Mark A. Peterson
|
|
|
|
Mark A. Peterson
|
|
|
|
Executive Vice President, Treasurer and Chief Financial
Officer
|
|
|
|
Exhibit
No.
|
|
Description
|
|
||
4.1
|
|
Note Purchase Agreement, dated as of August 1, 2016, by and among EPR Properties and the purchasers named therein.
|
|
|
|
99.1
|
|
Press Release dated August 3, 2016 issued by EPR Properties announcing its results of operations and financial condition for the second quarter and six months ended June 30, 2016.
|
|
|
|
99.2
|
|
Supplemental Operating and Financial Data for the second quarter and six months ended June 30, 2016, made available by EPR Properties on August 3, 2016.
|
|
|
|
|
Page
|
|
|
|
|
|
|
|
1.
|
Section 1. ..................................................................Authorization of Notes
|
1
|
|
||
2.
|
Section 2. .......................................Sale and Purchase of Notes; Guaranties
|
1
|
|
||
Section 2.1.
|
Sale and Purchase of Notes
|
1
|
|||
Section 2.2.
|
Guaranties
|
1
|
|||
3.
|
Section 3. ........................................................................Execution; Closing
|
2
|
|
||
4.
|
Section 4. ...................................................................Conditions to Closing
|
2
|
|
||
Section 4.1.
|
Representations and Warranties
|
2
|
|||
Section 4.2.
|
Performance; No Default
|
2
|
|||
Section 4.3.
|
Compliance Certificates
|
2
|
|||
Section 4.4.
|
Opinions of Counsel
|
3
|
|||
Section 4.5.
|
Purchase Permitted By Applicable Law, Etc
|
3
|
|||
Section 4.6.
|
Sale of Other Notes
|
3
|
|||
Section 4.7.
|
Payment of Special Counsel Fees
|
4
|
|||
Section 4.8.
|
Private Placement Numbers
|
4
|
|||
Section 4.9.
|
Changes in Corporate Structure; Change of Control
|
4
|
|||
Section 4.10.
|
Funding Instructions
|
4
|
|||
Section 4.11.
|
Subsidiary Guaranty Agreement
|
4
|
|||
Section 4.12.
|
Bank Credit Agreement
|
4
|
|||
Section 4.13.
|
Proceedings and Documents
|
4
|
|||
5.
|
Section 5. .........................Representations and Warranties of the Company
|
4
|
|
||
Section 5.1.
|
Organization; Power and Authority
|
4
|
|||
Section 5.2.
|
Authorization, Etc
|
5
|
|||
Section 5.3.
|
Disclosure
|
5
|
|||
Section 5.4.
|
Organization and Ownership of Shares of Subsidiaries; Affiliates
|
6
|
|||
Section 5.5.
|
Financial Statements; Material Liabilities
|
7
|
|||
Section 5.6.
|
Compliance with Laws, Other Instruments, Etc
|
7
|
|||
Section 5.7.
|
Governmental Authorizations, Etc
|
7
|
|||
Section 5.8.
|
Litigation; Observance of Agreements, Statutes and Orders
|
7
|
|||
Section 5.9.
|
Taxes
|
8
|
|||
Section 5.10.
|
Title to Property; Leases
|
8
|
|||
Section 5.11.
|
Licenses, Permits, Etc
|
9
|
|||
Section 5.12.
|
Compliance with Employee Benefit Plans
|
9
|
|||
Section 5.13.
|
Private Offering by the Company
|
10
|
|||
Section 5.14.
|
Use of Proceeds; Margin Regulations
|
10
|
|||
Section 5.15.
|
Existing Indebtedness; Future Liens
|
11
|
|||
Section 5.16.
|
Foreign Assets Control Regulations, Etc
|
11
|
|||
Section 5.17.
|
Status under Certain Statutes
|
12
|
|||
Section 5.18.
|
Environmental Matters
|
12
|
|||
Section 5.19.
|
Solvency
|
13
|
Section 5.20.
|
Unencumbered Pool
|
13
|
|||
6.
|
Section 6. ................................................Representations of the Purchasers
|
13
|
|
||
Section 6.1.
|
Purchase for Investment
|
13
|
|||
Section 6.2.
|
Accredited Investor
|
13
|
|||
Section 6.3.
|
Source of Funds
|
14
|
|||
7.
|
Section 7. ..........................................................Information as to Company
|
15
|
|
||
Section 7.1.
|
Financial and Business Information
|
15
|
|||
Section 7.2.
|
Officer’s Certificate
|
18
|
|||
Section 7.3.
|
Visitation
|
19
|
|||
Section 7.4.
|
Electronic Delivery
|
20
|
|||
8.
|
Section 8. .........................................Payment and Prepayment of the Notes
|
20
|
|
||
Section 8.1.
|
Maturity
|
21
|
|||
Section 8.2.
|
Optional Prepayments with Make-Whole Amount
|
21
|
|||
Section 8.3.
|
Allocation of Partial Prepayments
|
21
|
|||
Section 8.4.
|
Maturity; Surrender, Etc
|
21
|
|||
Section 8.5.
|
Purchase of Notes
|
21
|
|||
Section 8.6.
|
Make-Whole Amount
|
22
|
|||
Section 8.7.
|
Offer to Prepay Notes in the Event of a Change in Control
|
23
|
|||
Section 8.8.
|
Payments Due on Non-Business Days
|
26
|
|||
9.
|
Section 9. ..................................................................Affirmative Covenants
|
26
|
|
||
Section 9.1.
|
Compliance with Laws
|
26
|
|||
Section 9.2.
|
Insurance
|
26
|
|||
Section 9.3.
|
Maintenance of Properties
|
27
|
|||
Section 9.4.
|
Payment of Taxes and Claims
|
27
|
|||
Section 9.5.
|
Corporate Existence, Etc
|
27
|
|||
Section 9.6.
|
Books and Records
|
28
|
|||
Section 9.7.
|
REIT Status
|
28
|
|||
Section 9.8.
|
Exchange Listing
|
28
|
|||
Section 9.9.
|
Subsidiary Guarantors
|
28
|
|||
Section 9.10.
|
Most Favored Lender Provision
|
30
|
|||
10.
|
Section 10. ....................................................................Negative Covenants
|
30
|
|
||
Section 10.1.
|
Transactions with Affiliates
|
30
|
|||
Section 10.2.
|
Merger, Consolidation, Sales of Assets and Other Arrangements
|
31
|
|||
Section 10.3.
|
Line of Business
|
31
|
|||
Section 10.4.
|
Economic Sanctions, Etc
|
31
|
|||
Section 10.5.
|
Limitation on Liens
|
32
|
|||
Section 10.6.
|
Financial Covenants
|
32
|
|||
11.
|
Section 11. ........................................................................Events of Default
|
35
|
|
||
12.
|
Section 12. ...........................................................Remedies on Default, Etc
|
35
|
|
||
Section 12.1.
|
Acceleration
|
36
|
|
|
iii
|
|
|
iii
|
|
SCHEDULE A
|
—
|
Defined Terms
|
SCHEDULE 1(a)
|
—
|
Form of 4.35% Series A Guaranteed Senior Note due August 22, 2024
|
SCHEDULE 1(b)
|
—
|
Form of 4.56% Series B Guaranteed Senior Note due August 22, 2026
|
SCHEDULE 4.4(a)
|
—
|
Form of Opinion of Special Counsel for the Company and the Subsidiary Guarantors
|
SCHEDULE 4.4(b)
|
—
|
Form of Opinion of Special Counsel for the Purchasers
|
SCHEDULE 5.3
|
—
|
Disclosure Materials
|
SCHEDULE 5.4
|
—
|
Subsidiaries of the Company and Ownership of Subsidiary Stock
|
SCHEDULE 5.5
|
—
|
Financial Statements
|
SCHEDULE 5.10
|
—
|
Real Properties
|
SCHEDULE 5.15
|
—
|
Existing Indebtedness
|
PURCHASER SCHEDULE
|
—
|
Information Relating to Purchasers
|
EXHIBIT 9.9(a)(2)(ii)
|
—
|
Form of Officer’s Certificate of a New Subsidiary Guarantor
|
EXHIBIT ERE
|
—
|
Eligible Real Estate Representations
|
EXHIBIT SGA
|
—
|
Form of Subsidiary Guaranty Agreement
|
Section 1.
|
AUTHORIZATION OF NOTES
.
|
SECTION 2.
|
SALE AND PURCHASE OF NOTES; GUARANTIES
.
|
SECTION 3.
|
EXECUTION; CLOSING
.
|
SECTION 4.
|
CONDITIONS TO CLOSING
.
|
SECTION 5.
|
REPRESENTATIONS AND WARRANTIES OF THE COMPANY
.
|
SECTION 6.
|
REPRESENTATIONS OF THE PURCHASERS
.
|
SECTION 7.
|
INFORMATION AS TO COMPANY
|
SECTION 8.
|
PAYMENT AND PREPAYMENT OF THE NOTES
.
|
SECTION 9.
|
AFFIRMATIVE COVENANTS
.
|
SECTION 10.
|
NEGATIVE COVENANTS
.
|
SECTION 11.
|
EVENTS OF DEFAULT
.
|
SECTION 12.
|
REMEDIES ON DEFAULT, ETC
.
|
SECTION 13.
|
REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES
.
|
SECTION 14.
|
PAYMENTS ON NOTES
.
|
SECTION 15.
|
EXPENSES, ETC
.
|
SECTION 16.
|
SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT
.
|
SECTION 17.
|
AMENDMENT AND WAIVER
.
|
SECTION 18.
|
NOTICES
.
|
SECTION 19.
|
REPRODUCTION OF DOCUMENTS
.
|
SECTION 20.
|
CONFIDENTIAL INFORMATION
.
|
SECTION 21.
|
SUBSTITUTION OF PURCHASER
.
|
SECTION 22.
|
MISCELLANEOUS
.
|
By:
|
Guggenheim Partners Investment Management, LLC, as investment manager
|
By:
|
Conning, Inc., as Investment Manager
|
By:
|
_/s/ David R. Miller_
____________________
|
By:
|
Conning, Inc., as Investment Manager
|
By:
|
_/s/ David R. Miller_
____________________
|
By:
|
Conning, Inc., as Investment Manager
|
By:
|
_/s/ David R. Miller_
____________________
|
By:
|
Conning, Inc., as Investment Manager
|
By:
|
_/s/ David R. Miller_
____________________
|
(2)
|
the Series A Notes, dated the date hereof, issued to the Purchasers and in the amounts described in Part A of Schedule 2 hereto (collectively, the "
Series A Notes
");
|
(3)
|
the Series B Notes, dated the date hereof, issued to the Purchasers and in the amounts described in Part B of Schedule 2 hereto (collectively, the "
Series B Notes
" and, together with the Series A Notes, the "
Notes
");
|
(4)
|
the Subsidiary Guaranty Agreement, dated as of the date hereof, from the Subsidiary Guarantors in favor of the Holders referred to therein (the "
Subsidiary Guaranty Agreement
");
|
(5)
|
with respect to each Loan Party, a copy of its declaration of trust, articles or certificate of incorporation, articles or certificate of organization, articles or certificate of partnership or similar formation document, as the case may be, as recently certified to us by the secretary of state or comparable state official of such Loan Party's state of organization or by an officer or other authorized representative of such Loan Party as being a true and
|
August ___, 2016
|
|
|
|
(6)
|
with respect to each Loan Party, a copy of its trust agreement, by-laws, operating agreement, partnership agreement or similar constituent agreement, as the case may be, as certified to us by an officer or other duly authorized representative of such Loan Party as being a true and complete copy thereof, including any amendments or other modifications thereof, as of the date hereof (together with such Loan Party's Articles, its "
Organizational Documents
");
|
(7)
|
with respect to each Loan Party, a copy of the consent or similar authorizing resolutions of its board of trustees, board of directors, board of managers, members, limited partner or similar governing body, as the case may be, with respect to such Loan Party's authority to enter into and to perform its obligations under the Loan Documents (as defined below) to which it is a party;
|
(8)
|
with respect to each Loan Party, a certificate of good standing, certificate of existence, certificate of authority or similar certificate, as the case may be, issued by the secretary of state or comparable state official of such Loan Party's state of organization (with respect to such Loan Party, its "
Good Standing Certificate
"); and
|
(9)
|
such other certificates of officers or representatives of the Loan Parties, agreements, documents, decrees, orders, records and papers as we have deemed relevant or necessary as a basis for certain opinions and confirmations set forth herein.
|
August ___, 2016
|
|
|
|
August ___, 2016
|
|
|
|
August ___, 2016
|
|
|
|
August ___, 2016
|
|
|
|
August ___, 2016
|
|
|
|
August ___, 2016
|
|
|
|
(i)
|
Company's subsidiaries and affiliates
(* indicates Subsidiary Guarantor)
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
30 West Pershing, LLC
|
Alamo Draft House - Lakeline
|
Lakeline, TX
|
Alamo Draft House
|
No
|
30 West Pershing, LLC
|
Carmike Theater Champaign
|
Champaign, IL
|
Carmike
|
No
|
30 West Pershing, LLC
|
Carmike Theater Opelika
|
Opelika
|
Carmike
|
No
|
30 West Pershing, LLC
|
Columbia Mall 14
|
Columbia, MD
|
AMC
|
No
|
30 West Pershing, LLC
|
Frank Theater Ranson
|
Ranson, WV
|
Frank Theaters LLC
|
No
|
30 West Pershing, LLC
|
Frank Theater Southern Pines
|
Southern Pines, NC
|
Frank Theaters LLC
|
No
|
30 West Pershing, LLC
|
Glendora 12
|
Glendora, CA
|
AMC
|
No
|
30 West Pershing, LLC
|
Grand Prairie 18
|
Peoria, IL
|
Carmike
|
No
|
30 West Pershing, LLC
|
Greensboro Grand 18
|
Greensboro, NC
|
Southern
|
No
|
30 West Pershing, LLC
|
Harbour View Market Place
|
Suffolk, VA
|
Regal & Other Retail
|
No
|
30 West Pershing, LLC
|
Cinemagic Hooksett IMAX 15
|
Hooksett, NH
|
Cinemagic
|
No
|
30 West Pershing, LLC
|
John Hancock Observatory
|
Chicago, IL
|
Montparnasse
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
30 West Pershing, LLC
|
Kalispell 14
|
Kalispell, MT
|
Cinemark
|
No
|
30 West Pershing, LLC
|
family entertainment center building
|
Jacksonville, FL
|
vacant
|
No
|
30 West Pershing, LLC
|
family entertainment center building
|
Indianapolis, IN
|
vacant
|
No
|
30 West Pershing, LLC
|
Look Theater Prestonwood
|
Dallas, TX
|
Look Cinemas
|
No
|
30 West Pershing, LLC
|
Panama City Beach Grand 16
|
Panama City, FL
|
Southern
|
No
|
30 West Pershing, LLC
|
Pinstripes Bowling & Bocce
|
Northbrook, IL
|
Pinstripes
|
No
|
30 West Pershing, LLC
|
Pinstripes Bowling & Bocce
|
Oakbrook, IL
|
Pinstripes
|
No
|
30 West Pershing, LLC
|
Regal VA Gateway
|
Gainesville, VA
|
Regal
|
No
|
30 West Pershing, LLC
|
Regal Winrock
|
Albuquerque, NM
|
Regal
|
No
|
30 West Pershing, LLC
|
Cinemagic Saco IMAX 13
|
Saco, ME
|
Cinemagic
|
No
|
30 West Pershing, LLC
|
Star Southfield Center
|
Southfield, MI
|
AMC & Other Retail
|
No
|
30 West Pershing, LLC
|
Top Golf Allen
|
Allen, TX
|
Top Golf
|
No
|
30 West Pershing, LLC
|
Top Golf Alpharetta
|
Alpharetta, GA
|
Top Golf
|
No
|
30 West Pershing, LLC
|
Top Golf Austin
|
Austin, TX
|
Top Golf
|
No
|
30 West Pershing, LLC
|
Top Golf Colony
|
Colony, TX
|
Top Golf
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
30 West Pershing, LLC
|
Top Golf Dallas
|
Dallas, TX
|
Top Golf
|
No
|
30 West Pershing, LLC
|
Top Golf Gilbert
|
Gilbert, AZ
|
Top Golf
|
No
|
30 West Pershing, LLC
|
Top Golf Houston
|
Houston, TX
|
Top Golf
|
No
|
30 West Pershing, LLC
|
Top Golf Scottsdale
|
Scottsdale, AZ
|
Top Golf
|
No
|
30 West Pershing, LLC
|
Top Golf Spring
|
Spring, TX
|
Top Golf
|
No
|
30 West Pershing, LLC
|
Top Golf Tampa
|
Tampa, FL
|
Top Golf
|
No
|
30 West Pershing, LLC
|
Cinemagic Westbrook 16
|
Westbrook, ME
|
Cinemagic
|
No
|
30 West Pershing, LLC
|
White Oak 14
|
Garner, NC
|
Regal
|
No
|
30 West Pershing, LLC
|
Winston Salem Grand 18
|
Winston-Salem, NC
|
Southern
|
No
|
30 West Pershing, LLC
|
Top Golf San Antonio
|
San Antonio, TX
|
Misc
|
No
|
30 West Pershing, LLC
|
Strawbridge - Virginia Beach
|
Virginia Beach, VA
|
Regal
|
No
|
30 West Pershing, LLC
|
Carmike Yulee
|
Yulee, FL
|
Carmike
|
No
|
30 West Pershing, LLC
|
MJR Sterling Heights
|
Sterling Heights, MI
|
MJR Theatres
|
No
|
30 West Pershing, LLC
|
The Ambassador Theatre
|
Lafayette, LA
|
Southern
|
Go to the Show bonds; $14,360,000
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
30 West Pershing, LLC
|
New Iberia Theatre
|
New Iberia, LA
|
Southern
|
(same Go to the Show bonds as above for Lafayette, LA)
|
30 West Pershing, LLC
|
Bedford Theatre 7
|
Bedford, IN
|
Regal
|
Wells Fargo; $1,459,104.35
|
30 West Pershing, LLC
|
Seymour Stadium 8
|
Seymour, IN
|
Regal
|
Wells Fargo; $2,477,197.10
|
30 West Pershing, LLC
|
Wilder Stadium 14
|
Wilder, KY
|
Regal
|
Wells Fargo; $9,055,692.92
|
30 West Pershing, LLC
|
Bowling Green Stadium 12
|
Bowling Green, KY
|
Regal
|
Wells Fargo; $8,512,266.51
|
30 West Pershing, LLC
|
New Albany Stadium 12
|
New Albany, IN
|
Regal
|
Wells Fargo; $12,807,284.90
|
30 West Pershing, LLC
|
Clarksville Stadium 16
|
Clarksville, TN
|
Regal
|
Wells Fargo; $15,234,350.87
|
30 West Pershing, LLC
|
Lycoming Mall 12
|
Williamsport, PA
|
Regal
|
Wells Fargo; $6,613,765.01
|
30 West Pershing, LLC
|
Noblesville Stadium 10
|
Noblesville, IN
|
Regal
|
Wells Fargo; $6,189,396.67
|
30 West Pershing, LLC
|
Moline Stadium 14
|
Moline, IL
|
Regal
|
Wells Fargo; $9,025,600.52
|
30 West Pershing, LLC
|
O'Fallon Stadium 14
|
O'Fallon, MO
|
Regal
|
Wells Fargo; $6,224,737.39
|
30 West Pershing, LLC
|
McDonough Stadium 16
|
McDonough, GA
|
Regal
|
Wells Fargo; $14,142,923.21
|
30 West Pershing, LLC
|
Alamo Draft House – Mission
|
San Francisco, CA
|
Alamo Draft House
|
No
|
30 West Pershing, LLC
|
Alamo Draft House – Laredo
|
Laredo, TX
|
Alamo Draft House
|
No
|
30 West Pershing, LLC
|
Regency 24
|
Jacksonville, FL
|
AMC
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
30 West Pershing, LLC
|
Wynnsong 16
|
Mobile, AL
|
Carmike
|
No
|
30 West Pershing, LLC
|
Thoroughbred 20
|
Franklin, TN
|
Carmike
|
No
|
30 West Pershing, LLC
|
Carmike 16
|
El Paso, TX
|
Carmike
|
No
|
30 West Pershing, LLC
|
Edinburg 20
|
Edinburg, TX
|
Carmike
|
No
|
30 West Pershing, LLC
|
Kennewick 12
|
Kennewick, WA
|
Carmike
|
No
|
30 West Pershing, LLC
|
Delmont 12
|
Delmont, PA
|
Carmike
|
No
|
30 West Pershing, LLC
|
Hollywood 16 Theatre
|
Tuscaloosa, AL
|
Cobb
|
No
|
30 West Pershing, LLC
|
Regal Crystal Lake 16
|
Crystal Lake, IL
|
Regal
|
No
|
30 West Pershing, LLC
|
Southern Juban Crossing
|
Denham Springs, LA
|
Southern
|
No
|
30 West Pershing, LLC
|
Andretti Karting
|
Marietta, GA
|
AIKG
|
No
|
30 West Pershing, LLC
|
Punch Bowl Social
|
Schaumburg, IL
|
PBS
|
No
|
30 West Pershing, LLC
|
Lynbrook Theatre
|
Lynbrook, NY
|
Regal
|
No
|
30 West Pershing, LLC
|
Alamo Draft House – Corpus Christi
|
Corpus Christi, TX
|
Alamo Draft House
|
No
|
30 West Pershing, LLC
|
Punch Bowl Social – Stapleton
|
Stapleton, CO
|
PBS
|
No
|
30 West Pershing, LLC
|
Top Golf Dulles
|
Ashburn, VA
|
Top Golf
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
Burbank Village, L.P.
|
Burbank Village
|
Burbank, CA
|
AMC & Other Retail
|
No
|
Cantera 30 Theatre, L.P.
|
Cantera Stadium 17
|
Warrenville, IL
|
Regal
|
No
|
ECE I, LLC
|
CLA-Coppell, TX
|
Coppell, TX
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Durango Drive
|
Las Vegas, NV
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Goodyear, AZ
|
Goodyear, AZ
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Lake Pleasant
|
Lake Pleasant, AZ
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Oklahoma
|
Oklahoma City, OK
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Crimson
|
Mesa, AZ
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Ann Road
|
Las Vegas, NV
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Cedar Park
|
Cedar Park, TX
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Centennial
|
Centennial, CO
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Gilbert
|
Gilbert, AZ
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-McKinney
|
McKinney, TX
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Thornton
|
Thornton, CO
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Flower Mound TX
|
Flower Mound, TX
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Broomfield CO
|
Broomfield, CO
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-One Loundon
|
Ashburn, VA
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-West Chester OH
|
West Chester, OH
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Deerfield OH
|
Deerfield, OH
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Ellisville MO
|
Ellisville, MO
|
CLA Properties
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
ECE I, LLC
|
CLA-Chanhassen MN
|
Chanhassen, MN
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Maple Grove
|
Maple Grove, MN
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Farm Rd (Vegas)
|
Las Vegas, NV
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Westerville OH
|
Westerville, OH
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Fishers IN
|
Fishers, IN
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-Carmel IN
|
Carmel, IN
|
CLA Properties
|
No
|
ECE I, LLC
|
CLA-King of Prussia
|
Philadelphia, PA
|
CLA Properties
|
No
|
ECE II, LLC
|
Gardner School
|
Lincoln Park, IL
|
TGS Holdings, LLC
|
No
|
Education Capital Solutions, LLC
|
100 Academy of Excellence
|
Las Vegas, NV
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Academy of Columbus
|
Columbus, OH
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Academy of Environmental Science & Math
|
St. Louis, MO
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Bella Mente Academy
|
Vista, CA
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
BeLoved Academy
|
Jersey City, NJ
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
BFCS-Crismon Campus
|
Queen Creek, AZ
|
LBE Investments
|
No
|
Education Capital Solutions, LLC
|
BFCS-Gilbert Campus
|
Gilbert, AZ
|
LBE Investments
|
No
|
Education Capital Solutions, LLC
|
BFCS-Power Campus
|
Queen Creek, AZ
|
LBE Investments
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
Education Capital Solutions, LLC
|
BFCS-Queen Creek HS/MS
|
Queen Creek, AZ
|
LBE Investments
|
No
|
Education Capital Solutions, LLC
|
Camden Community Charter School
|
Camden, NJ
|
CSMI
|
No
|
Education Capital Solutions, LLC
|
Chester Community Charter School
|
Upland, PA
|
CSMI
|
No
|
Education Capital Solutions, LLC
|
Columbia Leadership
|
Columbia, SC
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Desert West
|
Phoenix, AZ
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
East Mesa
|
Mesa, AZ
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Global Village Academy
|
Colorado Springs, CO
|
GVA
|
No
|
Education Capital Solutions, LLC
|
Groveport Community School
|
Groveport, OH
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Groveport Prep
|
Groveport, OH
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Harvard Avenue CS
|
Cleveland, OH
|
Harvard Avenue Community School
|
No
|
Education Capital Solutions, LLC
|
Hope Community
|
Washington, DC
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
ILSA-E
|
Indianapolis, IN
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
ILSA-W
|
Indianapolis, IN
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Imagine Academy at Sullivant
|
Columbus, OH
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Imagine Klepinger Community School
|
Dayton, OH
|
Imagine
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
Education Capital Solutions, LLC
|
Imagine Madison Avenue
|
Toledo, OH
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
International Academy of Mableton
|
Mableton, GA
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Learning Foundation Academy
|
Gilbert, AZ
|
CAFA
|
No
|
Education Capital Solutions, LLC
|
Lowcountry Leadership Academy
|
Hollywood, SC
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
MASTer Academy
|
Ft. Wayne, IN
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
McKinley Academy
|
Chicago, IL
|
Concept Schools
|
No
|
Education Capital Solutions, LLC
|
North East Carolina Prep
|
Tarboro, NC
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
Odyssey Buckeye
|
Buckeye, AZ
|
PCI
|
No
|
Education Capital Solutions, LLC
|
Pacific Heritage Academy
|
Salt Lake City, UT
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
Queen Creek
|
Queen Creek, AZ
|
PCI
|
No
|
Education Capital Solutions, LLC
|
Romig Road Community School
|
Akron, OH
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Rosefield
|
Surprise , AZ
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Skyline Chandler
|
Chandler, AZ
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
Skyline Phoenix
|
Phoenix, AZ
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
UME School
|
Dallas, TX
|
Highmark
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
Education Capital Solutions, LLC
|
Valley Arts Academy
|
Hurricane, UT
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
Wesley International Academy
|
Atlanta, GA
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
The American Leadership Academy
|
Gilbert, AZ
|
American Leadership Academy
|
No
|
Education Capital Solutions, LLC
|
Champion School
|
Phoenix, AZ
|
Phoenix Charter Properties
|
No
|
Education Capital Solutions, LLC
|
Bradley Academy of Excellence
|
Goodyear, AZ
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Loveland Classical School
|
Loveland, CO
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Prospect Ridge Academy
|
Broomfield, CO
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Harrisburg Pike Community
|
Columbus, OH
|
Imagine
|
No
|
Education Capital Solutions, LLC
|
Wilson Prep Academy
|
Wilson, NC
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
North Carolina Leadership Academy
|
Kernersville, NC
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
Global Village Academy-Fort Collins
|
Fort Collins, CO
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
iLEAD Charter School
|
Mesa, AZ
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
John Adams Academy (Lincoln)
|
Chicago, IL
|
Highmark
|
No
|
Education Capital Solutions, LLC
|
Bradford Prep
|
Charlotte, NC
|
Bradford Charter Holdings, LLC
|
No
|
Education Capital Solutions, LLC
|
Minnesota Math & Science Academy
|
St. Paul, MN
|
Concept Schools
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
Education Capital Solutions, LLC
|
Horizon Science Academy South Chicago
|
Chicago, IL
|
Concept Schools
|
No
|
Education Capital Solutions, LLC
|
Franklin Academy Palm Beach
|
Palm Beach, FL
|
Discovery Schools
|
No
|
Education Capital Solutions, LLC
|
Impact Charter Elementary
|
Baker, LA
|
ICE Project Development LLC
|
No
|
Education Capital Solutions, LLC
|
American International School of Utah
|
Salt Lake City, UT
|
Schoolhouse Galleria, LLC
|
No
|
Education Capital Solutions, LLC
|
Champion/Fit Kids
|
Chandler, AZ
|
ACD
|
No
|
Education Capital Solutions, LLC
|
Bridgeton Charter
|
Bridgeton, NJ
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Cirrus Academy
|
Macon, GA
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
DuBois School of Arts and Technology
|
Memphis, TN
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Fulton Leadership Academy
|
East Point, GA
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
GVA-Douglas
|
Parker, CO
|
GVA
|
No
|
Education Capital Solutions, LLC
|
Lowcountry Montessori
|
Port Royal, SC
|
ACD
|
No
|
Education Capital Solutions, LLC
|
Macon Charter Academy
|
Macon, GA
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Phoenix Academy High School
|
High Point, NC
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Phoenix Academy II
|
High Point, NC
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Pineapple Cove
|
Palm Bay, FL
|
HighMark
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
Education Capital Solutions, LLC
|
Riverwalk Academy
|
Rock Hill, SC
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
HM-GVI Lafayette CO
|
Denver, CO
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
HM-GVI Parker CO
|
Denver, CO
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
HM-GVI Littleton CO
|
Denver, CO
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
HM-GVI Lakewood CO
|
Denver, CO
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
HM-GVI Castle Rock CO
|
Denver, CO
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
HM-GVI Arvada CO
|
Denver, CO
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
LePort-Emeryville CA
|
Emeryville, CA
|
LePort
|
No
|
Education Capital Solutions, LLC
|
Nobel-Kelly Mill Rd GA
|
Atlanta, GA
|
Nobel
|
No
|
Education Capital Solutions, LLC
|
Nobel-Majors Rd GA
|
Atlanta
|
Nobel
|
No
|
Education Capital Solutions, LLC
|
CSMI-Galloway NJ
|
Galloway, NJ
|
CSMI
|
No
|
Education Capital Solutions, LLC
|
DuBois Hacks Cross TN HM
|
Memphis, TN
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
HM-FLACS (Bronx)
|
Bronx, NY
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
HM-Great Lakes Explorations Academy (Kalamazoo)
|
Kalamazoo, MI
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
HM-International Academy of Trenton
|
Trenton, NJ
|
HighMark
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
Education Capital Solutions, LLC
|
HM-Parker Performing Arts (Parker)
|
Parker, CO
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
iLEAD Spring Meadows
|
Holland, OH
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Vineland Charter (Vineland)
|
Vineland, NJ
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Basis Nova McLean VA
|
McLean, VA
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Basis Private San Jose
|
San Jose, CA
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
Basis Private Brooklyn
|
Brooklyn, NY
|
HighMark
|
No
|
Education Capital Solutions, LLC
|
British School of Chicago
|
Chicago, IL
|
BSA
|
No
|
Education Capital Solutions, LLC
|
Fulton land parcel
|
East Point, GA
|
vacant
|
No
|
EPR Concord II, LP
|
Adelaar Resort and outlying parcels (excluding casino land)
|
Sullivan County, NY
|
TBD
|
No
|
EPR Hialeah, Inc.
|
Hialeah 18
|
Hialeah, FL
|
Cobb
|
No
|
EPR Karting, LLC
|
Andretti Karting – Orlando
|
Orlando, FL
|
AIKG
|
No
|
EPR North US LP
|
Conroe Grand 14
|
Conroe, TX
|
Southern
|
No
|
EPT 909, Inc.
|
Tinseltown, USA
|
Beaumont, TX
|
Cinemark
|
No
|
EPT 909, Inc.
|
Tinseltown, USA
|
Colorado Springs, CO
|
Cinemark
|
No
|
EPT 909, Inc.
|
Tinseltown, USA
|
El Paso, TX
|
Cinemark
|
No
|
EPT 909, Inc.
|
Movies 17
|
Grand Prairie, TX
|
Cinemark
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
EPT 909, Inc.
|
Tinseltown, USA
|
Houston, TX
|
Cinemark
|
No
|
EPT 909, Inc.
|
Movies 14
|
McKinney, TX
|
Cinemark
|
No
|
EPT 909, Inc.
|
Movies 10
|
Mishawaka, IN
|
Cinemark
|
No
|
EPT 909, Inc.
|
Hollywood, USA
|
Pasadena, TX
|
Cinemark
|
No
|
EPT 909, Inc.
|
Tinseltown, USA
|
Pflugerville, TX
|
Cinemark
|
No
|
EPT 909, Inc.
|
Movies 10
|
Plano, TX
|
Cinemark
|
No
|
EPT 909, Inc.
|
Movies 14
|
Redding, CA
|
Cinemark
|
No
|
EPT 909, Inc.
|
Tinseltown, USA
|
Pueblo, CO
|
Cinemark
|
No
|
EPT Aliso Viejo, Inc.
|
Aliso Viejo 20
|
Aliso Viejo, CA
|
Regal
|
No
|
EPT Arroyo, Inc.
|
Arroyo Grande Stadium 10
|
Arroyo Grande, CA
|
Regal
|
Goldman Sachs; $4,002,921.33
|
EPT Auburn, Inc.
|
Auburn Stadium 10
|
Auburn, CA
|
Regal
|
Bear Stearns; $5,193,467.92
|
EPT Biloxi, Inc.
|
The Grand 18
|
D'Iberville, MS
|
Southern
|
Bear Stearns; $8,795,278.07
|
EPT Boise, Inc.
|
Boise Stadium 21
|
Boise, ID
|
Regal
|
No
|
EPT Chattanooga, Inc.
|
East Ridge 18
|
Chattanooga, TN
|
Carmike
|
Bear Stearns; $10,183,861.74
|
EPT Columbiana, Inc.
|
Columbiana Grande 14
|
Columbia, SC
|
Regal
|
Bear Stearns; $6,562,654.92
|
EPT Concord II, LLC
|
Concord Resort
|
Sullivan County, NY
|
TBD
|
No
|
EPT Concord II, LLC
|
Adelaar casino land
|
Sullivan County, NY
|
TBD
|
No
|
EPT Dallas, LLC
|
Grand 24
|
Dallas, TX
|
Studio Movie Grill & Other Retail
|
No
|
EPT Davie, Inc.
|
Paradise 24
|
Davie, FL
|
Cinemark
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
EPT Deer Valley, Inc.
|
Deer Valley 30
|
Phoenix, AZ
|
AMC
|
No
|
EPT DownREIT II, Inc.
|
Houston Studio 30
|
Houston, TX
|
AMC
|
No
|
EPT DownREIT II, Inc.
|
Huebner Oaks
|
San Antonio, TX
|
Regal
|
No
|
EPT DownREIT II, Inc.
|
Lennox 24
|
Columbus, OH
|
AMC
|
No
|
EPT DownREIT II, Inc.
|
Mission Valley 20
|
San Diego, CA
|
AMC
|
No
|
EPT DownREIT II, Inc.
|
Ontario Mills 30
|
Ontario, CA
|
AMC
|
No
|
EPT DownREIT II, Inc.
|
West Olive 16
|
Creve Coeur, MO
|
AMC
|
No
|
EPT Firewheel, Inc.
|
Firewheel 18
|
Garland, TX
|
AMC
|
Bear Stearns; $12,817,201.28
|
EPT First Colony, Inc.
|
First Colony 24
|
Sugar Land, TX
|
AMC
|
Bear Stearns; $14,785,347.42
|
EPT Fontana, LLC
|
Mentorship Academy of Digital Arts
|
Baton Rouge, LA
|
Charter School Development Co
|
No
|
EPT Fresno, Inc. /
EPT Manchester, Inc. |
Manchester Stadium 16
|
Fresno, CA
|
Regal
|
Goldman Sachs; $9,501,332.07
|
EPT Gulf Pointe, Inc.
|
Gulf Pointe 30
|
Houston, TX
|
AMC
|
No
|
EPT Hamilton, Inc.
|
Hamilton 24
|
Hamilton, NJ
|
AMC
|
No
|
EPT Hattiesburg, Inc.
|
The Grand 18
|
Hattiesburg, MS
|
Southern
|
KeyBank; $8,323,932.14
|
EPT Huntsville, Inc.
|
Valley Bend 18
|
Huntsville, AL
|
Carmike
|
No
|
EPT Hurst, Inc.
|
North East Mall 18
|
Hurst, TX
|
Cinemark
|
No
|
EPT Indianapolis, Inc.
|
Washington Square 12
|
Indianapolis, IN
|
AMC
|
Key Bank; $4,101,938.31
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
EPT Kalamazoo, Inc.
|
Cityplace 14
|
Kalamazoo, MI
|
Alamo Draft House
|
No
|
EPT Lafayette, Inc.
|
Lafayette Grand 16
|
Lafayette, LA
|
Southern
|
Goldman Sachs; $7,268,049.10
|
EPT Lawrence, Inc.
|
Southwind 12
|
Lawrence, KS
|
Regal
|
Key Bank; $3,841,814.27
|
EPT Leawood, Inc.
|
Leawood Town Center 20
|
Leawood, KS
|
AMC
|
Bear Stearns; $12,357,492.26
|
EPT Little Rock, Inc.
|
Colonel Glenn 18
|
Little Rock, AR
|
Cinemark
|
No
|
EPT Macon, Inc.
|
Macon Cinema 16
|
Macon, GA
|
Southern
|
Goldman Sachs; $5,164,553.76
|
EPT Mad River, Inc.
|
Mad River Mountain
|
Zanesville, OH
|
Peak Resorts
|
No
|
EPT Melbourne, Inc.
|
Avenue 16
|
Melbourne, FL
|
Carmike
|
No
|
EPT Mesa, Inc.
|
Mesa 24
|
Mesa, AZ
|
AMC
|
No
|
EPT Mesquite, Inc.
|
Mesquite 30
|
Mesquite, TX
|
AMC
|
No
|
EPT Modesto, Inc.
|
Modesto Stadium 10
|
Modesto, CA
|
Regal
|
Bear Stearns; $3,887,232.55
|
EPT Mount Snow, Inc.
|
Mount Snow
|
West Dover, VT
|
Peak Resorts
|
No
|
EPT New England, LLC
|
Merrimack 12
|
Merrimack, NH
|
Cinemagic
|
KeyBank; $3,377,219.07
|
EPT Nineteen, Inc.
|
Ann Arbor
|
Ypsilanti, MI
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
Buckland Hills
|
Manchester, CT
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
Centreville 12
|
Centreville, VA
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
Davenport 18
|
Davenport, IA
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
Fairfax Corner
|
Fairfax, VA
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
Flint West 14
|
Flint, MI
|
Cinemark
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
EPT Nineteen, Inc.
|
Hazlet 12
|
Hazlet , NJ
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
Huber Heights 16
|
Huber Heights, OH
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
North Haven 12
|
North Haven, CT
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
Preston Crossings 16
|
Okolona, KY
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
Ritz Center 16
|
Voorhees, NJ
|
Carmike
|
No
|
EPT Nineteen, Inc.
|
Stonybrook 20
|
Louisville, KY
|
Carmike
|
No
|
EPT Nineteen, Inc.
|
The Greene 14
|
Beaver Creek, OH
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
West Springfield 15
|
West Springfield, MA
|
Cinemark
|
No
|
EPT Nineteen, Inc.
|
Western Hills 14
|
Cincinnati, OH
|
Cinemark
|
No
|
EPT Oakview, Inc.
|
Oakview Plaza 24
|
Omaha, NE
|
AMC
|
No
|
EPT Pensacola, Inc.
|
Bayou 15
|
Pensacola, FL
|
Carmike
|
No
|
EPT Pompano, Inc.
|
Pompano 18
|
Pompano Beach, FL
|
Carmike
|
No
|
EPT Raleigh Theatres, Inc.
|
Raleigh 16
|
Raleigh, NC
|
Cinemark
|
No
|
EPT Ski Properties, Inc.
|
Boston Mills/Brandywine
|
Peninsula, OH
|
Peak Resorts
|
No
|
EPT Ski Properties, Inc.
|
Jack Frost/Big Boulder
|
Blakeslee, PA
|
Peak Resorts
|
No
|
EPT Ski Properties, Inc.
|
Wintergreen Ski Resort
|
Wintergreen, VA
|
Pacific Group Resorts
|
No
|
EPT Ski Properties, Inc.
|
Alpine Valley
|
Chesterland, OH
|
Peak Resorts
|
No
|
EPT Ski Properties, Inc.
|
WISP Resort
|
McHenry, MD
|
Everbright Pacific
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
EPT Ski Properties, Inc.
|
Camelback Resort
|
Tannersville, PA
|
CBH20 & CBK Lodge
|
No
|
EPT Ski Properties, Inc.
|
Hunter Mountain
|
Hunter, NY
|
Peak Resorts
|
No
|
EPT Slidell, Inc.
|
Slidell Grand 16
|
Slidell, LA
|
Southern
|
EPT Slidell, Inc. Project Series 2007B (Go Zone) bonds; $10,635,000
|
EPT South Barrington, Inc.
|
South Barrington
|
Barrington, IL
|
AMC
|
No
|
EPT Twin Falls, LLC
|
Cinema West Twin Falls
|
Twin Falls, ID
|
Cinema West
|
No
|
EPT Virginia Beach, Inc.
|
Beach Cinema Bistro
|
Virginia Beach, CA
|
Beach Cinema Bistro
|
No
|
EPT Waterparks, Inc.
|
Schlitterbahn Vacation Village
|
Kansas City, KS
|
Schlitterbahn
|
No
|
EPT Waterparks, Inc.
|
Schlitterbahn Vacation Village
|
New Braunfels, TX
|
Schlitterbahn
|
No
|
EPT Waterparks, Inc.
|
Schlitterbahn Vacation Village
|
South Padre, TX
|
Schlitterbahn
|
No
|
EPT Wilmington, Inc.
|
Mayfaire 16
|
Wilmington, NC
|
Regal
|
Bear Stearns; $6,192,818.05
|
Flik, Inc.
|
Clearview
|
Metairie, LA
|
AMC
|
No
|
Flik, Inc.
|
Elmwood
|
Harahan, LA
|
AMC
|
No
|
Flik, Inc.
|
Forum
|
Sterling Heights, MI
|
AMC
|
No
|
Flik, Inc.
|
Hammond
|
Hammond, LA
|
AMC
|
No
|
Flik, Inc.
|
Hoffman
|
Alexandria, VA
|
AMC
|
No
|
Flik, Inc.
|
Houma
|
Houma, LA
|
AMC
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
Flik, Inc.
|
Livonia
|
Livonia, MI
|
AMC
|
No
|
Flik, Inc.
|
Olathe Studio
|
Olathe, KS
|
AMC
|
No
|
Flik, Inc.
|
Palm Promenade
|
San Diego, CA
|
AMC
|
No
|
Flik, Inc.
|
Westbank
|
Harvey, LA
|
AMC
|
No
|
Flik, Inc.
|
Woodridge
|
Woodridge, IL
|
AMC
|
No
|
Flik, Inc.
|
Starlight 20
|
Tampa, FL
|
Carmike
|
No
|
Flik, Inc.
|
Cherrydale 16
|
Greenville, SC
|
Regal & Other Retail
|
No
|
Flik, Inc.
|
Crossroads 20
|
Cary, NC
|
Regal
|
No
|
Flik, Inc.
|
Woodridge land parcel
|
Woodridge, IL
|
vacant
|
No
|
Kanata Entertainment Holdings Inc. (as nominee for EPR North Properties LP)
|
Kanata Centrum
|
Kanata, ON
|
Landmark of Canada
|
No
|
Megaplex Four, Inc.
|
Cantera Retail
|
Warrenville, IL
|
Other Retail
|
No
|
Megaplex Four, Inc.
|
Gulf Pointe Retail
|
Houston, TX
|
Other Retail
|
No
|
Megaplex Four, Inc.
|
Mesquite Retail
|
Dallas, TX
|
Other Retail
|
No
|
Megaplex Four, Inc.
|
Powder Springs Retail
|
Austell, GA
|
Other Retail
|
No
|
Megaplex Nine, Inc.
|
Hampton Town Center 24
|
Hampton, VA
|
AMC
|
No
|
Mississauga Entertainment Holdings Inc. (as nominee for EPR North Properties LP)
|
Mississauga Centrum
|
Mississauga, ON
|
Cineplex
|
No
|
New Roc Associates, LP
|
New Roc Center
|
New Rochelle, NY
|
Regal & Other Retail
|
No
|
Entity
|
Name
|
Location
|
Operator/Tenant
|
Secured Indebtedness/
Original Lender/ Amount
1
|
Oakville Entertainment Holdings Inc. (as nominee for EPR North Properties LP)
|
Oakville Centrum
|
Oakville, ON
|
Cineplex
|
No
|
Tampa Veterans 24, LP
|
Tampa Veterans 24
|
Tampa, FL
|
AMC
|
No
|
Westcol Center, LLC
|
Westminster & Westcol Retail
|
Westminster, CO
|
AMC & Other Retail
|
No
|
Whitby Entertainment Holdings Inc. (as nominee for EPR North Properties LP)
|
Whitby Centrum
|
Whitby, ON
|
Landmark of Canada
|
No
|
Subsidiary Guarantor*
|
Unencumbered Properties
|
Location
|
|
Top Golf Scottsdale
|
Scottsdale, AZ
|
|
Top Golf Spring
|
Spring, TX
|
|
Top Golf Tampa
|
Tampa, FL
|
|
Cinemagic Hooksett IMAX 15
|
Hooksett, NH
|
|
Cinemagic Saco IMAX 13
|
Saco, ME
|
|
Cinemagic Westbrook 16
|
Westbrook, ME
|
|
Columbia Mall 14
|
Columbia, MD
|
|
Glendora 12
|
Glendora, CA
|
|
Greensboro Grand 18
|
Greensboro, NC
|
|
Harbour View Grand 16
|
Suffolk, VA
|
|
Kalispell 14
|
Kalispell, MT
|
|
Panama City Beach Grand 16
|
Panama City, FL
|
|
Grand Prairie 18
|
Peoria, IL
|
|
Pinstripes Bowling & Bocce
|
Northbrook, IL
|
|
Star Southfield Center
|
Southfield, MI
|
|
White Oak 14
|
Garner, NC
|
|
Winston Salem Grand 18
|
Winston-Salem, NC
|
|
Top Golf San Antonio
|
San Antonio, TX
|
|
Strawbridge-Virginia Beach
|
Virginia Beach, VA
|
|
Carmike Yulee
|
Yulee, FL
|
|
MJR Sterling Heights
|
Sterling Heights, MI
|
|
Alamo Draft House - Mission
|
San Francisco, CA
|
|
Alamo Draft House - Laredo
|
Laredo, TX
|
|
Regency 24
|
Jacksonville, FL
|
|
Wynnsong 16
|
Mobile, AL
|
|
Thoroughbred 20
|
Franklin, TN
|
|
Carmike 16
|
El Paso, TX
|
|
Edinburg 20
|
Edinburg, TX
|
|
Kennewick 12
|
Kennewick, WA
|
|
Delmont 12
|
Delmont, PA
|
|
Hollywood 16 Theatre
|
Tuscaloosa, AL
|
|
Regal Crystal Lake 16
|
Crystal Lake, IL
|
|
Southern Juban Crossing
|
Denham, PA
|
|
Andretti Karting
|
Marietta, GA
|
|
Punch Bowl Social
|
Schaumberg, IL
|
Burbank Village, L.P.
|
|
|
|
Burbank Village
|
Burbank, CA
|
Cantera 30 Theatre, L.P.
|
|
|
|
Cantera Stadium 17
|
Warrenville, IL
|
Subsidiary Guarantor*
|
Unencumbered Properties
|
Location
|
ECE I, LLC
|
|
|
|
CLA-Coppell, TX
|
Coppell, TX
|
|
CLA-Durango Drive
|
Las Vegas, NV
|
|
CLA-Goodyear, AZ
|
Goodyear, AZ
|
|
CLA-Lake Pleasant
|
Lake Pleasant, AZ
|
|
CLA-Oklahoma
|
Oklahoma City, OK
|
|
CLA-Crismon
|
Mesa, AZ
|
|
CLA-Ann Road
|
Las Vegas, NV
|
|
CLA-Cedar Park
|
Cedar Park, TX
|
|
CLA-Centennial
|
Centennial, CO
|
|
CLA-Gilbert
|
Gilbert, AZ
|
|
CLA-McKinney
|
McKinney, TX
|
|
CLA-Thornton
|
Thornton, CO
|
ECE II, LLC
|
|
|
|
Gardner School
|
Lincoln Park, IL
|
Education Capital Solutions, LLC
|
|
|
|
100 Academy of Excellence
|
Las Vegas, NV
|
|
Academy of Columbus
|
Columbus, OH
|
|
Academy of Environmental Science & Math
|
St. Louis, MO
|
|
Bella Mente Academy
|
Vista, CA
|
|
BeLoved Academy
|
Jersey City, NJ
|
|
BFCS-Crismon Campus
|
Queen Creek, AZ
|
|
BFCS-Gilbert Campus
|
Gilbert, AZ
|
|
BFCS-Power Campus
|
Queen Creek, AZ
|
|
BFCS-Queen Creek HS/MS
|
Queen Creek, AZ
|
|
Bradley Academy of Excellence
|
Goodyear, AZ
|
|
Camden Community Charter School
|
Camden, NJ
|
|
Champion School
|
Phoenix, AZ
|
|
Chester Community Charter School
|
Upland, PA
|
|
Columbia Leadership
|
Columbia, SC
|
|
Desert West
|
Phoenix, AZ
|
|
East Mesa
|
Mesa, AZ
|
|
Global Village Academy
|
Colorado Springs, CO
|
|
Groveport Community School
|
Groveport, OH
|
|
Groveport Prep
|
Groveport, OH
|
|
Harvard Avenue CS
|
Cleveland, OH
|
|
Hope Community
|
Washington, DC
|
|
ILSA-E
|
Indianapolis, IN
|
|
ILSA-W
|
Indianapolis, IN
|
|
Imagine Academy at Sullivant
|
Columbus, OH
|
Subsidiary Guarantor*
|
Unencumbered Properties
|
Location
|
|
Phoenix Academy High School
|
High Point, NC
|
|
Phoenix Academy II
|
High Point, NC
|
|
Pineapple Cove
|
Palm Bay, FL
|
|
Riverwalk Academy
|
Rock Hill, SC
|
|
HM-GVI Lafayette CO
|
Denver, CO
|
|
HM-GVI Parker CO
|
Denver, CO
|
|
HM-GVI Littleton CO
|
Denver, CO
|
|
HM-GVI Lakewood CO
|
Denver, CO
|
|
HM-GVI Castle Rock CO
|
Denver, CO
|
|
HM-GVI Arvada CO
|
Denver, CO
|
|
LePort-Emeryville
|
Emeryville, CA
|
|
Nobel-Kelly Mill Rd GA
|
Atlanta, GA
|
|
Nobel-Majors Rd GA
|
Atlanta, GA
|
EPR Hialeah, Inc.
|
|
|
|
Hialeah 18
|
Hialeah, FL
|
EPR North US LP
|
|
|
|
Conroe Grand 14
|
Conroe, TX
|
EPT 909, Inc.
|
|
|
|
Hollywood USA
|
Pasadena, TX
|
|
Movies 10
|
Mishawaka, IN
|
|
Movies 10
|
Plano, TX
|
|
Movies 14
|
McKinney, TX
|
|
Movies 14
|
Redding, CA
|
|
Movies 17
|
Grand Prairie, TX
|
|
Tinseltown USA
|
Beaumont, TX
|
|
Tinseltown USA
|
Colorado Springs, CO
|
|
Tinseltown USA
|
El Paso, TX
|
|
Tinseltown USA
|
Houston, TX
|
|
Tinseltown USA
|
Pflugerville, TX
|
|
Tinseltown USA
|
Pueblo, CO
|
EPT Aliso Viejo, Inc.
|
|
|
|
Aliso Viejo 20
|
Aliso Viejo, CA
|
EPT Boise, Inc.
|
|
|
|
Boise Stadium 21
|
Boise, ID
|
EPT Concorde II, LLC
|
|
|
|
Concord Resort
|
Sullivan County, NY
|
EPT Dallas, LLC
|
|
|
|
Grand 24
|
Dallas, TX
|
EPT Davie, Inc.
|
|
|
Subsidiary Guarantor*
|
Unencumbered Properties
|
Location
|
|
Paradise 24
|
Davie, FL
|
EPT Deer Valley, Inc.
|
|
|
|
Deer Valley 30
|
Phoenix, AZ
|
EPT DownREIT II, Inc.
|
|
|
|
Houston Studio 30
|
Houston, TX
|
|
Huebner Oaks 24
|
San Antonio, TX
|
|
Lennox 24
|
Columbus, OH
|
|
Mission Valley 20
|
San Diego, CA
|
|
Ontario Mills 30
|
Ontario, CA
|
|
West Olive 16
|
Creve Coeur, MO
|
EPT Fontana, LLC
|
|
|
|
Mentorship Academy of Digital Arts
|
Baton Rouge, LA
|
EPT Gulf Pointe, Inc.
|
|
|
|
Gulf Pointe 30
|
Houston, TX
|
EPT Hamilton, Inc.
|
|
|
|
Hamilton 24
|
Hamilton, NJ
|
EPT Huntsville, Inc.
|
|
|
|
Valley Bend 18
|
Huntsville, AL
|
EPT Hurst, Inc.
|
|
|
|
North East Mall 18
|
Hurst, TX
|
EPT Kalamazoo, Inc.
|
|
|
|
Alamo Draft House - Kalamazoo
|
Kalamazoo, MI
|
EPT Little Rock, Inc.
|
|
|
|
Colonel Glenn 18
|
Little Rock, AR
|
EPT Mad River, Inc.
|
|
|
|
Mad River Mountain
|
Zanesville, OH
|
EPT Melbourne, Inc.
|
|
|
|
Avenue 16
|
Melbourne, FL
|
EPT Mesa, Inc.
|
|
|
|
Mesa 24
|
Mesa, AZ
|
EPT Mesquite, Inc.
|
|
|
|
Mesquite 30
|
Mesquite, TX
|
EPT Mount Snow, Inc.
|
|
|
|
Mount Snow (Mortgage)
|
West Dover, VT
|
|
Mount Snow II (Mortgage)
|
West Dover, VT
|
EPT Nineteen, Inc.
|
|
|
Subsidiary Guarantor*
|
Unencumbered Properties
|
Location
|
|
Ann Arbor
|
Ypsilanti, MI
|
|
Buckland Hills
|
Manchester, CT
|
|
Centreville 12
|
Centerville, VA
|
|
Davenport 18
|
Davenport, IA
|
|
Fairfax Corner
|
Fairfax, VA
|
|
Flint West 14
|
Flint, MI
|
|
Hazlet 12
|
Hazlet, NJ
|
|
Huber Heights 16
|
Huber Heights, OH
|
|
North Haven 12
|
North Haven, CT
|
|
Preston Crossings 16
|
Okolona, KY
|
|
Ritz Center 16
|
Voorhees, NJ
|
|
Stonybrook 20
|
Louisville, KY
|
|
The Greene 14
|
Beaver Creek, OH
|
|
West Springfield 15
|
West Springfield, MA
|
|
Western Hills 14
|
Cincinnati, OH
|
EPT Oakview, Inc.
|
|
|
|
Oakview Plaza 24
|
Omaha, NE
|
EPT Pensacola, Inc.
|
|
|
|
Bayou 15
|
Pensacola, FL
|
EPT Pompano, Inc.
|
|
|
|
Pompano 18
|
Pompano Beach, FL
|
EPT Raleigh Theatres, Inc.
|
|
|
|
Raleigh 16
|
Raleigh, NC
|
EPT Ski Properties, Inc.
|
|
|
|
Alpine Valley
|
Chesterland, OH
|
|
WISP Resort
|
McHenry, MD
|
|
Boston Mills/Brandywine (Mortgage)
|
Peninsula, OH
|
|
Jack Frost/Big Boulder (Mortgage)
|
Blakeslee, PA
|
|
Wintergreen Ski Resort
|
Wintergreen, VA
|
|
Camelback Resort
|
Tannersville, PA
|
EPT South Barrington, Inc.
|
|
|
|
South Barrington
|
Barrington, IL
|
EPT Twin Falls, LLC
|
|
|
|
Magic Valley Mall Theatre
|
Twin Falls, ID
|
EPT Waterparks, Inc.
|
|
|
|
Schlitterbahn Vacation Village
|
Kansas City, KS
|
|
Schlitterbahn Vacation Village
|
New Braunfels, TX
|
Subsidiary Guarantor*
|
Unencumbered Properties
|
Location
|
|
Schlitterbahn Vacation Village
|
South Padre, TX
|
Flik, Inc.
|
|
|
|
Cherrydale 16
|
Greenville, SC
|
|
Clearview
|
Metairie, LA
|
|
Crossroads 20
|
Cary, NC
|
|
Elmwood
|
Harahan, LA
|
|
Forum
|
Sterling Heights, MI
|
|
Hammond
|
Hammond, LA
|
|
Hoffman
|
Alexandria, VA
|
|
Houma
|
Houma, LA
|
|
Livonia
|
Livonia, MI
|
|
Olathe Studio
|
Olathe, KS
|
|
Palm Promenade
|
San Diego, CA
|
|
Starlight 20
|
Tampa, FL
|
|
Westbank
|
Harvey, LA
|
|
Woodridge
|
Woodridge, IL
|
Kanata Entertainment Holdings Inc.**
|
|
|
|
Kanata Centrum
|
Kanata, Ontario
|
Megaplex Four, Inc.
|
|
|
|
Cantera Retail
|
Warrensville, IL
|
|
Gulf Pointe Retail
|
Houston, TX
|
|
Mesquite Retail
|
Dallas, TX
|
|
Powder Springs Retail (Ground Lease)
|
Austell, GA
|
Megaplex Nine, Inc.
|
|
|
|
Hampton Town Center 24
|
Hampton, VA
|
Mississauga Entertainment Holdings Inc.**
|
|
|
|
Mississauga Centrum
|
Mississauga, Ontario
|
New Roc Associates, L.P.
|
|
|
|
New Roc Retail
|
New Rochelle, NY
|
Oakville Entertainment Holdings Inc.**
|
|
|
|
Oakville Centrum
|
Oakville, Ontario
|
Tampa Veterans 24, L.P.
|
|
|
|
Tampa Veterans 24
|
Tampa, FL
|
Westcol Center, LLC
|
|
|
Subsidiary Guarantor*
|
Unencumbered Properties
|
Location
|
|
Westminster & Westminster Promenade - Retail
|
Westminster, CO
|
Whitby Entertainment Holdings Inc.**
|
|
|
|
Whitby Centrum
|
Whitby, Ontario
|
1.
|
Indebtedness of the Company under the Bank Credit Agreement, the outstanding principal balance of which is $697,000,000. Guaranteed by the Subsidiary Guarantors. Unsecured.
|
2.
|
Indebtedness of the Company under the Bonds (which are publicly traded) consisting of the Company's 7.75% Notes due 2020, the outstanding principal balance of which is $250,000,000. Guaranteed by the Subsidiary Guarantors. Unsecured.
|
3.
|
Indebtedness of the Company under the Bonds (which are publicly traded) consisting of the Company's 5.75% Notes due 2022, the outstanding principal balance of which is $350,000,000. Guaranteed by the Subsidiary Guarantors. Unsecured.
|
4.
|
Indebtedness of the Company under the Bonds (which are publicly traded) consisting of the Company's 5.25% Notes due 2023, the outstanding principal balance of which is $275,000,000. Guaranteed by the Subsidiary Guarantors. Unsecured.
|
5.
|
Indebtedness of the Company under the Bonds (which are publicly traded) consisting of the Company's 4.50% Notes due 2025, the outstanding principal balance of which is $300,000,000. Guaranteed by the Subsidiary Guarantors. Unsecured.
|
6.
|
Indebtedness identified as Secured Indebtedness in Schedule 5.10, the outstanding principal balance of which is as indicated in such Schedule. Such Indebtedness constitutes Indebtedness of the applicable Subsidiary indicated in Schedule 5.10 and, except for any Bad Boy Guaranty, not of the Company or any other Subsidiary. Such Indebtedness is generally secured by a Lien on the real estate and any other assets of the Subsidiary liable for such Indebtedness.
|
7.
|
The Company has guaranteed the following indebtedness:
|
(a)
|
Go to the Show bonds; theatres in New Iberia, LA and Lafayette, LA; principal amount guaranteed equals $14,360,000;*
|
(b)
|
EPT Slidell, Inc. Project Series 2007B bonds; theatre in Slidell, LA; principal amount guaranteed equals $10,635,000;*
|
(c)
|
Canal Place bonds; Canal Place theatre in New Orleans, LA; principal amount guaranteed equals $3,685,000;
|
(d)
|
Canal Place bonds; Canal Place theatre in New Orleans, LA; principal amount guaranteed equals $2,500,000;
|
(e)
|
Esplanade bonds; Esplanade Mall theatre in Kenner, LA; principal amount guaranteed equals $14,245,302;
|
(f)
|
Esplanade bonds; Esplanade Mall theatre in Kenner, LA; principal amount guaranteed equals $2,498,733; and
|
(g)
|
Esplanade renovation loan; Esplanade Mall theatre in Kenner, LA; principal amount guaranteed equals $2,000,000.
|
*
|
also identified as Secured Indebtedness in Schedule 5.10
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
|
A
|
$25,500,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
JPMorgan Chase Bank
New York, NY
ABA No.: 021-000-021
Account Name: Prudential Managed Portfolio
Account No.: P86188 (please do not include spaces)
Each such wire transfer shall set forth the name of the Company, a reference to "4.35% Series A Senior Guaranteed Notes due August 22, 2024, Security No. INV 12018, PPN 26884U A*0" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
|
||
(2)
|
All notices relating solely to scheduled principal and interest payments to:
The Prudential Insurance Company of America
c/o PGIM, Inc.
Prudential Tower
655 Broad Street
14th Floor - South Tower
Newark, NJ 07102
Attention: PIM Private Accounting Processing Team
Email: Pim.Private.Accounting.Processing.Team@prudential.com
|
||
(3)
|
Email Address for Electronic Delivery: Pim.Private.Accounting.Processing.Team@prudential.com
|
||
(4)
|
Address for all other communications and notices:
The Prudential Insurance Company of America
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
Attention: Managing Director, Corporate Finance
|
(5)
|
Delivery of the Notes:
PGIM, Inc.
655 Broad Street
14th Floor - South Tower
Newark, NJ 07102
Attention: Michael Iacono - Trade Management Manager
With a copy to: jaya.mcclure@prudential.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 22-1211670
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
THE GIBRALTAR LIFE INSURANCE CO., LTD.
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
|
A
|
$24,500,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
JPMorgan Chase Bank
New York, NY
ABA No.: 021-000-021
Account Name: GIBPRVAFS1
Account No.: P30783 (please do not include spaces)
Each such wire transfer shall set forth the name of the Company, a reference to "4.35% Series A Senior Guaranteed Notes due August 22, 2024, Security No. INV 12018, PPN 26884U A*0" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
All payments, other than principal, interest or Make-Whole Amount, on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
JPMorgan Chase Bank
New York, NY
ABA No. 021-000-021
Account No. 304199036
Account Name: Prudential International Insurance Service Co.
Each such wire transfer shall set forth the name of the Company, a reference to "4.35% Series A Senior Guaranteed Notes due August 22, 2024, Security No. INV 12018, PPN 26884U A*0" and the due date and application (e.g., type of fee) of the payment being made.
|
||
(2)
|
All notices relating solely to scheduled principal and interest payments to:
The Gibraltar Life Insurance Co., Ltd.
2-13-10, Nagata-cho
Chiyoda-ku, Tokyo 100-8953, Japan
Attention: Osamu Egi, Team Leader of Investment Administration Team
Email: osamu.egi@gib-life.co.jp
With a copy to: Tetsuya Sawazaki, Manager of Investment Administration Team
Email: tetsuya.sawazaki@gib-life.co.jp
|
||
(3)
|
Email Address for Electronic Delivery: osamu.egi@gib-life.co.jp;
tetsuya.sawazaki@gib-life.co.jp
|
(4)
|
Address for all other communications and notices:
Prudential Private Placement Investors, L.P.
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
Attention: Managing Director, Corporate Finance
|
||
(5)
|
Delivery of the Notes:
PGIM, Inc.
655 Broad Street
14th Floor - South Tower
Newark, NJ 07102
Attention: Michael Iacono - Trade Management Manager
With a copy to: jaya.mcclure@prudential.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 98-0408643
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
THE PRUDENTIAL INSURANCE COMPANY OF AMERICA
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
|
B
|
$25,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
JPMorgan Chase Bank
New York, NY
ABA No.: 021-000-021
Account Name: The Prudential - Privest Portfolio
Account No.: P86189 (please do not include spaces)
Each such wire transfer shall set forth the name of the Company, a reference to "4.56% Series B Senior Guaranteed Notes due August 22, 2026, Security No. INV 12018, PPN 26884U A@8" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
|
||
(2)
|
All notices relating solely to scheduled principal and interest payments to:
The Prudential Insurance Company of America
c/o PGIM, Inc.
Prudential Tower
655 Broad Street
14th Floor - South Tower
Newark, NJ 07102
Attention: PIM Private Accounting Processing Team
Email: Pim.Private.Accounting.Processing.Team@prudential.com
|
||
(3)
|
Email Address for Electronic Delivery: Pim.Private.Accounting.Processing.Team@prudential.com
|
||
(4)
|
Address for all other communications and notices:
The Prudential Insurance Company of America
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
Attention: Managing Director, Corporate Finance
|
(5)
|
Delivery of the Notes:
PGIM, Inc.
655 Broad Street
14th Floor - South Tower
Newark, NJ 07102
Attention: Michael Iacono - Trade Management Manager
With a copy to: jaya.mcclure@prudential.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 22-1211670
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
THE GIBRALTAR LIFE INSURANCE CO., LTD.
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
|
B
|
$24,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
JPMorgan Chase Bank
New York, NY
ABA No.: 021-000-021
Account Name: GIBPRVJAFS1
Account No.: P86246 (please do not include spaces)
Each such wire transfer shall set forth the name of the Company, a reference to "4.56% Series B Senior Guaranteed Notes due August 22, 2026, Security No. INV 12018, PPN 26884U A@8" and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
All payments, other than principal, interest or Make-Whole Amount, on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
JPMorgan Chase Bank
New York, NY
ABA No. 021-000-021
Account No. 304199036
Account Name: Prudential International Insurance Service Co.
Each such wire transfer shall set forth the name of the Company, a reference to "4.56% Series B Senior Guaranteed Notes due August 22, 2026, Security No. INV 12018, PPN 26884U A@8" and the due date and application (e.g., type of fee) of the payment being made.
|
||
(2)
|
All notices relating solely to scheduled principal and interest payments to:
The Gibraltar Life Insurance Co., Ltd.
2-13-10, Nagata-cho
Chiyoda-ku, Tokyo 100-8953, Japan
Attention: Osamu Egi, Team Leader of Investment Administration Team
Email: osamu.egi@gib-life.co.jp
With a copy to: Tetsuya Sawazaki, Manager of Investment Administration Team
Email: tetsuya.sawazaki@gib-life.co.jp
|
||
(3)
|
Email Address for Electronic Delivery: osamu.egi@gib-life.co.jp;
tetsuya.sawazaki@gib-life.co.jp
|
(4)
|
Address for all other communications and notices:
Prudential Private Placement Investors, L.P.
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
Attention: Managing Director, Corporate Finance
|
||
(5)
|
Delivery of the Notes:
PGIM, Inc.
655 Broad Street
14th Floor - South Tower
Newark, NJ 07102
Attention: Michael Iacono - Trade Management Manager
With a copy to: jaya.mcclure@prudential.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 98-0408643
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
PRUCO LIFE INSURANCE COMPANY
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
|
B
|
$1,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
JPMorgan Chase Bank
New York, NY
ABA No.: 021-000-021
Account Name: Pruco Life Private Placement
Account No.: P86192 (please do not include spaces)
Each such wire transfer shall set forth the name of the Company, a reference to "4.56% Series B Senior Guaranteed Notes due August 22, 2026, Security No. INV 12018, PPN 26884U A@8", and the due date and application (as among principal, interest and Make-Whole Amount) of the payment being made.
|
||
(2)
|
All notices relating solely to scheduled principal and interest payments to:
Pruco Life Insurance Company
c/o PGIM, Inc.
Prudential Tower
655 Broad Street
14th Floor - South Tower
Newark, NJ 07102
Attention: PIM Private Accounting Processing Team
Email: Pim.Private.Accounting.Processing.Team@prudential.com
|
||
(3)
|
Email Address for Electronic Delivery: Pim.Private.Accounting.Processing.Team@prudential.com
|
||
(4)
|
Address for all communications and notices:
Pruco Life Insurance Company
c/o Prudential Capital Group
2200 Ross Avenue, Suite 4300
Dallas, TX 75201
Attention: Managing Director, Corporate Finance
|
(5)
|
Delivery of the Notes:
PGIM, Inc.
655 Broad Street
14th Floor - South Tower
Newark, NJ 07102
Attention: Michael Iacono - Trade Management Manager
With a copy to: jaya.mcclure@prudential.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 22-1944557
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
MIDLAND NATIONAL LIFE INSURANCE COMPANY
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$35,550,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest
:
The Bank of New York Mellon
ABA# 021000018
IMM/Cash Account Number: 2466708400
Account Name: Midland National Life Insurance Company
RE: description of what wire is for
For payments of principal and interest only
:
The Bank of New York Mellon
ABA# 021000018
GLA 111566
BNF: 246670
RE: Midland National Life Insurance Company, 246670, 26884U A@8, Description of Security, Pay Date, Principal Amount, Interest Amount
|
||
(2)
|
Address for all notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
Please reference:
Account Number 246670
Account Name: Midland National Life Insurance Co/ Annuity
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 46-0164570 (Midland National Life Insurance Company)
13-6062916 (Hare & Co.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
NORTH AMERICAN COMPANY FOR LIFE AND HEALTH INSURANCE
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$15,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest
:
The Bank of New York Mellon
ABA# 021000018
IMM/Cash Account Number: 2699978400
Account Name: North American Company for Life and Health Insurance
RE: description of what wire is for
For payments of principal and interest only
:
The Bank of New York Mellon
ABA# 021000018
GLA 111566
BNF: 269997
RE: North American Company for Life and Health Insurance, 269997, 26884U A@8, Description of Security, Pay Date, Principal Amount, Interest Amount
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
Please reference: Account Number 269997
Account Name: North American Company for Life and Health Insurance/ Annuity
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 46-0164570 (North American Company for Life and Health Insurance)
13-6062916 (Hare & Co.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
WILCO LIFE INSURANCE COMPANY
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$6,850,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest
:
U.S. Bank N.A.
ABA# 091000022
BNF: ITC South & East Depository Account
Beneficiary Account Address: 60 Livingston Avenue, St Paul, MN 55107-2292
Beneficiary Account Number: 173103781832
OBI: Line 1 001050986371 Conseco Life Insurance Company
Line 2 Pertinent Information
Line 3 Attn: Lisa Nadel
For payments of principal and interest only
:
The Bank of New York/Mellon
ABA 021000018
A/C: GLA111566 FFC A/C 117612
Attention P&I Dept
Hare & Co.
REF: 26884U A@8
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
For account: U.S. Bank N.A. #117612
FBO AC: 001050986371
Account Name: Conseco Life Insurance Company (Wilton-Minnow)
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 04-2299444 (Wilco Life Insurance Company)
13-6062916 (Hare & Co.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
NORTH AMERICAN COMPANY FOR LIFE AND HEALTH INSURANCE
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$5,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest
:
The Bank of New York Mellon
ABA# 021000018
IMM/Cash Account Number: 2699618400
Account Name: North American Company for Life and Health Insurance
RE: description of what wire is for
For payments of principal and interest only
:
The Bank of New York Mellon
ABA# 021000018
GLA 111566
BNF: 269961
RE: North American Company for Life and Health Insurance, 269961, 26884U A@8, Description of Security, Pay Date, Principal Amount, Interest Amount
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
Please reference: Account Number 269961
Account Name: North American Company for Life and Health Insurance/ Main
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 36-2428931 (North American Company for Life and Health Insurance)
13-6062916 (Hare & Co.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
NORTH AMERICAN COMPANY FOR LIFE AND HEALTH INSURANCE
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$5,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest
:
The Bank of New York Mellon
ABA# 021000018
IMM/Cash Account Number: 6844298400
Account Name: North American Company for Life and Health Insurance
RE: description of what wire is for
For payments of principal and interest only
:
The Bank of New York Mellon
ABA# 021000018
GLA 111566
BNF: 684429
RE: North American Company for Life and Health Insurance, 684429, 26884U A@8, Description of Security, Pay Date, Principal Amount, Interest Amount
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
Please reference: Account Number 684429
Account Name: NAC COULI GENERAL ACCOUNT CLONE
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 46-0164570 (North American Company for Life and Health Insurance)
13-6062916 (Hare & Co.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
MIDLAND NATIONAL LIFE INSURANCE COMPANY
c/o Guggenheim Partners
330 Madison Avenue, 10th Floor
New York, New York 10017
|
B
|
$5,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest
:
The Bank of New York Mellon
ABA# 021000018
IMM/Cash Account Number: 2463798400
Account Name: Midland National Life Insurance
RE: description of what wire is for
For payments of principal and interest only
:
The Bank of New York Mellon
ABA# 021000018
GLA 111566
BNF: 246379
Details: Midland National Life Insurance Company, 246379, 26884U A@8, 4.56% Series B Guaranteed Senior Note, Pay Date, Principal amount, Interest amount
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
Please reference: Account Number 246379
Account Name: Boli Separate Account General
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 46-0164570 (Midland National Life Insurance Company)
13-6062916 (Hare & Co.)
|
|
MIDLAND NATIONAL LIFE INSURANCE COMPANY
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$5,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest:
The Bank of New York Mellon
ABA# 021000018
IMM/Cash Account Number: 2463788400
Account Name: Midland National Life Insurance
RE: description of what wire is for
For payments of principal and interest only
:
The Bank of New York Mellon
ABA# 021000018
GLA 111566
BNF: 246378
Details: Midland National Life Insurance Company, 246378, 26884U A@8, 4.56% Series B Guaranteed Senior Note, Pay Date, Principal amount, Interest amount
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
Account Number 246379
Account Name: Boli Separate Account General
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 46-0164570 (Midland National Life Insurance Company)
13-6062916 (Hare & Co.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
CONTINENTAL ASSURANCE COMPANY
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$3,250,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest:
U.S. Bank N.A.
ABA# 091000022
BNF: ITC South & East Depository Account
Beneficiary Account Address: 60 Livingston Avenue, St Paul, MN 55107-2292
Beneficiary Account Number: 173103781832
OBI: Line 1 001050986377 Continental Assurance Company
Line 2 Pertinent Information
Line 3 Attn: Lisa Nadel
For payments of principal and interest only
:
The Bank of New York/Mellon
ABA 021000018
A/C: GLA111566 FFC A/C 117612
Attention P&I Dept
Hare & Co.
REF: 26884U A@8
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
For account: U.S. Bank N.A. #117612
FBO AC: 001050986377
Account Name: Continental Assurance Company
With a copy to: TJ Flanagan - thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 36-0947200 (Continental Assurance Company)
13-6062916 (Hare & Co.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
HORACE MANN LIFE INSURANCE COMPANY
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$3,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest:
ABA # 011000028
State Street Bank & Trust Co.
DDA # A/C – 33449109
Fund Number/Name E862 HORACE MANN LIFE INS CO/SIAM
For payments of principal and interest only
:
ABA # 011000028
State Street Bank & Trust Co.
DDA # A/C – 33449109
Fund Number/Name E862 HORACE MANN LIFE INS CO/SIAM
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
DTCC
Newport Office Center
570 Washington Blvd
Jersey City, NJ 07310
5th floor / NY Window / Robert Mendez
FBO: State Street Bank & Trust for account E862 Horace Mann Life Ins Co/SIAM
Account Number E862
Account Name: Horace Mann Life Insurance Co
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: AFTBRIDGE + CO.
U.S. Tax Identification Number: 37-0726637 (Horace Mann Life Insurance Company)
04-3284184 (AFTBRIDGE + CO.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
WILTON REASSURANCE COMPANY
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$1,100,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest:
U.S. Bank N.A.
ABA# 091000022
BNF: ITC South & East Depository Account
Beneficiary Account Address: 60 Livingston Avenue, St Paul, MN 55107-2292
Beneficiary Account Number: 173103781832
OBI: Line 1 001050975803 Wilton Reassurance
Line 2 Pertinent Information
Line 3 Attn: Lisa Nadel
For payments of principal and interest only
:
The Bank of New York/Mellon
ABA 021000018
A/C: GLA111566
FFC A/C 117612
Attention P&I Dept
Hare & Co.
REF: 26884U A@8
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
For account: U.S. Bank N.A. #117612
FBO AC: 001050975803
Account Name: Wilton Reassurance/ Conseco US Custody Account
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 41-1760577 (Wilton Reassurance Company)
13-6062916 (Hare & Co.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
TEXAS LIFE INSURANCE COMPANY
c/o Guggenheim Partners
330 Madison Avenue, 10
th
Floor
New York, New York 10017
|
B
|
$250,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
For payments other than principal and interest:
U.S. Bank N.A.
ABA# 091000022
BNF: ITC South & East Depository Account
Beneficiary Account Address: 60 Livingston Avenue, St Paul, MN 55107-2292
Beneficiary Account Number: 173103781832
OBI: Line 1 001050983227 Texas Life Insurance Company
Line 2 Pertinent Information
Line 3 Attn: Lisa Nadel
For payments of principal and interest only
:
The Bank of New York/Mellon
ABA 021000018
A/C: GLA111566
FFC A/C 117612
Attention P&I Dept
Hare & Co.
REF: 26884U A@8
|
||
(2)
|
Address for all Notices: GIPrivatePlacements@guggenheimpartners.com
|
||
(3)
|
Delivery of the Notes:
The Depository Trust Company
570 Washington Blvd - 5th floor
Jersey City, NJ 07310
Attn: BNY Mellon/Branch Deposit Department
For account: U.S. Bank N.A. #117612
Account Number: GLA 111566
FBO AC: 001050983227
Account Name: Texas Life Insurance Company
With a copy to: thomas.flanagan@guggenheimpartners.com
|
||
(4)
|
Name of Nominee in which Notes are to be issued: Hare & Co.
U.S. Tax Identification Number: 74-0940890 (Texas Life Insurance Company)
13-6062916 (Hare & Co.)
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
ENSIGN PEAK ADVISORS, INC.
50 East North Temple Street
Salt Lake City, Utah 84150
|
A
A
A
A
|
$5,000,000
$5,000,000
$5,000,000
$5,000,000
|
(1)
|
All payments on account of the Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
Zions First National Bank
ABA #124000054
Account Name: Ensign Peak Advisors, Inc.
Account Number: 01-20001-3
Ref: “Accompanying information below”
Each such wire transfer shall set forth the name of the Company, the full title (including the coupon rate, issuance date and final maturity date) of the Notes on account of which such payment is made, a reference to the PPN, and the due date and application (as among principal, premium and interest) of the payment being made.
|
||
(2)
|
All notices relating solely to scheduled principal and interest payments to:
Ensign Peak Advisors, Inc.
50 East North Temple Street, Room 1514
Salt Lake City, Utah 84150
Attention: Custody
Email: custody@ensignpeak.org
Phone: 801-240-1066
|
||
(3)
|
Email Address for Electronic Delivery: privateplacements@ensignpeak.org
|
||
(4)
|
Address for all other communications and notices:
Ensign Peak Advisors, Inc.
50 East North Temple Street
Salt Lake City, Utah 84150
Attention: Matthew D. Dall
privateplacements@ensignpeak.org
josh.flade@ensignpeak.org
|
(5)
|
Delivery of the Notes:
Ensign Peak Advisors, Inc.
50 East North Temple Street
Salt Lake City, Utah 84150
Attention: Ryan Martineau
With a copy to: josh.flade@ensignpeak.org
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 84-1432969
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
CLIFTON PARK CAPITAL MANAGEMENT, LLC
50 East North Temple Street
Salt Lake City, Utah 84150
|
A
A
|
$5,000,000
$5,000,000
|
(1)
|
All payments on account of the Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
Zions First National Bank
ABA #124000054
Account Name: Clifton Park
Account Number: 001-209774
Ref: “Accompanying information below”
Each such wire transfer shall set forth the name of the Company, the full title (including the coupon rate, issuance date and final maturity date) of the Notes on account of which such payment is made, a reference to the PPN, and the due date and application (as among principal, premium and interest) of the payment being made.
|
||
(3)
|
All notices relating solely to scheduled principal and interest payments to:
Ensign Peak Advisors, Inc.
50 East North Temple Street, Room 1514
Salt Lake City, Utah 84150
Attention: Custody
Email: custody@ensignpeak.org
Phone: 801-240-1066
With a copy to: josh.flade@ensignpeak.org
|
||
(3)
|
Email Address for Electronic Delivery: privateplacements@ensignpeak.org
|
||
(4)
|
Address for all other communications and notices:
Clifton Park Capital Management, LLC
50 East North Temple Street
Salt Lake City, Utah 84150
Attention: Matthew D. Dall
privateplacements@ensignpeak.org
|
(5)
|
Delivery of the Notes:
Ensign Peak Advisors, Inc.
50 East North Temple Street
Salt Lake City, Utah 84150
Attention: Ryan Martineau
With a copy to: josh.flade@ensignpeak.org
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 45-3122370
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
UNITED SERVICES AUTOMOBILE ASSOCIATION
9800 Fredericksburg Road
San Antonio, TX 78288
|
A
|
$10,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
Northern Chgo/Trust
ABA#071000152
Credit Wire Account # 5186061000
26-11037/ USAA
With sufficient information to identify the source and application of such funds, including the issuer name, the PPN of the issue, interest rate, payment due date, maturity date, interest amount, principal and premium amount.
|
||
(2)
|
All notices relating solely to scheduled principal and interest payments to:
Ell & Co
c/o Northern Trust Company
PO Box 92395
Chicago, IL 60675-92395
Attn: Income Collections
Please include the cusip and shares/par for the dividend/interest payment
With a copy to: PRIVATE_PLACEMENTS@usaa.com
|
||
(3)
|
Email Address for Electronic Delivery: PRIVATE_PLACEMENTS@usaa.com
|
||
(4)
|
Address for all other communications and notices:
Donna Baggerly
VP Insurance Portfolios
9800 Fredericksburg Road
San Antonio, TX 78288
(210) 498-5195
Email: PRIVATE_PLACEMENTS@usaa.com
|
(5)
|
Delivery of the Notes:
Depository Trust & Clearing Corporation
Newport Office Center
570 Washington Blvd.
5th Floor
Jersey City, NJ 07310
Attn: Tanya Stackhouse-Bowen or Robert Mendez
Reference: Northern Trust Account # 26-11037/ USAA
Telephone: 212-855-2484
With a copy to: hal.candland@usaa.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: ELL & CO.
U.S. Tax Identification Number: 74-0959140
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
USAA LIFE INSURANCE COMPANY
9800 Fredericksburg Road
San Antonio, TX 78288
|
A
B
|
$5,000,000
$15,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
Northern Chgo/Trust
ABA#071000152
Credit Wire Account # 5186061000
26-11042/ Life Company
With sufficient information to identify the source and application of such funds, including the issuer name, the PPN of the issue, interest rate, payment due date, maturity date, interest amount, principal and premium amount.
|
||
(2)
|
All notices relating solely to scheduled principal and interest payments to:
Ell & Co
c/o Northern Trust Company
PO Box 92395
Chicago, IL 60675-92395
Attn: Income Collections
Please include the cusip and shares/par for the dividend/interest payment
With a copy to: PRIVATE_PLACEMENTS@usaa.com
|
||
(3)
|
Email Address for Electronic Delivery: PRIVATE_PLACEMENTS@usaa.com
|
||
(4)
|
Address for all other communications and notices:
John Spear
VP Insurance Portfolios
9800 Fredericksburg Road
San Antonio, TX 78288
(210) 498-8661
Email: PRIVATE_PLACEMENTS@usaa.com
|
(5)
|
Delivery of the Notes:
Depository Trust & Clearing Corporation
Newport Office Center
570 Washington Blvd.
5th Floor
Jersey City, NJ 07310
Attn: Tanya Stackhouse-Bowen or Robert Mendez
Reference: Northern Trust Account # 26-11042/ Life Company
212-855-2484
With a copy to: hal.candland@usaa.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: ELL & CO.
U.S. Tax Identification Number: 74-1472662
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA
7 Hanover Square
New York, NY 10004-2616
|
A
B
|
$7,000,000
$17,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
JP Morgan Chase
FED ABA #021000021
Chase/NYC/CTR/BNF
A/C 900-9-000200
Reference A/C #G05978, Guardian Life, PRIF-W, CUSIP # 26884U A*0/26884U A@8, EPR Properties
|
||
(2)
|
Email Address for Electronic Delivery: Thomas_donohue@glic.com
|
||
(3)
|
Address for all other communications and notices:
The Guardian Life Insurance Company of America
7 Hanover Square
New York, NY 10004-2616
Attn: Thomas Donohue
Investment Department 9-A
FAX # (212) 919-2658
Email address: Thomas_donohue@glic.com
|
||
(4)
|
Delivery of the Notes:
JP Morgan Chase Bank, N.A.
4 Chase Metrotech Center – 3rd Floor
Brooklyn, NY 11245-0001
Reference A/C #G05978, Guardian Life (PRIF-W)
With a copy to: Kevin_F_Carey@glic.com
|
||
(5)
|
Name of Nominee in which Notes are to be issued: The Guardian Life Insurance Company of America
U.S. Tax Identification Number: 13-5123390
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
THE GUARDIAN LIFE INSURANCE COMPANY OF AMERICA
7 Hanover Square
New York, NY 10004-2616
|
A
|
$5,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
JP Morgan Chase
FED ABA #021000021
Chase/NYC/CTR/BNF
A/C 900-9-000200
Reference A/C #G04191, Guardian Life, PRIF-L, CUSIP # 26884U A@8, EPR Properties
|
||
(2)
|
Email Address for Electronic Delivery: Thomas_donohue@glic.com
|
||
(3)
|
Address for all other communications and notices:
The Guardian Life Insurance Company of America
7 Hanover Square
New York, NY 10004-2616
Attn: Thomas Donohue
Investment Department 9-A
FAX # (212) 919-2658
|
||
(4)
|
Delivery of the Notes:
JP Morgan Chase Bank, N.A.
4 Chase Metrotech Center – 3rd Floor
Brooklyn, NY 11245-0001
Reference A/C #G04191, Guardian Life (PRIF-L)
With a copy to: Kevin_F_Carey@glic.com
|
||
(5)
|
Name of Nominee in which Notes are to be issued: The Guardian Life Insurance Company of America
U.S. Tax Identification Number: 13-5123390
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
THE OHIO NATIONAL LIFE INSURANCE COMPANY
One Financial Way
Cincinnati, OH 45242
|
A
B
|
$5,000,000
$7,500,000
|
(1)
|
All payments on account of the Notes by bank wire transfer of Federal or other immediately available funds (identifying each payment as to issuer, security, and principal or interest) to:
U.S. Bank N.A.
ABA #042-000013
5th & Walnut Streets
Cincinnati, OH 45202
For credit to The Ohio National Life Insurance Company's Account No. 910-275-7
|
||
(2)
|
Email Address for Electronic Delivery: privateplacements@ohionational.com
|
||
(3)
|
All other notices and communications, including notices with respect to payments and written confirmation of each such payment, to be addressed:
The Ohio National Life Insurance Company
One Financial Way
Cincinnati, OH 45242
Attention: Investment Department
Fax number: 513-794-4506
|
||
(4)
|
Delivery of the Notes:
The Ohio National Life Insurance Company
One Financial Way
Cincinnati, OH 45242
Attention: Investment Department
With a copy to: annette_teders@ohionational.com
|
||
(5)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 31-0397080
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
OHIO NATIONAL LIFE ASSURANCE CORPORATION
One Financial Way
Cincinnati, OH 45242
|
B
|
$7,500,000
|
(1)
|
All payments on account of the Notes by bank wire transfer of Federal or other immediately available funds (identifying each payment as to issuer, security, and principal or interest) to:
U.S. Bank N.A.
ABA #042-000013
5th & Walnut Streets
Cincinnati, OH 45202
For credit to Ohio National Life Assurance Corporation's Account No. 865-215-8
|
||
(2)
|
Email Address for Electronic Delivery: privateplacements@ohionational.com
|
||
(3)
|
All notices and communications, including notices with respect to payments and written confirmation of each such payment, to be addressed:
Ohio National Life Assurance Corporation
One Financial Way
Cincinnati, OH 45242
Attn: Investment Department
Fax number: 513-794-4506
|
||
(4)
|
Delivery of the Notes:
Ohio National Life Assurance Corporation
One Financial Way
Cincinnati, OH 45242
Attention: Investment Department
With a copy to: annette_teders@ohionational.com
|
||
(5)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 31-0962495
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
FIDELITY & GUARANTY LIFE INSURANCE COMPANY
1001 Fleet Street, 6
th
Floor
Baltimore, MD 21202
|
A
|
$15,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by Federal Funds Wire Transfer of immediately available funds for credit to:
Citibank, N.A.
New York, NY
ABA: 021000089
Credit Account: 09250276
Account Name: BBH Co.
Account Number: 8039679
Account Name: FGLIC BMA PP FIA
RE: EPR Properties, $148,000,000 4.35% Guaranteed Senior Notes, Series A,
Due August 22, 2024
PPN: 26884U A*0
Due date and application (as among principal and interest) of the payment being made.
|
||
(2)
|
All notices relating solely to payments and prepayments to:
Fidelity & Guaranty Life Insurance Company
Attention: Treasury
1001 Fleet Street, 6
th
Floor
Baltimore, MD 21202
Tel: (410) 895-0100
With a copy to: privateplacements@fglife.com
|
||
(3)
|
Email Address for Electronic Delivery: privateplacements@fglife.com
|
||
(4)
|
Address for all other communications:
Fidelity & Guaranty Life Insurance Company
Attention: Investments
1001 Fleet Street, 6
th
Floor
Baltimore, MD 21202
With a copy to: privateplacements@fglife.com
And with a copy of any notices regarding Defaults or Events of Defaults under the operative documents to:
Attention: General Counsel
|
(5)
|
Delivery of the Notes:
Brown Brothers Harriman & Co.
140 Broadway St.
Attention: Physical Receive Department
New York, NY 10005-1101
For account: FGLIC BMA PP FIA, #8039679
With a copy to: Thomas.Cunningham@fglife.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 56-6033321
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
AMERICAN EQUITY INVESTMENT LIFE INSURANCE COMPANY
6000 Westown Parkway
West Des Moines, IA 50266
|
A
|
$10,000,000
|
(1)
|
All payments on or in respect of the Notes shall be made in immediately available funds to:
State Street Bank & Trust Company
ABA # 011000028
Account # 00076026, Income Collection, BEV3
REFERENCE: (26884U A*0, Security Description, Interest Rate, Maturity Date, Interest Amount, Principal and Premium Amount)
|
||
(2)
|
All notices relating solely to scheduled principal and interest payments to:
American Equity Investment Life Insurance Co.
Attn: Asset Administration
6000 Westown Parkway
West Des Moines, IA 50266
515-221-0329 fax
With a copy to: PrivatePlacements@american-equity.com
|
||
(3)
|
Email Address for Electronic Delivery: PrivatePlacements@american-equity.com
|
||
(4)
|
Address for all other communications and notices:
American Equity Investment Life Insurance Company
6000 Westown Parkway
West Des Moines, IA 50266
Attention: Investment Department - Private Placements
Telephone: 888-221-1234
Fax: 515-221-0329
|
||
(5)
|
Delivery of the Notes:
DTCC
Newport Office Center
570 Washington Blvd
Jersey City, NJ 07310
5th Floor/NY Window/Robert Mendez
FBO State Street Bank & Trust for account BEV3
CUSIP/PPN:26884U A*0
Security Description: 4.35% Series A Guaranteed Senior Note
With a copy to: lbrons@american-equity.com
|
(6)
|
Name of Nominee in which Notes are to be issued: CHIMEFISH & CO.
U.S. Tax Identification Number: 65-1186810
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
AMERICAN FAMILY LIFE INSURANCE COMPANY
6000 American Parkway
Madison, Wisconsin 53783-0001
|
A
|
$5,000,000
|
(1)
|
All payments on or in respect of the Notes to be by Federal Funds Wire Transfer to:
US Bank, N.A.
Trust Services
60 Livingston Ave., St. Paul, MN 55107-2292
ABA #091000022
Beneficial Account #180183083765
FFC to American Family Trust Account #191050973661 for AFLIC-Traditional Cash & Privates
Credit for PPN: 26884U A*0
Accompanying Information:
Name of Issuer: EPR Properties
Description of Security: 4.35% Series A GTD Senior Notes due August 22, 2024
PPN: 26884U A*0
Due date and application (as among principal, premium and interest) of the payment being made
|
||
(2)
|
Address for Notices Related to Payments:
American Family Life Insurance Company
6000 American Parkway
Madison, Wisconsin 53783-0001
Attention: Investment Division-Private Placements
dvoge@amfam.com
|
||
(3)
|
Email Address for Electronic Delivery: dvoge@amfam.com
|
||
(4)
|
Address for Notices Regarding Audit Confirmations::
American Family Life Insurance Company
6000 American Parkway
Madison, Wisconsin 53783-0001
Attention: Investment Division-Private Placements
dvoge@amfam.com
|
(5)
|
Address for all other communications and notices:
American Family Life Insurance Company
6000 American Parkway
Madison, Wisconsin 53783-0001
Attention: Investment Division-Private Placements
dvoge@amfam.com
|
||
(6)
|
Delivery of the Notes:
US Bank Milwaukee, N.A.
Attn: Julie Wiza (MK-WI-T15C)
Trust Officer, Account Manager
777 E. Wisconsin Ave.
Milwaukee, WI 53202
with a copy to: dvoge@amfam.com
|
||
(7)
|
Name of Nominee in which Notes are to be issued: BAND & CO.
U.S. Tax Identification Number: 39-6039160
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
AMERICAN FAMILY LIFE INSURANCE COMPANY
6000 American Parkway
Madison, Wisconsin 53783-0001
|
A
|
$1,200,000
|
(1)
|
All payments on or in respect of the Notes to be by Federal Funds Wire Transfer to:
US Bank, N.A.
Trust Services
60 Livingston Ave., St. Paul, MN 55107-2292
ABA #091000022
Beneficial Account #180183083765
FFC to American Family Trust Account #191050973667 for AFLIC-UL Cash and Privates
Credit for PPN: 26884U A*0
Accompanying Information:
Name of Issuer: EPR Properties
Description of Security: 4.35% Series A GTD Senior Notes due August 22, 2024
PPN: 26884U A*0
Due date and application (as among principal, premium and interest) of the payment being made
|
||
(2)
|
Address for Notices Related to Payments:
American Family Life Insurance Company
6000 American Parkway
Madison, Wisconsin 53783-0001
Attention: Investment Division-Private Placements
dvoge@amfam.com
|
||
(3)
|
Email Address for Electronic Delivery: dvoge@amfam.com
|
||
(4)
|
Notices Regarding Audit Confirmations::
American Family Life Insurance Company
6000 American Parkway
Madison, Wisconsin 53783-0001
Attention: Investment Division-Private Placements
dvoge@amfam.com
|
(5)
|
Address for all other communications and notices:
American Family Life Insurance Company
6000 American Parkway
Madison, Wisconsin 53783-0001
Attention: Investment Division-Private Placements
dvoge@amfam.com
|
||
(6)
|
Delivery of the Notes:
US Bank Milwaukee, N.A.
Attn: Julie Wiza (MK-WI-T15C)
Trust Officer, Account Manager
777 E. Wisconsin Ave.
Milwaukee, WI 53202
with a copy to: dvoge@amfam.com
|
||
(7)
|
Name of Nominee in which Notes are to be issued: BAND & CO.
U.S. Tax Identification Number: 39-6039160
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
AMERICAN FAMILY LIFE INSURANCE COMPANY
6000 American Parkway
Madison, Wisconsin 53783-0001
|
A
|
$300,000
|
(1)
|
All payments on or in respect of the Notes to be by Federal Funds Wire Transfer to:
US Bank, N.A.
Trust Services
60 Livingston Ave., St. Paul, MN 55107-2292
ABA #091000022
Beneficial Account #180183083765
FFC to American Family Trust Account #191050973663 for AFLIC-Par Cash & Privates
Credit for PPN: 26884U A*0
Accompanying Information:
Name of Issuer: EPR Properties
Description of Security: 4.35% Series A GTD Senior Notes due August 22, 2024
PPN: 26884U A*0
Due date and application (as among principal, premium and interest) of the payment being made
|
||
(2)
|
Address for Notices Related to Payments:
American Family Life Insurance Company
6000 American Parkway
Madison, Wisconsin 53783-0001
Attention: Investment Division-Private Placements
dvoge@amfam.com
|
||
(3)
|
Email Address for Electronic Delivery: dvoge@amfam.com
|
||
(4)
|
Notices Regarding Audit Confirmations::
American Family Life Insurance Company
6000 American Parkway
Madison, Wisconsin 53783-0001
Attention: Investment Division-Private Placements
dvoge@amfam.com
|
(5)
|
Address for all other communications and notices:
American Family Life Insurance Company
6000 American Parkway
Madison, Wisconsin 53783-0001
Attention: Investment Division-Private Placements
dvoge@amfam.com
|
||
(6)
|
Delivery of the Notes:
US Bank Milwaukee, N.A.
Attn: Julie Wiza (MK-WI-T15C)
Trust Officer, Account Manager
777 E. Wisconsin Ave.
Milwaukee, WI 53202
with a copy to: dvoge@amfam.com
|
||
(7)
|
Name of Nominee in which Notes are to be issued: BAND & CO.
U.S. Tax Identification Number: 39-6039160
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
AMERICO FINANCIAL LIFE & ANNUITY INSURANCE COMPANY
c/o Americo Life, Inc.
300 West 11
th
Street
Kansas City, MO 64105
|
B
|
$5,000,000
|
(1)
|
All payments on account of Notes held by such purchaser shall be made by wire transfer of immediately available funds for credit to:
State Street Bank & Trust
ABA #011000028
A/C #14254312
Americo Financial Life & Annuity Insurance Company – U6F1
Payment instructions should ref: EPR Properties, 4.56% Senior Notes Due August 22, 2026
|
||
(2)
|
Address for all notices of payments and written confirmation of payments to:
Attn: Investment Accounting – Denise Kisner
Americo Life, Inc.
PO Box 410288
Kansas City, MO 64141-0288
Telephone: (816) 391-2118
Email: denise.kisner@americo.com
|
||
(3)
|
Email Address for Electronic Delivery: denise.kisner@americo.com
|
||
(4)
|
Address for all other communications and notices:
Attn: Investment Department
Americo Life, Inc.
300 West 11th Street
Kansas City, MO 64105
Telephone: (816) 391-2779
Email: private.placement@americo.com
|
||
(5)
|
Delivery of the Notes:
DTCC
Newport Office Center
570 Washington Blvd
Jersey City, NJ 07310
5th Floor/NY Window/Robert Mendez
FBO: State Street Bank – Americo Financial Life & Annuity Insurance Company – U6F1
With a copy to: troy.peterson@americo.com
|
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 35-0810610
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
INVESTORS HERITAGE LIFE INSURANCE COMPANY
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
|
A
|
$2,000,000
|
(1)
|
All payments to be made by crediting (in the form of federal funds bank wire transfer, with sufficient information to identify the source and application of funds) the following account:
Fifth Third Bank N.A.
Cincinnati, Ohio
ABA: 042000314
Account #: 71575856
Account Name: Fifth Third Wire Account
FFC Account #: 38380036209985
FFC Account Name: Investors Heritage
|
||
(2)
|
Address for all legal notices and documentation:
Investors Heritage Life Insurance Company
c/o Conning, Inc.
One Financial Plaza, 13
th
Floor
Hartford, CT 06103-2627
Attention: Sheilah Gibson
Facsimile: 860-299-0074
Phone: 860-299-2074
Email: Sheilah.gibson@conning.com
|
||
(3)
|
Email Address for Electronic Delivery: Sheilah.gibson@conning.com; Samuel.Otchere@conning.com
|
(4)
|
Address for all other notices and communications:
Investors Heritage Life Insurance Company
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
Attention: Samuel O. Otchere
Phone: 860-299-2262
Facsimile: 860-299-0262
Email: Samuel.Otchere@conning.com
With a copy to:
Investors Heritage Life Insurance Company
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
Attention: Private Placement Unit
Phone: 860-299-2161
Facsimile: 860-299-0161
Email: conning.documents@conning.com
|
||
(5)
|
Delivery of the Notes:
Sheilah Gibson, Esq.
Senior Legal Counsel
One Financial Plaza
Hartford, CT 06103
With a copy to: Sheilah.gibson@conning.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 61-0290030
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
MISSOURI EMPLOYERS MUTUAL INSURANCE COMPANY
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
|
A
|
$1,000,000
|
(1)
|
All payments to be made by crediting (in the form of federal funds bank wire transfer, with sufficient information to identify the source and application of funds) the following account:
Commerce Bank.
811 Main Street – 9
th
Floor
Kansas City, MO 64105-2005
ABA#: 101000019
Credit Account: CTC OPS
Credit Account #: 1991400781
FFC Account Name: MO Employers Mut-Conning
FCC Acct#: 750228025
Reference: 26884U A*0 4.35% Series A GTD Senior Note, and breakdown (principal/income)
|
||
(2)
|
Address for all legal notices and documentation:
Missouri Employers Mutual Insurance Company
c/o Conning, Inc.
One Financial Plaza, 13
th
Floor
Hartford, CT 06103-2627
Attention: Sheilah Gibson
Facsimile: 860-299-0074
Phone: 860-299-2074
Email: Sheilah.gibson@conning.com
|
||
(3)
|
Email Address for Electronic Delivery: Sheilah.gibson@conning.com; Samuel.Otchere@conning.com
|
(4)
|
Address for all other notices and communications:
Missouri Employers Mutual Insurance Company
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
Attention: Samuel O. Otchere
Phone: 860-299-2262
Facsimile: 860-299-0262
Email: Samuel.Otchere@conning.com
With a copy to:
Missouri Employers Mutual Insurance Company
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
Attention: Private Placement Unit
Phone: 860-299-2161
Facsimile: 860-299-0161
Email: conning.documents@conning.com
|
||
(5)
|
Delivery of the Notes:
Sheilah Gibson, Esq.
Senior Legal Counsel
One Financial Plaza
Hartford, CT 06103
With a copy to: Sheilah.gibson@conning.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 43-1668466
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
5 STAR LIFE INSURANCE COMPANY
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
|
A
|
$1,000,000
|
(1)
|
All payments to be made by crediting (in the form of federal funds bank wire transfer, with sufficient information to identify the source and application of funds) the following account:
US Bank, N.A. Minnesota
St. Paul, Minnesota
ABA#: 091000022
Account Name: Trust Custody Portland
Credit A/C#: 173101852270
FFC Account Name: 5Star Life Ins.
FCC Acct#: 291129900
Reference: 26884U A*0 4.35% Series A GTD Senior Note, and breakdown (principal/income)
|
||
(2)
|
Address for all legal notices and documentation:
5Star Life Insurance Company
c/o Conning, Inc.
One Financial Plaza, 13
th
Floor
Hartford, CT 06103-2627
Attention: Sheilah Gibson
Facsimile: 860-299-0074
Phone: 860-299-2074
Email: Sheilah.gibson@conning.com
|
||
(3)
|
Email Address for Electronic Delivery: Sheilah.gibson@conning.com; Samuel.Otchere@conning.com
|
(4)
|
Address for all other notices and communications:
5Star Life Insurance Company
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
Attention: Samuel O. Otchere
Phone: 860-299-2262
Facsimile: 860-299-0262
Email: Samuel.Otchere@conning.com
With a copy to:
5Star Life Insurance Company
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
Attention: Private Placement Unit
Phone: 860-299-2161
Facsimile: 860-299-0161
Email: conning.documents@conning.com
|
||
|
|
||
(5)
|
Delivery of the Notes:
Sheilah Gibson, Esq.
Senior Legal Counsel
One Financial Plaza
Hartford, CT 06103
With a copy to: Sheilah.gibson@conning.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 54-1829709
|
|
NAME AND ADDRESS OF PURCHASER |
SERIES
|
PRINCIPAL AMOUNT OF
NOTES TO BE PURCHASED
|
|
USABLE LIFE
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
|
A
|
$500,000
|
(1)
|
All payments to be made by crediting (in the form of federal funds bank wire transfer, with sufficient information to identify the source and application of funds) the following account:
Regions Bank
Birmingham, Alabama
ABA#: 062005690
Account Name: Wealth Management Operations
Credit Acct #: 0017541387
FFC Acct Name: USAble Life
FCC Acct #: 7050008171
Reference: 26884U A*0 4.35% Series A GTD Senior Note, and breakdown (principal/income)
|
||
(2)
|
Address for all legal notices and documentation:
USAble Life
c/o Conning, Inc.
One Financial Plaza, 13
th
Floor
Hartford, CT 06103-2627
Attention: Sheilah Gibson
Facsimile: 860-299-0074
Phone: 860-299-2074
Email: Sheilah.gibson@conning.com
|
||
(3)
|
Email Address for Electronic Delivery: Sheilah.gibson@conning.com; Samuel.Otchere@conning.com
|
(4)
|
Address for all other notices and communications:
USAble Life
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
Attention: Samuel O. Otchere
Phone: 860-299-2262
Facsimile: 860-299-0262
Email: Samuel.Otchere@conning.com
With a copy to:
USAble Life
c/o Conning, Inc.
One Financial Plaza, 14
th
Floor
Hartford, CT 06103-2627
Attention: Private Placement Unit
Phone: 860-299-2161
Facsimile: 860-299-0161
Email: conning.documents@conning.com
|
||
(5)
|
Delivery of the Notes:
Sheilah Gibson, Esq.
Senior Legal Counsel
One Financial Plaza
Hartford, CT 06103
With a copy to: Sheilah.gibson@conning.com
|
||
(6)
|
Name of Nominee in which Notes are to be issued: None
U.S. Tax Identification Number: 71-0505232
|
SECTION
|
HEADING
|
PAGE
|
|
24.
|
SECTION 1
|
...............................................................................Definitions
|
2
|
25.
|
SECTION 2
|
..................Guaranty of Notes and Note Purchase Agreement
|
2
|
26.
|
SECTION 3
|
...................................Guaranty of Payment and Performance
|
3
|
27.
|
SECTION 4
|
..........................General Provisions Relating to the Guaranty
|
4
|
28.
|
SECTION 5
|
..................Representations and Warranties of the Guarantors
|
8
|
29.
|
SECTION 6
|
......................................Amendments, Waivers and Consents
|
10
|
30.
|
SECTION 7
|
.....................................................................................Notices
|
11
|
31.
|
SECTION 9
|
..........................................................................Miscellaneous
|
11
|
Exhibit A
|
— Guaranty Supplement
|
(45)
|
BURBANK VILLAGE, L.P.
|
•
|
Total revenue was
$118.0 million
for the second quarter of 2016, representing a 17% increase from
$101.3 million
for the same quarter in 2015.
|
•
|
Net income available to common shareholders was
$49.2 million
, or
$0.77
per diluted common share, for the second quarter of 2016 compared to
$42.8 million
, or
$0.75
per diluted common share, for the same quarter in 2015.
|
•
|
Funds From Operations (FFO) (a non-GAAP financial measure) for the second quarter of 2016 was
$72.2 million
, or
$1.13
per diluted common share, compared to
$64.3 million
, or
$1.12
per diluted common share, for the same quarter in 2015.
|
•
|
FFO as adjusted (a non-GAAP financial measure) for the second quarter of 2016 was
$74.7 million
, or
$1.17
per diluted common share, compared to
$62.3 million
, or
$1.08
per diluted common share, for the same quarter in 2015, representing an 8% increase in per share results.
|
•
|
Total revenue was
$236.8 million
for the six months ended June 30, 2016, representing an 18% increase from
$200.7 million
for the same period in 2015.
|
•
|
Net income available to common shareholders was
$97.4 million
, or
$1.54
per diluted common share, for the six months ended June 30, 2016 compared to
$79.7 million
, or
$1.39
per diluted common share, for the same period in 2015.
|
•
|
FFO (a non-GAAP financial measure) for the six months ended June 30, 2016 was
$146.0 million
, or
$2.30
per diluted common share, compared to
$96.5 million
, or
$1.68
per diluted common share, for the same period in 2015.
|
•
|
FFO as adjusted (a non-GAAP financial measure) for the six months ended June 30, 2016 was
$148.4 million
, or
$2.33
per diluted common share, compared to
$121.3 million
, or
$2.11
per diluted common share, for the same period in 2015, representing a 10% increase in per share results.
|
•
|
The Entertainment segment included investments in 138 megaplex theatre properties, eight entertainment retail centers (which include eight additional megaplex theatre properties) and eight family entertainment centers. The Company’s portfolio of owned entertainment properties consisted of 12.4 million square feet and was 98% leased, including megaplex theatres that were 100% leased.
|
•
|
The Education segment included investments in 69 public charter school properties, 21 early education centers and three private school properties. The Company’s portfolio of owned education properties consisted of 4.5 million square feet and was 100% leased.
|
•
|
The Recreation segment included investments in 11 metro ski parks, five waterparks and 20 golf entertainment complexes. The Company’s portfolio of owned recreation properties was 100% leased.
|
•
|
The Other segment consisted primarily of the land under ground lease and land held for development related to the Adelaar casino and resort project in Sullivan County, New York.
|
•
|
Entertainment investment spending during the three months ended June 30, 2016 totaled $116.6 million, of which $94.8 million related to the acquisition of a portfolio of six megaplex theatres located in Pennsylvania, Alabama, Tennessee, Texas and Washington. In addition, entertainment investment spending related to the development or redevelopment of eight megaplex theatres, two family entertainment centers and four entertainment retail centers.
|
•
|
Education investment spending during the three months ended June 30, 2016 totaled $70.4 million, and was related to investments in the development or expansion of 18 public charter schools, three private schools, and 15 early childhood education centers.
|
•
|
Recreation investment spending during the three months ended June 30, 2016 totaled $39.7 million, and was related to build-to-suit construction of nine Topgolf golf entertainment facilities, as well as additional improvements at Camelback Mountain Resort and the Adelaar waterpark project.
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
Rental revenue
|
$
|
96,055
|
|
|
$
|
77,860
|
|
|
$
|
189,833
|
|
|
$
|
154,600
|
|
Tenant reimbursements
|
3,891
|
|
|
3,965
|
|
|
7,756
|
|
|
8,268
|
|
||||
Other income
|
2,126
|
|
|
1,148
|
|
|
3,336
|
|
|
1,698
|
|
||||
Mortgage and other financing income
|
15,961
|
|
|
18,285
|
|
|
35,876
|
|
|
36,128
|
|
||||
Total revenue
|
118,033
|
|
|
101,258
|
|
|
236,801
|
|
|
200,694
|
|
||||
Property operating expense
|
5,580
|
|
|
5,770
|
|
|
11,061
|
|
|
12,127
|
|
||||
Other expense
|
—
|
|
|
210
|
|
|
5
|
|
|
312
|
|
||||
General and administrative expense
|
9,000
|
|
|
7,756
|
|
|
18,218
|
|
|
15,438
|
|
||||
Retirement severance expense
|
—
|
|
|
—
|
|
|
—
|
|
|
18,578
|
|
||||
Costs associated with loan refinancing or payoff
|
339
|
|
|
243
|
|
|
891
|
|
|
243
|
|
||||
Interest expense, net
|
22,756
|
|
|
20,007
|
|
|
46,045
|
|
|
38,594
|
|
||||
Transaction costs
|
1,490
|
|
|
4,429
|
|
|
1,934
|
|
|
6,035
|
|
||||
Depreciation and amortization
|
25,666
|
|
|
21,849
|
|
|
51,621
|
|
|
41,204
|
|
||||
Income before equity in income from joint ventures and other items
|
53,202
|
|
|
40,994
|
|
|
107,026
|
|
|
68,163
|
|
||||
Equity in income from joint ventures
|
86
|
|
|
198
|
|
|
298
|
|
|
362
|
|
||||
Gain on sale of real estate
|
2,270
|
|
|
—
|
|
|
2,270
|
|
|
23,924
|
|
||||
Income before income taxes
|
55,558
|
|
|
41,192
|
|
|
109,594
|
|
|
92,449
|
|
||||
Income tax benefit (expense)
|
(423
|
)
|
|
7,506
|
|
|
(279
|
)
|
|
(920
|
)
|
||||
Income from continuing operations
|
$
|
55,135
|
|
|
$
|
48,698
|
|
|
$
|
109,315
|
|
|
$
|
91,529
|
|
Discontinued operations:
|
|
|
|
|
|
|
|
||||||||
Income from discontinued operations
|
—
|
|
|
68
|
|
|
—
|
|
|
58
|
|
||||
Net income attributable to EPR Properties
|
55,135
|
|
|
48,766
|
|
|
109,315
|
|
|
91,587
|
|
||||
Preferred dividend requirements
|
(5,952
|
)
|
|
(5,952
|
)
|
|
(11,904
|
)
|
|
(11,904
|
)
|
||||
Net income available to common shareholders of EPR Properties
|
$
|
49,183
|
|
|
$
|
42,814
|
|
|
$
|
97,411
|
|
|
$
|
79,683
|
|
Per share data attributable to EPR Properties common shareholders:
|
|
|
|
|
|
|
|
||||||||
Basic earnings per share data:
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations
|
$
|
0.77
|
|
|
$
|
0.75
|
|
|
$
|
1.54
|
|
|
$
|
1.39
|
|
Income from discontinued operations
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Net income available to common shareholders
|
$
|
0.77
|
|
|
$
|
0.75
|
|
|
$
|
1.54
|
|
|
$
|
1.39
|
|
Diluted earnings per share data:
|
|
|
|
|
|
|
|
||||||||
Income from continuing operations
|
$
|
0.77
|
|
|
$
|
0.75
|
|
|
$
|
1.54
|
|
|
$
|
1.39
|
|
Loss from discontinued operations
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||
Net income available to common shareholders
|
$
|
0.77
|
|
|
$
|
0.75
|
|
|
$
|
1.54
|
|
|
$
|
1.39
|
|
Shares used for computation (in thousands):
|
|
|
|
|
|
|
|
||||||||
Basic
|
63,592
|
|
|
57,200
|
|
|
63,128
|
|
|
57,156
|
|
||||
Diluted
|
63,678
|
|
|
57,446
|
|
|
63,213
|
|
|
57,408
|
|
|
June 30, 2016
|
|
December 31, 2015
|
||||
Assets
|
(unaudited)
|
|
|
||||
Rental properties, net of accumulated depreciation of $583,848 and $534,303 at June 30, 2016 and December 31, 2015, respectively
|
$
|
3,331,781
|
|
|
$
|
3,025,199
|
|
Land held for development
|
22,530
|
|
|
23,610
|
|
||
Property under development
|
301,605
|
|
|
378,920
|
|
||
Mortgage notes and related accrued interest receivable
|
424,875
|
|
|
423,780
|
|
||
Investment in a direct financing lease, net
|
188,386
|
|
|
190,880
|
|
||
Investment in joint ventures
|
5,955
|
|
|
6,168
|
|
||
Cash and cash equivalents
|
8,462
|
|
|
4,283
|
|
||
Restricted cash
|
16,614
|
|
|
10,578
|
|
||
Accounts receivable, net
|
62,061
|
|
|
59,101
|
|
||
Other assets
|
97,955
|
|
|
94,751
|
|
||
Total assets
|
$
|
4,460,224
|
|
|
$
|
4,217,270
|
|
Liabilities and Equity
|
|
|
|
||||
Accounts payable and accrued liabilities
|
$
|
91,130
|
|
|
$
|
92,178
|
|
Dividends payable
|
26,312
|
|
|
24,352
|
|
||
Unearned rents and interest
|
49,798
|
|
|
44,952
|
|
||
Debt
|
2,098,265
|
|
|
1,981,920
|
|
||
Total liabilities
|
2,265,505
|
|
|
2,143,402
|
|
||
Total equity
|
$
|
2,194,719
|
|
|
$
|
2,073,868
|
|
Total liabilities and equity
|
$
|
4,460,224
|
|
|
$
|
4,217,270
|
|
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2016
|
|
2015
|
|
2016
|
|
2015
|
||||||||
FFO: (A)
|
|
|
|
|
|
|
|
||||||||
Net income available to common shareholders of EPR Properties
|
$
|
49,183
|
|
|
$
|
42,814
|
|
|
$
|
97,411
|
|
|
$
|
79,683
|
|
Gain on sale of real estate (excluding land sale)
|
(2,270
|
)
|
|
—
|
|
|
(2,270
|
)
|
|
(23,748
|
)
|
||||
Real estate depreciation and amortization
|
25,216
|
|
|
21,457
|
|
|
50,723
|
|
|
40,414
|
|
||||
Allocated share of joint venture depreciation
|
58
|
|
|
65
|
|
|
118
|
|
|
129
|
|
||||
FFO available to common shareholders of EPR Properties
|
$
|
72,187
|
|
|
$
|
64,336
|
|
|
$
|
145,982
|
|
|
$
|
96,478
|
|
|
|
|
|
|
|
|
|
||||||||
FFO available to common shareholders of EPR Properties
|
$
|
72,187
|
|
|
$
|
64,336
|
|
|
$
|
145,982
|
|
|
$
|
96,478
|
|
Add: Preferred dividends for Series C preferred shares
|
1,941
|
|
|
—
|
|
|
3,882
|
|
|
—
|
|
||||
Diluted FFO available to common shareholders of EPR Properties
|
$
|
74,128
|
|
|
$
|
64,336
|
|
|
$
|
149,864
|
|
|
$
|
96,478
|
|
|
|
|
|
|
|
|
|
||||||||
FFO per common share attributable to EPR Properties:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
1.14
|
|
|
$
|
1.12
|
|
|
$
|
2.31
|
|
|
$
|
1.69
|
|
Diluted
|
1.13
|
|
|
1.12
|
|
|
2.30
|
|
|
1.68
|
|
||||
Shares used for computation (in thousands):
|
|
|
|
|
|
|
|
||||||||
Basic
|
63,592
|
|
|
57,200
|
|
|
63,128
|
|
|
57,156
|
|
||||
Diluted
|
63,678
|
|
|
57,446
|
|
|
63,213
|
|
|
57,408
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Weighted average shares outstanding-diluted EPS
|
63,678
|
|
|
57,446
|
|
|
63,213
|
|
|
57,408
|
|
||||
Effect of dilutive Series C preferred shares
|
2,045
|
|
|
—
|
|
|
2,042
|
|
|
—
|
|
||||
Adjusted weighted average shares outstanding-diluted
|
65,723
|
|
|
57,446
|
|
|
65,255
|
|
|
57,408
|
|
||||
Other financial information:
|
|
|
|
|
|
|
|
||||||||
Straight-lined rental revenue
|
$
|
3,264
|
|
|
$
|
3,211
|
|
|
$
|
6,353
|
|
|
$
|
6,154
|
|
Termination and prepayment fees
|
$
|
2,270
|
|
|
$
|
—
|
|
|
$
|
5,864
|
|
|
$
|
—
|
|
Dividends per common share
|
$
|
0.960
|
|
|
$
|
0.908
|
|
|
$
|
1.920
|
|
|
$
|
1.815
|
|
(A)
|
NAREIT developed FFO as a relative non-GAAP financial measure of performance of an equity REIT in order to recognize that income-producing real estate historically has not depreciated on the basis determined under GAAP and management provides FFO herein because it believes this information is useful to investors in this regard. FFO is a widely used measure of the operating performance of real estate companies and is provided here as a supplemental measure to GAAP net income available to common shareholders and earnings per share. Pursuant to the definition of FFO by the Board of Governors of NAREIT, the Company calculates FFO as net income available to common shareholders, computed in accordance with GAAP, excluding gains and losses from sales [or acquisitions] of depreciable operating properties and impairment losses of depreciable real estate, plus real estate related depreciation and amortization, and after adjustments for unconsolidated partnerships, joint ventures and other affiliates. Adjustments for unconsolidated partnerships, joint ventures and other affiliates are calculated to reflect FFO on the same basis. The Company has calculated FFO for all periods presented in accordance with this definition. FFO is a non-GAAP financial measure. FFO does not represent cash flows from operations as defined by GAAP and is not indicative that cash flows are adequate to fund all cash needs and is not to be considered an alternative to net income or any other GAAP measure as a measurement of the results of our operations or our cash flows or liquidity as defined by GAAP. In addition to FFO, the Company presents FFO as adjusted. Management believes it is useful to provide it here as a supplemental measure to GAAP net income available to common shareholders and earnings per share. FFO as adjusted is FFO plus provision for loan losses, costs (gain) associated with loan refinancing or payoff, net, retirement severance expense, preferred share redemption costs, termination fees associated with tenants' exercises of public charter school buy-out options and transaction costs (benefit), less gain on early extinguishment of debt, gain (loss) on sale of land, gain on insurance recovery and deferred tax benefit (expense). FFO as adjusted is a non-GAAP financial measure. FFO as adjusted does not represent cash flows from operations as defined by GAAP and is not indicative that cash flows are adequate to fund all cash needs and is not to be considered an alternative to net income or any other GAAP measure as a measurement of the results of the Company's operations, cash flows or liquidity as defined by GAAP. It should also be noted that not all REITs calculate FFO or FFO as adjusted the same way so comparisons of each of these non-GAAP measures with other REITs may not be meaningful.
|
(B)
|
Net Debt represents debt (reported in accordance with GAAP) adjusted to exclude deferred financing costs, net and reduced for cash and cash equivalents. By excluding deferred financing costs, net and reducing debt for cash and cash equivalents on hand, the result provides an estimate of the contractual amount of borrowed capital to be repaid, net of cash available to repay it. The Company believes this calculation constitutes a beneficial supplemental non-GAAP financial disclosure to investors in understanding our financial condition. The Company's method of calculating Net Debt may be different from methods used by other REITs and, accordingly, may not be comparable to such other REITs.
|
(C)
|
Management uses Adjusted EBITDA in its analysis of the performance of the business and operations of the Company. Management believes Adjusted EBITDA is useful to investors because it excludes various items that management believes are not indicative of operating performance, and that it is an informative measure to use in computing various financial ratios to evaluate the Company. The Company defines Adjusted EBITDA as net income available to common shareholders excluding costs associated with loan refinancing or payoff, interest expense (net), depreciation and amortization, equity in (income) loss from joint ventures, gain (loss) on the sale of real estate, gain on insurance recovery, income tax expense (benefit), preferred dividend requirements, the effect of non-cash impairment charges, retirement severance expense, the provision for loan losses and transaction costs (benefit), and which is then multiplied by four to get an annual amount.
|
Supplemental Operating and Financial Data
|
||||||||
Second Quarter and Six Months Ended June 30, 2016
|
EPR Properties
|
||||||||
Supplemental Operating and Financial Data
|
||||||||
Second Quarter and Six Months Ended June 30, 2016
|
||||||||
|
|
|
|
|
|
|
|
|
Table of Contents
|
||||||||
|
|
|
|
|
|
|
|
|
Section
|
|
|
|
|
|
|
|
Page
|
|
|
|
|
|
|
|
|
|
Company Profile
|
||||||||
Investor Information
|
||||||||
Selected Financial Information
|
||||||||
Selected Balance Sheet Information
|
||||||||
Selected Operating Data
|
||||||||
Funds From Operations and Funds From Operations as Adjusted
|
||||||||
Adjusted Funds From Operations
|
||||||||
Capital Structure
|
||||||||
Summary of Ratios
|
||||||||
Summary of Mortgage Notes Receivable
|
||||||||
Capital Spending and Disposition Summaries
|
||||||||
Property Under Development - Investment Spending Estimates
|
||||||||
Financial and Total Investment by Segment
|
||||||||
Lease Expirations
|
||||||||
Top Ten Customers by Revenue from Continuing Operations
|
||||||||
Net Asset Value (NAV) Components
|
||||||||
Annualized GAAP Net Operating Income
|
||||||||
Guidance
|
||||||||
Definitions-Non-GAAP Financial Measures
|
||||||||
Appendix-Reconciliation of Certain Non-GAAP Financial Measures
|
The Company
|
Company Strategy
|
•
|
Inflection Opportunity - Renewal or restructuring in an industry’s properties
|
•
|
Enduring Value - Real estate devoted to and improving long-lived activities
|
•
|
Excellent Execution - Market-dominant performance that creates value beyond tenant credit
|
•
|
Attractive Economics - Accretive initial returns along with growth in yield
|
•
|
Advantageous Position - Sustainable competitive advantages
|
Senior Management
|
||
|
|
|
Greg Silvers
|
|
Mark Peterson
|
President and Chief Executive Officer
|
|
Executive Vice President and Chief Financial Officer
|
|
|
|
Jerry Earnest
|
|
Craig Evans
|
Senior Vice President and Chief Investment Officer
|
|
Senior Vice President, General Counsel and Secretary
|
|
|
|
Tom Wright
|
|
Mike Hirons
|
Senior Vice President - Human Resources and Administration
|
|
Senior Vice President - Strategy and Asset Management
|
|
|
|
Tonya Mater
|
|
|
Vice President and Chief Accounting Officer
|
|
|
Company Information
|
||
|
|
|
Corporate Headquarters
|
|
Trading Symbols
|
909 Walnut Street, Suite 200
|
|
Common Stock:
|
Kansas City, MO 64106
|
|
EPR
|
888-EPR-REIT
|
|
Preferred Stock:
|
www.eprkc.com
|
|
EPR-PrC
|
|
|
EPR-PrE
|
Stock Exchange Listing
|
|
EPR-PrF
|
New York Stock Exchange
|
|
|
Equity Research Coverage
|
||
|
|
|
Bank of America Merrill Lynch
|
Jane Wong
|
646-855-3378
|
Citi Global Markets
|
Michael Bilerman/Nick Joseph
|
212-816-4471
|
Janney Montgomery Scott
|
Rob Stevenson
|
646-840-3217
|
J.P. Morgan
|
Anthony Paolone
|
212-622-6682
|
Kansas City Capital Associates
|
Jonathan Braatz
|
816-932-8019
|
Keybanc Capital Markets
|
Jordan Sadler/Craig Mailman
|
917-368-2280
|
Ladenburg Thalmann
|
Daniel Donlan
|
212-409-2056
|
RBC Capital Markets
|
Richard Moore
|
440-715-2646
|
Stifel
|
Simon Yarmak
|
443-224-1345
|
EPR Properties
|
||||||||||||||||||||||||
Funds From Operations and Funds From Operations as Adjusted
|
||||||||||||||||||||||||
(Unaudited, dollars in thousands except per share information)
|
||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
2nd Quarter 2016
|
|
1st Quarter 2016
|
|
4th Quarter 2015
|
|
3rd Quarter 2015
|
|
2nd Quarter 2015
|
|
1st Quarter 2015
|
||||||||||||
Funds From Operations ("FFO") (1):
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Net income available to common shareholders of EPR Properties
|
|
$
|
49,183
|
|
|
$
|
48,228
|
|
|
$
|
46,799
|
|
|
$
|
44,244
|
|
|
$
|
42,814
|
|
|
$
|
36,869
|
|
Gain on sale of real estate (excluding land sale)
|
|
(2,270
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(23,748
|
)
|
||||||
Real estate depreciation and amortization
|
|
25,216
|
|
|
25,507
|
|
|
24,480
|
|
|
23,071
|
|
|
21,457
|
|
|
18,957
|
|
||||||
Allocated share of joint venture depreciation
|
|
58
|
|
|
60
|
|
|
62
|
|
|
64
|
|
|
65
|
|
|
64
|
|
||||||
FFO available to common shareholders of EPR Properties
|
|
$
|
72,187
|
|
|
$
|
73,795
|
|
|
$
|
71,341
|
|
|
$
|
67,379
|
|
|
$
|
64,336
|
|
|
$
|
32,142
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
FFO available to common shareholders of EPR Properties
|
|
$
|
72,187
|
|
|
$
|
73,795
|
|
|
$
|
71,341
|
|
|
$
|
67,379
|
|
|
$
|
64,336
|
|
|
$
|
32,142
|
|
Add: Preferred dividends for Series C preferred shares
|
|
1,941
|
|
|
1,941
|
|
|
1,941
|
|
|
1,941
|
|
|
—
|
|
|
—
|
|
||||||
Diluted FFO available to common shareholders
|
|
$
|
74,128
|
|
|
$
|
75,736
|
|
|
$
|
73,282
|
|
|
$
|
69,320
|
|
|
$
|
64,336
|
|
|
$
|
32,142
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Funds From Operations as adjusted (1):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
FFO available to common shareholders of EPR Properties
|
|
$
|
72,187
|
|
|
$
|
73,795
|
|
|
$
|
71,341
|
|
|
$
|
67,379
|
|
|
$
|
64,336
|
|
|
$
|
32,142
|
|
Costs associated with loan refinancing or payoff
|
|
339
|
|
|
552
|
|
|
9
|
|
|
18
|
|
|
243
|
|
|
—
|
|
||||||
Gain on insurance recovery
|
|
(1,523
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Termination fee included in gain on sale
|
|
2,270
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Transaction costs
|
|
1,490
|
|
|
444
|
|
|
700
|
|
|
783
|
|
|
4,429
|
|
|
1,606
|
|
||||||
Retirement severance expense
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
18,578
|
|
||||||
Loss (gain) on sale of land
|
|
—
|
|
|
—
|
|
|
—
|
|
|
95
|
|
|
—
|
|
|
(176
|
)
|
||||||
Deferred income tax expense (benefit)
|
|
(18
|
)
|
|
(602
|
)
|
|
(1,366
|
)
|
|
53
|
|
|
(6,711
|
)
|
|
6,888
|
|
||||||
FFO as adjusted available to common shareholders of EPR Properties
|
|
$
|
74,745
|
|
|
$
|
74,189
|
|
|
$
|
70,684
|
|
|
$
|
68,328
|
|
|
$
|
62,297
|
|
|
$
|
59,038
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
FFO as adjusted available to common shareholders of EPR Properties
|
|
$
|
74,745
|
|
|
$
|
74,189
|
|
|
$
|
70,684
|
|
|
$
|
68,328
|
|
|
$
|
62,297
|
|
|
$
|
59,038
|
|
Add: Preferred dividends for Series C preferred shares
|
|
1,941
|
|
|
1,941
|
|
|
1,941
|
|
|
1,941
|
|
|
—
|
|
|
—
|
|
||||||
Diluted FFO as adjusted available to common shareholders
|
|
$
|
76,686
|
|
|
$
|
76,130
|
|
|
$
|
72,625
|
|
|
$
|
70,269
|
|
|
$
|
62,297
|
|
|
$
|
59,038
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
FFO per common share attributable to EPR Properties:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Basic
|
|
$
|
1.14
|
|
|
$
|
1.18
|
|
|
$
|
1.19
|
|
|
$
|
1.16
|
|
|
$
|
1.12
|
|
|
$
|
0.56
|
|
Diluted
|
|
1.13
|
|
|
1.17
|
|
|
1.18
|
|
|
1.15
|
|
|
1.12
|
|
|
0.56
|
|
||||||
FFO as adjusted per common share attributable to EPR Properties:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Basic
|
|
$
|
1.18
|
|
|
$
|
1.18
|
|
|
$
|
1.18
|
|
|
$
|
1.18
|
|
|
$
|
1.09
|
|
|
$
|
1.03
|
|
Diluted
|
|
1.17
|
|
|
1.18
|
|
|
1.17
|
|
|
1.17
|
|
|
1.08
|
|
|
1.03
|
|
||||||
Shares used for computation (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Basic
|
|
63,592
|
|
|
62,664
|
|
|
60,125
|
|
|
58,083
|
|
|
57,200
|
|
|
57,111
|
|
||||||
Diluted
|
|
63,678
|
|
|
62,744
|
|
|
60,205
|
|
|
58,278
|
|
|
57,446
|
|
|
57,378
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Weighted average shares outstanding-diluted EPS
|
|
63,678
|
|
|
62,744
|
|
|
60,205
|
|
|
58,278
|
|
|
57,446
|
|
|
57,378
|
|
||||||
Effect of dilutive Series C preferred shares
|
|
2,045
|
|
|
2,038
|
|
|
2,029
|
|
|
2,022
|
|
|
—
|
|
|
—
|
|
||||||
Adjusted weighted-average shares outstanding-diluted
|
|
65,723
|
|
|
64,782
|
|
|
62,234
|
|
|
60,300
|
|
|
57,446
|
|
|
57,378
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
(1) See pages 31 through 33 for definitions.
|
|
|
|
|
|
|
|
|
|
|
|
|
EPR Properties
|
||||||||
Capital Structure at June 30, 2016 and December 31, 2015
|
||||||||
(Unaudited, dollars in thousands)
|
||||||||
|
|
|
|
|
||||
Consolidated Debt (continued)
|
||||||||
|
|
|
|
|
||||
Summary of Debt:
|
|
|
|
|
||||
|
|
June 30, 2016
|
|
December 31, 2015
|
||||
|
|
|
|
|
||||
Mortgage note payable, 7.37%, paid in full on February 18, 2016
|
|
—
|
|
|
4,813
|
|
||
Note payable, 2.50%, paid in full on April 21, 2016
|
|
—
|
|
|
1,850
|
|
||
Mortgage notes payable, 6.37%, paid in full on May 2, 2016
|
|
—
|
|
|
24,754
|
|
||
Mortgage notes payable, 6.10%, due October 1, 2016
|
|
21,836
|
|
|
22,235
|
|
||
Mortgage notes payable, 6.02%, due October 6, 2016
|
|
16,436
|
|
|
16,738
|
|
||
Mortgage note payable, 6.06%, due March 1, 2017
|
|
8,795
|
|
|
9,381
|
|
||
Mortgage note payable, 6.07%, due April 6, 2017
|
|
9,501
|
|
|
9,667
|
|
||
Mortgage notes payable, 5.73%-5.95%, due May 1, 2017
|
|
31,053
|
|
|
31,603
|
|
||
Mortgage notes payable, 4.00%, due July 6, 2017
|
|
91,742
|
|
|
93,616
|
|
||
Mortgage note payable, 5.29%, due July 8, 2017
|
|
3,377
|
|
|
3,455
|
|
||
Mortgage notes payable, 5.86% due August 1, 2017
|
|
22,542
|
|
|
22,931
|
|
||
Mortgage note payable, 6.19%, due February 1, 2018
|
|
12,817
|
|
|
13,171
|
|
||
Unsecured revolving variable rate credit facility, LIBOR + 1.25%, due April 24, 2019
|
|
347,000
|
|
|
196,000
|
|
||
Unsecured term loan payable, LIBOR + 1.40%, $300,000 fixed through interest rate swaps at a blended rate of 3.18% through April 5, 2019, due April 24, 2020
|
|
350,000
|
|
|
350,000
|
|
||
Senior unsecured notes payable, 7.75%, due July 15, 2020
|
|
250,000
|
|
|
250,000
|
|
||
Senior unsecured notes payable, 5.75%, due August 15, 2022
|
|
350,000
|
|
|
350,000
|
|
||
Senior unsecured notes payable, 5.25%, due July 15, 2023
|
|
275,000
|
|
|
275,000
|
|
||
Senior unsecured notes payable, 4.50%, due April 1, 2025
|
|
300,000
|
|
|
300,000
|
|
||
Bonds payable, variable rate, due October 1, 2037
|
|
24,995
|
|
|
24,995
|
|
||
Less: deferred financing costs, net
|
|
(16,829
|
)
|
|
(18,289
|
)
|
||
Total debt
|
|
$
|
2,098,265
|
|
|
$
|
1,981,920
|
|
|
|
|
|
|
||||
|
EPR Properties
|
||||||||||||||||||||
Capital Structure
|
||||||||||||||||||||
Senior Notes
|
||||||||||||||||||||
(Unaudited, dollars in thousands)
|
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Covenant Calculations
|
||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Total Assets:
|
|
June 30, 2016
|
|
|
|
Total Debt:
|
|
|
|
June 30, 2016
|
||||||||||
Total Assets per balance sheet
|
|
$
|
4,460,224
|
|
|
|
|
Secured debt obligations
|
|
$
|
243,094
|
|
||||||||
Add: accumulated depreciation
|
|
583,848
|
|
|
|
|
Unsecured debt obligations:
|
|
|
|||||||||||
Less: intangible assets
|
|
(14,681
|
)
|
|
|
|
Unsecured debt
|
|
1,872,000
|
|
||||||||||
Total Assets
|
|
$
|
5,029,391
|
|
|
|
|
Outstanding letters of credit
|
|
—
|
|
|||||||||
|
|
|
|
|
|
Guarantees
|
|
22,929
|
|
|||||||||||
|
|
|
|
|
|
Derivatives at fair market value, net, if liability
|
|
—
|
|
|||||||||||
|
|
|
|
|
|
Total unsecured debt obligations:
|
|
1,894,929
|
|
|||||||||||
Total Unencumbered Assets:
|
|
June 30, 2016
|
|
|
|
Total Debt
|
|
$
|
2,138,023
|
|
||||||||||
Unencumbered real estate assets, gross
|
|
$
|
4,162,071
|
|
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
|
8,462
|
|
|
|
|
|
|
|
|
|
|||||||||
Land held for development
|
|
22,530
|
|
|
|
|
|
|
|
|
|
|||||||||
Property under development
|
|
301,605
|
|
|
|
|
|
|
|
|
|
|||||||||
Total Unencumbered Assets
|
|
$
|
4,494,668
|
|
|
|
|
|
|
|
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Consolidated Income Available for Debt Service:
|
|
2nd Quarter 2016
|
|
1st Quarter 2016
|
|
4th Quarter 2015
|
|
3rd Quarter 2015
|
|
Trailing Twelve Months
|
||||||||||
Adjusted EBITDA (1)
|
|
$
|
101,930
|
|
|
$
|
104,064
|
|
|
$
|
97,962
|
|
|
$
|
95,306
|
|
|
$
|
399,262
|
|
Less: straight-line rental revenue
|
|
(3,264
|
)
|
|
(3,089
|
)
|
|
(3,267
|
)
|
|
(2,738
|
)
|
|
(12,358
|
)
|
|||||
Consolidated Income Available for Debt Service
|
|
$
|
98,666
|
|
|
$
|
100,975
|
|
|
$
|
94,695
|
|
|
$
|
92,568
|
|
|
$
|
386,904
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Annual Debt Service:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest expense, gross
|
|
$
|
25,516
|
|
|
$
|
25,580
|
|
|
$
|
25,076
|
|
|
$
|
25,300
|
|
|
$
|
101,472
|
|
Less: deferred financing fees amortization
|
|
(1,163
|
)
|
|
(1,172
|
)
|
|
(1,163
|
)
|
|
(1,156
|
)
|
|
(4,654
|
)
|
|||||
Annual Debt Service
|
|
$
|
24,353
|
|
|
$
|
24,408
|
|
|
$
|
23,913
|
|
|
$
|
24,144
|
|
|
$
|
96,818
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Debt Service Coverage
|
|
4.1
|
|
|
4.1
|
|
|
4.0
|
|
|
3.8
|
|
|
4.0
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
(1) Includes discontinued operations.
|
|
|
|
|
|
|
|
|
|
|
EPR Properties
|
|
||||||||
Summary of Mortgage Notes Receivable
|
|
||||||||
(Unaudited, dollars in thousands)
|
|
||||||||
|
|
|
|
|
|
||||
Summary of Mortgage Notes Receivable
|
|
||||||||
|
|
|
|
|
|
||||
|
|
June 30, 2016
|
|
December 31, 2015
|
|
||||
Mortgage note and related accrued interest receivable, 9.50%, paid in full January 5, 2016
|
|
$
|
—
|
|
|
$
|
19,944
|
|
|
Mortgage note and related accrued interest receivable, 9.75%, paid in full April 22, 2016
|
|
—
|
|
|
22,188
|
|
|
||
Mortgage note, 9.00%, due September 30, 2016
|
|
1,315
|
|
|
1,257
|
|
|
||
Mortgage note receivable, 5.50%, due November 1, 2016
|
|
2,500
|
|
|
2,500
|
|
|
||
Mortgage note receivable and related accrued interest receivable, 9.00%, due March 11, 2017
|
|
1,454
|
|
|
1,454
|
|
|
||
Mortgage notes, 7.00% to 10.00%, due May 1, 2019
|
|
164,743
|
|
|
164,543
|
|
|
||
Mortgage note and related accrued interest receivable, 10.65%, due June 28, 2032
|
|
36,032
|
|
|
36,032
|
|
|
||
Mortgage note and related accrued interest receivable, 9.00%, due December 31, 2032
|
|
5,400
|
|
|
5,469
|
|
|
||
Mortgage notes and related accrued interest receivable, 9.50%, due April 30, 2033
|
|
30,958
|
|
|
30,680
|
|
|
||
Mortgage note and related accrued interest receivable, 10.25%, due June 30, 2033
|
|
3,498
|
|
|
3,488
|
|
|
||
Mortgage note, 11.31%, due July 1, 2033
|
|
12,659
|
|
|
12,781
|
|
|
||
Mortgage note and related accrued interest receivable, 8.50%, due June 30, 2034
|
|
7,236
|
|
|
4,900
|
|
|
||
Mortgage note and related accrued interest receivable, 9.50%, due August 31, 2034
|
|
12,431
|
|
|
12,392
|
|
|
||
Mortgage note and related accrued interest receivable, 11.10%, due December 1, 2034
|
|
51,250
|
|
|
51,450
|
|
|
||
Mortgage notes, 10.13%, due December 1, 2034
|
|
37,562
|
|
|
37,562
|
|
|
||
Mortgage note, 10.40%, due December 1, 2034
|
|
4,550
|
|
|
4,550
|
|
|
||
Mortgage note, 8.00%, due January 5, 2036
|
|
21,000
|
|
|
—
|
|
|
||
Mortgage note and related accrued interest receivable, 10.25%, due July 1, 2036
|
|
17,307
|
|
|
9,147
|
|
|
||
Mortgage note and related accrued interest receivable, 9.75%, due October 1, 2036
|
|
13,444
|
|
|
3,443
|
|
|
||
Mortgage note, 9.75%, due December 31, 2036
|
|
1,536
|
|
|
—
|
|
|
||
Total mortgage notes and related accrued interest receivable
|
|
$
|
424,875
|
|
|
$
|
423,780
|
|
|
|
|
|
|
|
|
||||
Payments Due on Mortgage Notes Receivable
|
|
||||||||
|
|
|
|
|
|
||||
|
|
As of June 30, 2016
|
|
|
|
||||
Year:
|
|
|
|
|
|
||||
2016
|
|
$
|
4,990
|
|
|
|
|
||
2017
|
|
2,480
|
|
|
|
|
|||
2018
|
|
928
|
|
|
|
|
|||
2019
|
|
165,774
|
|
|
|
|
|||
2020
|
|
1,143
|
|
|
|
|
|||
Thereafter
|
|
249,560
|
|
|
|
|
|||
Total
|
|
$
|
424,875
|
|
|
|
|
||
|
|
|
|
|
|
EPR Properties
|
||||||||||||
Capital Spending and Disposition Summaries
|
||||||||||||
(Unaudited, dollars in thousands)
|
||||||||||||
|
|
|
|
|
|
|
|
|
||||
2016 Capital Spending:
|
|
|
|
|
|
|
|
|
||||
Description
|
|
Location
|
|
Operating Segment
|
|
Capital Spending Three Months Ended June 30, 2016
|
|
Capital Spending Six Months Ended June 30, 2016
|
||||
Development and redevelopment of megaplex theatres
|
|
various
|
|
Entertainment
|
|
$
|
9,726
|
|
|
$
|
18,570
|
|
Acquisition of megaplex theatres
|
|
various
|
|
Entertainment
|
|
94,754
|
|
|
94,754
|
|
||
Development of other entertainment and retail projects
|
|
various
|
|
Entertainment
|
|
12,142
|
|
|
13,998
|
|
||
Acquisition of family entertainment center
|
|
Marietta, GA
|
|
Entertainment
|
|
—
|
|
|
14,988
|
|
||
Investment in mortgage note receivable for entertainment retail center
|
|
Charlotte, NC
|
|
Entertainment
|
|
—
|
|
|
22,000
|
|
||
Investment in mortgage notes receivable for public charter schools
|
|
various
|
|
Education
|
|
1,913
|
|
|
4,291
|
|
||
Development of public charter school properties
|
|
various
|
|
Education
|
|
24,975
|
|
|
43,353
|
|
||
Development of early childhood education centers
|
|
various
|
|
Education
|
|
35,809
|
|
|
56,051
|
|
||
Development of private school properties
|
|
various
|
|
Education
|
|
7,669
|
|
|
12,494
|
|
||
Development of Topgolf golf entertainment facilities
|
|
various
|
|
Recreation
|
|
37,152
|
|
|
66,792
|
|
||
Investment in mortgage note receivable for ski resort
|
|
Hunter, NY
|
|
Recreation
|
|
—
|
|
|
21,000
|
|
||
Additions to mortgage note receivable for development of excess land at Schlitterbahn waterpark
|
|
various
|
|
Recreation
|
|
200
|
|
|
200
|
|
||
Development of Camelback Mountain Resort
|
|
Tannersville, PA
|
|
Recreation
|
|
1,472
|
|
|
1,472
|
|
||
Redevelopment of ski property
|
|
Bellfontaine, OH
|
|
Recreation
|
|
100
|
|
|
100
|
|
||
Investment in waterpark hotel for casino and resort project
|
|
Sullivan County, NY
|
|
Recreation
|
|
695
|
|
|
1,496
|
|
||
Investment in casino and resort project
|
|
Sullivan County, NY
|
|
Other
|
|
52
|
|
|
238
|
|
||
Total investment spending
|
|
|
|
|
|
$
|
226,659
|
|
|
$
|
371,797
|
|
Infrastructure spending for casino and resort project (1)
|
|
Sullivan County, NY
|
|
Other
|
|
10,916
|
|
|
17,099
|
|
||
Other capital acquisitions, net
|
|
various
|
|
n/a
|
|
1,606
|
|
|
2,616
|
|
||
Total capital spending
|
|
|
|
|
|
$
|
239,181
|
|
|
$
|
391,512
|
|
|
|
|
|
|
|
|
|
|
||||
2016 Dispositions and Mortgage Note Payoffs:
|
|
|
|
|
|
|
|
|
||||
Description
|
|
Location
|
|
Date of Disposition or Payoff
|
|
Net Proceeds
|
|
|
||||
Land easement sale
|
|
D'Iberville, MS
|
|
January 2016
|
|
$
|
397
|
|
|
|
||
Sale of excess land
|
|
Sullivan County, NY
|
|
February 2016
|
|
1,523
|
|
|
|
|||
Sale of public charter school property
|
|
Highlands Ranch, CO
|
|
April 2016
|
|
11,209
|
|
|
|
|||
Sale of public charter school property
|
|
Marietta, GA
|
|
April 2016
|
|
825
|
|
|
|
|||
Mortgage note payoff of public charter school property
|
|
Washington D.C.
|
|
January 2016
|
|
19,320
|
|
|
|
|||
Mortgage note payoff of entertainment retail center
|
|
Charlotte, NC
|
|
April 2016
|
|
44,000
|
|
|
|
EPR Properties
|
||||||||||||||||||||||
Financial Information by Segment
|
||||||||||||||||||||||
For the Three Months Ended June 30, 2016
|
||||||||||||||||||||||
(Unaudited, dollars in thousands)
|
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
Entertainment
|
Education
|
Recreation
|
Other
|
Subtotal
|
Corporate/Unallocated
|
Consolidated
|
||||||||||||||
Rental revenue
|
|
$
|
61,258
|
|
$
|
17,717
|
|
$
|
14,789
|
|
$
|
2,291
|
|
$
|
96,055
|
|
$
|
—
|
|
$
|
96,055
|
|
Tenant reimbursements
|
|
3,891
|
|
—
|
|
—
|
|
—
|
|
3,891
|
|
—
|
|
3,891
|
|
|||||||
Other income
|
|
210
|
|
—
|
|
1,321
|
|
—
|
|
1,531
|
|
595
|
|
2,126
|
|
|||||||
Mortgage and other financing income
|
|
1,481
|
|
7,178
|
|
7,268
|
|
34
|
|
15,961
|
|
—
|
|
15,961
|
|
|||||||
Total revenue
|
|
66,840
|
|
24,895
|
|
23,378
|
|
2,325
|
|
117,438
|
|
595
|
|
118,033
|
|
|||||||
|
|
|
|
|
|
|
|
|
||||||||||||||
Property operating expense
|
|
5,335
|
|
—
|
|
—
|
|
103
|
|
5,438
|
|
142
|
|
5,580
|
|
|||||||
Total investment expenses
|
|
5,335
|
|
—
|
|
—
|
|
103
|
|
5,438
|
|
142
|
|
5,580
|
|
|||||||
General and administrative expense
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
9,000
|
|
9,000
|
|
|||||||
Less: gain on insurance recovery (1)
|
|
202
|
|
—
|
|
1,321
|
|
—
|
|
1,523
|
|
—
|
|
1,523
|
|
|||||||
Adjusted EBITDA (2)
|
|
$
|
61,303
|
|
$
|
24,895
|
|
$
|
22,057
|
|
$
|
2,222
|
|
$
|
110,477
|
|
$
|
(8,547
|
)
|
$
|
101,930
|
|
|
|
55
|
%
|
23
|
%
|
20
|
%
|
2
|
%
|
100
|
%
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
||||||||||||||
Reconciliation to Consolidated Statements of Income:
|
|
|
|
|
|
|
||||||||||||||||
Costs associated with loan refinancing or payoff
|
|
|
|
|
(339
|
)
|
(339
|
)
|
||||||||||||||
Interest expense, net
|
|
|
|
|
|
|
(22,756
|
)
|
(22,756
|
)
|
||||||||||||
Transaction costs
|
|
|
|
|
|
|
(1,490
|
)
|
(1,490
|
)
|
||||||||||||
Depreciation and amortization
|
|
|
|
|
|
|
(25,666
|
)
|
(25,666
|
)
|
||||||||||||
Equity in income from joint ventures
|
|
|
|
|
|
|
86
|
|
86
|
|
||||||||||||
Gain on sale of real estate
|
|
|
|
|
2,270
|
|
2,270
|
|
||||||||||||||
Income tax expense
|
|
|
|
|
|
|
(423
|
)
|
(423
|
)
|
||||||||||||
Gain on insurance recovery (1)
|
|
|
|
|
|
|
1,523
|
|
1,523
|
|
||||||||||||
Net income attributable to EPR Properties
|
|
|
|
|
|
55,135
|
|
|||||||||||||||
Preferred dividend requirements
|
|
|
|
|
|
|
(5,952
|
)
|
(5,952
|
)
|
||||||||||||
Net income available to common shareholders of EPR Properties
|
|
|
|
|
$
|
49,183
|
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||||||
(1) Included in other income. See reconciliation on page 41.
|
|
|||||||||||||||||||||
(2) See pages 31 through 33 for definitions
|
|
EPR Properties
|
||||||||||||||||||||||
Financial Information by Segment
|
||||||||||||||||||||||
For the Six Months Ended June 30, 2016
|
||||||||||||||||||||||
(Unaudited, dollars in thousands)
|
||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||||||
|
|
Entertainment
|
Education
|
Recreation
|
Other
|
Subtotal
|
Corporate/Unallocated
|
Consolidated
|
||||||||||||||
Rental revenue
|
|
$
|
121,396
|
|
$
|
34,897
|
|
$
|
29,485
|
|
$
|
4,055
|
|
$
|
189,833
|
|
$
|
—
|
|
$
|
189,833
|
|
Tenant reimbursements
|
|
7,754
|
|
2
|
|
—
|
|
—
|
|
7,756
|
|
—
|
|
7,756
|
|
|||||||
Other income
|
|
214
|
|
—
|
|
1,810
|
|
—
|
|
2,024
|
|
1,312
|
|
3,336
|
|
|||||||
Mortgage and other financing income
|
|
3,633
|
|
17,909
|
|
14,266
|
|
68
|
|
35,876
|
|
—
|
|
35,876
|
|
|||||||
Total revenue
|
|
132,997
|
|
52,808
|
|
45,561
|
|
4,123
|
|
235,489
|
|
1,312
|
|
236,801
|
|
|||||||
|
|
|
|
|
|
|
|
|
||||||||||||||
Property operating expense
|
|
10,587
|
|
—
|
|
8
|
|
186
|
|
10,781
|
|
280
|
|
11,061
|
|
|||||||
Other expense
|
|
—
|
|
—
|
|
—
|
|
5
|
|
5
|
|
—
|
|
5
|
|
|||||||
Total investment expenses
|
|
10,587
|
|
—
|
|
8
|
|
191
|
|
10,786
|
|
280
|
|
11,066
|
|
|||||||
General and administrative expense
|
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
18,218
|
|
18,218
|
|
|||||||
Less: gain on insurance recovery (1)
|
|
202
|
|
—
|
|
1,810
|
|
—
|
|
2,012
|
|
—
|
|
2,012
|
|
|||||||
Adjusted EBITDA (2)
|
|
$
|
122,208
|
|
$
|
52,808
|
|
$
|
43,743
|
|
$
|
3,932
|
|
$
|
222,691
|
|
$
|
(17,186
|
)
|
$
|
205,505
|
|
|
|
55
|
%
|
23
|
%
|
20
|
%
|
2
|
%
|
100
|
%
|
|
|
|||||||||
|
|
|
|
|
|
|
|
|
||||||||||||||
Reconciliation to Consolidated Statements of Income:
|
|
|
|
|
|
|
||||||||||||||||
Costs associated with loan refinancing or payoff
|
|
|
|
|
(891
|
)
|
(891
|
)
|
||||||||||||||
Interest expense, net
|
|
|
|
|
|
|
(46,045
|
)
|
(46,045
|
)
|
||||||||||||
Transaction costs
|
|
|
|
|
|
|
(1,934
|
)
|
(1,934
|
)
|
||||||||||||
Depreciation and amortization
|
|
|
|
|
|
|
(51,621
|
)
|
(51,621
|
)
|
||||||||||||
Equity in income from joint ventures
|
|
|
|
|
|
|
298
|
|
298
|
|
||||||||||||
Gain on sale of real estate
|
|
|
|
|
|
|
2,270
|
|
2,270
|
|
||||||||||||
Income tax expense
|
|
|
|
|
|
|
(279
|
)
|
(279
|
)
|
||||||||||||
Gain on insurance recovery (1)
|
|
|
|
|
|
|
2,012
|
|
2,012
|
|
||||||||||||
Net income attributable to EPR Properties
|
|
|
|
|
|
109,315
|
|
|||||||||||||||
Preferred dividend requirements
|
|
|
|
|
|
|
(11,904
|
)
|
(11,904
|
)
|
||||||||||||
Net income available to common shareholders of EPR Properties
|
|
|
|
$
|
97,411
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||||||||
(1) Included in other income. See reconciliation on page 41.
|
|
|||||||||||||||||||||
(2) See pages 31 through 33 for definitions
|
|
EPR Properties
|
|||||||||||||
Top Ten Customers by Revenue from Continuing Operations
|
|||||||||||||
(Unaudited, dollars in thousands)
|
|||||||||||||
|
|
|
|
|
|
|
|
|
|
||||
|
|
|
Total Revenue For The
|
|
|
|
Total Revenue For The
|
|
|
||||
|
|
|
Three Months Ended
|
|
Percentage of
|
|
Six Months Ended
|
|
Percentage of
|
||||
|
Customers
|
Asset Type
|
June 30, 2016
|
|
Total Revenue
|
|
June 30, 2016
|
|
Total Revenue
|
||||
|
|
|
|
|
|
|
|
|
|
||||
1.
|
AMC Theatres
|
Entertainment
|
$
|
21,794
|
|
|
18%
|
|
$
|
43,563
|
|
|
18%
|
2.
|
Regal Entertainment Group
|
Entertainment
|
10,495
|
|
|
9%
|
|
21,114
|
|
|
9%
|
||
3.
|
Topgolf
|
Recreation
|
9,527
|
|
|
8%
|
|
18,745
|
|
|
8%
|
||
4.
|
Cinemark
|
Entertainment
|
8,586
|
|
|
7%
|
|
16,973
|
|
|
7%
|
||
5.
|
Imagine Schools
|
Education
|
5,724
|
|
|
5%
|
|
11,471
|
|
|
5%
|
||
6.
|
Carmike Cinemas
|
Entertainment
|
4,904
|
|
|
4%
|
|
9,791
|
|
|
4%
|
||
7.
|
Camelback Resort
|
Recreation
|
4,708
|
|
|
4%
|
|
9,413
|
|
|
4%
|
||
8.
|
Southern Theatres
|
Entertainment
|
3,374
|
|
|
3%
|
|
6,520
|
|
|
3%
|
||
9.
|
Schlitterbahn
|
Recreation
|
3,359
|
|
|
3%
|
|
6,721
|
|
|
3%
|
||
10.
|
Peak Resorts
|
Recreation
|
3,234
|
|
|
3%
|
|
6,421
|
|
|
3%
|
||
|
|
|
|
|
|
|
|
|
|
||||
|
Total
|
|
$
|
75,705
|
|
|
64%
|
|
$
|
150,732
|
|
|
64%
|
EPR Properties
|
||||||||||||||
Net Asset Value (NAV) Components
|
||||||||||||||
As of June 30, 2016
|
||||||||||||||
(Unaudited, dollars and shares in thousands)
|
||||||||||||||
|
|
|
|
|
|
|
||||||||
Annualized Cash Net Operating Income (NOI) Run Rate (for NAV calculations) (1)
|
|
|||||||||||||
|
Owned
|
|
Financed
|
|
Total
|
|
||||||||
Megaplex
|
$
|
202,004
|
|
|
$
|
1,072
|
|
|
$
|
203,076
|
|
|
||
ERC's/Retail
|
42,996
|
|
|
—
|
|
|
42,996
|
|
|
|||||
Other Entertainment
|
4,416
|
|
|
3,812
|
|
|
8,228
|
|
|
|||||
Entertainment
|
249,416
|
|
|
4,884
|
|
|
254,300
|
|
|
|||||
|
|
|
|
|
|
|
||||||||
Public Charter Schools
|
37,208
|
|
|
24,672
|
|
|
61,880
|
|
|
|||||
Early Childhood Education
|
13,036
|
|
|
—
|
|
|
13,036
|
|
|
|||||
Private Schools
|
12,848
|
|
|
—
|
|
|
12,848
|
|
|
|||||
Education
|
63,092
|
|
|
24,672
|
|
|
87,764
|
|
|
|||||
|
|
|
|
|
|
|
||||||||
Ski Areas
|
9,428
|
|
|
11,648
|
|
|
21,076
|
|
|
|||||
Waterparks
|
15,412
|
|
|
14,948
|
|
|
30,360
|
|
|
|||||
Golf Entertainment Complexes
|
34,136
|
|
|
4,256
|
|
|
38,392
|
|
|
|||||
Recreation
|
58,976
|
|
|
30,852
|
|
|
89,828
|
|
|
|||||
|
|
|
|
|
|
|
||||||||
Annualized cash NOI run rate
|
$
|
371,484
|
|
|
$
|
60,408
|
|
|
$
|
431,892
|
|
|
||
|
|
|
|
|
|
|
||||||||
Other NAV Components
|
||||||||||||||
Assets
|
|
Liabilities
|
||||||||||||
Property under development
|
$
|
301,605
|
|
|
Long-term debt (2)
|
$
|
2,115,094
|
|
||||||
Land held for development
|
22,530
|
|
|
Series E liquidation value
|
86,250
|
|
||||||||
Adelaar land in-service
|
153,996
|
|
|
Series F liquidation value
|
125,000
|
|
||||||||
Investment in joint ventures
|
5,955
|
|
|
Accounts payable and accrued liabilties
|
91,130
|
|
||||||||
Cash and cash equivalents
|
8,462
|
|
|
Preferred dividends payable
|
5,952
|
|
||||||||
Restricted cash
|
16,614
|
|
|
Unearned rents and interest (4)
|
21,325
|
|
||||||||
Accounts receivable, net (3)
|
4,203
|
|
|
|
|
|||||||||
Prepaid expenses and other current assets (5)
|
66,819
|
|
|
|
|
|||||||||
|
|
|
|
|
|
|
||||||||
Shares
|
|
|
|
|
|
|||||||||
Common shares outstanding
|
63,625
|
|
|
|
|
|
|
|||||||
Effect of dilutive securities - share options
|
86
|
|
|
|
|
|
|
|||||||
Effect of dilutive Series C preferred shares
|
2,045
|
|
|
|
|
|
|
|||||||
Diluted shares outstanding
|
65,756
|
|
|
|
|
|
|
EPR Properties
|
||||||||||||
Annualized GAAP Net Operating Income
|
||||||||||||
As of June 30, 2016
|
||||||||||||
(Unaudited, dollars in thousands)
|
||||||||||||
|
|
|
|
|
|
|
||||||
Annualized GAAP Net Operating Income (NOI) Run Rate (1)
|
||||||||||||
|
Owned
|
|
Financed
|
|
Total
|
|
||||||
Megaplex
|
$
|
203,476
|
|
|
$
|
1,072
|
|
|
$
|
204,548
|
|
|
ERC's/Retail
|
41,000
|
|
|
—
|
|
|
41,000
|
|
|
|||
Other Entertainment
|
4,460
|
|
|
3,812
|
|
|
8,272
|
|
|
|||
Entertainment
|
248,936
|
|
|
4,884
|
|
|
253,820
|
|
|
|||
|
|
|
|
|
|
|
||||||
Public Charter Schools
|
46,068
|
|
|
28,740
|
|
|
74,808
|
|
|
|||
Early Childhood Education
|
14,700
|
|
|
—
|
|
|
14,700
|
|
|
|||
Private Schools
|
14,096
|
|
|
—
|
|
|
14,096
|
|
|
|||
Education
|
74,864
|
|
|
28,740
|
|
|
103,604
|
|
|
|||
|
|
|
|
|
|
|
||||||
Ski Areas
|
9,700
|
|
|
11,648
|
|
|
21,348
|
|
|
|||
Waterparks
|
15,412
|
|
|
14,948
|
|
|
30,360
|
|
|
|||
Golf Entertainment Complexes
|
34,880
|
|
|
4,256
|
|
|
39,136
|
|
|
|||
Recreation
|
59,992
|
|
|
30,852
|
|
|
90,844
|
|
|
|||
|
|
|
|
|
|
|
||||||
Annualized GAAP NOI run rate
|
$
|
383,792
|
|
|
$
|
64,476
|
|
|
$
|
448,268
|
|
|
|
|
|
|
|
|
|
Measure
|
|
|
|
2016 Guidance
|
||||||
|
|
YTD Actuals
|
|
Current
|
|
Prior
|
||||
Investment spending
|
|
$371.8
|
|
$650.0
|
to
|
$700.0
|
|
$600.0
|
to
|
$650.0
|
Disposition proceeds and mortgage note payoff
|
|
$77.3
|
|
$77.3
|
to
|
$175.0
|
|
$75.0
|
to
|
$175.0
|
|
|
|
|
|
|
|
|
|
|
|
Prepayment fee - public charter schools (2)
|
|
$3.6
|
|
$3.6
|
|
|
|
$3.6
|
|
|
Termination fee - public charter schools (3)
|
|
$2.3
|
|
$3.8
|
to
|
$4.8
|
|
$2.4
|
to
|
$3.9
|
Percentage rent
|
|
$1.0
|
|
$3.7
|
to
|
$4.1
|
|
$3.4
|
to
|
$3.8
|
Participating interest income
|
|
$—
|
|
$1.2
|
to
|
$1.6
|
|
$1.2
|
to
|
$1.6
|
General and administrative expense
|
|
$18.2
|
|
$36.5
|
to
|
$37.5
|
|
$34.0
|
to
|
$35.0
|
|
|
|
|
|
|
|
|
|
|
|
FFO per diluted share (1)
|
|
$2.30
|
|
$4.62
|
to
|
$4.70
|
|
$4.62
|
to
|
$4.68
|
FFO as adjusted per diluted share (1)
|
|
$2.33
|
|
$4.72
|
to
|
$4.82
|
|
$4.70
|
to
|
$4.80
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation from Net income available to common shareholders of EPR Properties (per diluted share):
|
|
YTD Actuals
|
|
2016 Current Guidance
|
|
|
|
|
||
Net income available to common shareholders of EPR Properties
|
|
$1.54
|
|
$3.03
|
to
|
$3.13
|
|
|
|
|
Gain on sale of real estate (excluding land sales) (3)
|
|
(0.03)
|
|
(0.06)
|
to
|
(0.08)
|
|
|
|
|
Real estate depreciation and amortization
|
|
0.80
|
|
1.67
|
|
|
|
|
||
Allocated share of joint venture depreciation
|
|
—
|
|
—
|
|
|
|
|
||
Impact of Series C Dilution
|
|
(0.01)
|
|
(0.02)
|
|
|
|
|
||
FFO available to common shareholders of EPR Properties (1)
|
|
$2.30
|
|
$4.62
|
to
|
$4.70
|
|
|
|
|
Costs associated with loan refinancing or payoff
|
|
0.01
|
|
0.01
|
|
|
|
|
||
Gain on insurance recovery (4)
|
|
(0.03)
|
|
(0.03)
|
|
|
|
|
||
Transaction costs
|
|
0.03
|
|
0.07
|
|
|
|
|
||
Termination fee - public charter schools (3)
|
|
0.03
|
|
0.06
|
to
|
0.08
|
|
|
|
|
Deferred income tax expense
|
|
(0.01)
|
|
(0.01)
|
|
|
|
|
||
FFO as adjusted available to common shareholders of EPR Properties (1)
|
|
$2.33
|
|
$4.72
|
to
|
$4.82
|
|
|
|
|
Appendix to Supplemental Operating and Financial Data
|
||||||||
Reconciliation of Certain Non-GAAP Financial Measures
|
||||||||
Second Quarter and Six Months Ended June 30, 2016
|
EPR Properties
|
||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of Net Asset Value (NAV) Components
|
||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited, dollars in thousands)
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Annualized Net Operating Income (NOI) Run Rates - Owned Properties (for NAV calculations)
|
||||||||||||||||||||||||||||||||||||||||||||||
For the three months ended June 30, 2016
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||
|
Entertainment
|
|
Education
|
|
Recreation
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
|
Megaplex
|
ERC's/Retail
|
Other Entertainment
|
Entertainment Total
|
|
Public Charter Schools
|
Early Childhood Education
|
Private Schools
|
Education Total
|
|
Ski Areas
|
Waterparks
|
Golf Entertainment Complexes
|
Recreation Total
|
|
Corporate/unallocated and other
|
|
Total
|
||||||||||||||||||||||||||||
Total revenue
|
$
|
48,845
|
|
$
|
15,397
|
|
$
|
1,117
|
|
$
|
65,359
|
|
|
$
|
10,649
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
17,717
|
|
|
$
|
3,731
|
|
$
|
3,853
|
|
$
|
8,526
|
|
$
|
16,110
|
|
|
$
|
2,886
|
|
|
$
|
102,072
|
|
Property operating expense
|
208
|
|
5,157
|
|
(30
|
)
|
5,335
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
245
|
|
|
5,580
|
|
||||||||||||||
Total investment expense
|
208
|
|
5,157
|
|
(30
|
)
|
5,335
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
245
|
|
|
5,580
|
|
||||||||||||||
General and administrative expense
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(9,000
|
)
|
|
(9,000
|
)
|
||||||||||||||
Less: gain on insurance recovery
|
—
|
|
(202
|
)
|
—
|
|
(202
|
)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(1,321
|
)
|
—
|
|
—
|
|
(1,321
|
)
|
|
—
|
|
|
(1,523
|
)
|
||||||||||||||
Adjusted EBITDA
|
$
|
48,637
|
|
$
|
10,038
|
|
$
|
1,147
|
|
$
|
59,822
|
|
|
$
|
10,649
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
17,717
|
|
|
$
|
2,410
|
|
$
|
3,853
|
|
$
|
8,526
|
|
$
|
14,789
|
|
|
$
|
(6,359
|
)
|
|
$
|
85,969
|
|
General and administrative expense
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
9,000
|
|
|
9,000
|
|
||||||||||||||
Gain on insurance recovery
|
—
|
|
202
|
|
—
|
|
202
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
1,321
|
|
—
|
|
—
|
|
1,321
|
|
|
—
|
|
|
1,523
|
|
||||||||||||||
Corporate/unallocated and other (1)
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(2,641
|
)
|
|
(2,641
|
)
|
||||||||||||||
NOI
|
$
|
48,637
|
|
$
|
10,240
|
|
$
|
1,147
|
|
$
|
60,024
|
|
|
$
|
10,649
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
17,717
|
|
|
$
|
3,731
|
|
$
|
3,853
|
|
$
|
8,526
|
|
$
|
16,110
|
|
|
$
|
—
|
|
|
$
|
93,851
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||
Quarterly GAAP NOI run rate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
NOI
|
$
|
48,637
|
|
$
|
10,240
|
|
$
|
1,147
|
|
$
|
60,024
|
|
|
$
|
10,649
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
17,717
|
|
|
$
|
3,731
|
|
$
|
3,853
|
|
$
|
8,526
|
|
$
|
16,110
|
|
|
$
|
—
|
|
|
$
|
93,851
|
|
In-service adjustments (2)
|
2,182
|
|
—
|
|
(32
|
)
|
2,150
|
|
|
868
|
|
339
|
|
(59
|
)
|
1,148
|
|
|
—
|
|
—
|
|
(191
|
)
|
(191
|
)
|
|
—
|
|
|
3,107
|
|
||||||||||||||
Percentage rent/participation adjustments (3)
|
53
|
|
67
|
|
—
|
|
120
|
|
|
—
|
|
—
|
|
(33
|
)
|
(33
|
)
|
|
15
|
|
—
|
|
385
|
|
400
|
|
|
—
|
|
|
487
|
|
||||||||||||||
Non-recurring adjustments (6)
|
(3
|
)
|
(57
|
)
|
—
|
|
(60
|
)
|
|
—
|
|
—
|
|
(116
|
)
|
(116
|
)
|
|
(1,321
|
)
|
—
|
|
—
|
|
(1,321
|
)
|
|
—
|
|
|
(1,497
|
)
|
||||||||||||||
Quarterly GAAP NOI run rate
|
$
|
50,869
|
|
$
|
10,250
|
|
$
|
1,115
|
|
$
|
62,234
|
|
|
$
|
11,517
|
|
$
|
3,675
|
|
$
|
3,524
|
|
$
|
18,716
|
|
|
$
|
2,425
|
|
$
|
3,853
|
|
$
|
8,720
|
|
$
|
14,998
|
|
|
$
|
—
|
|
|
$
|
95,948
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
|
|
x4
|
|
|||||||||||||||
Annualized GAAP NOI run rate
|
$
|
203,476
|
|
$
|
41,000
|
|
$
|
4,460
|
|
$
|
248,936
|
|
|
$
|
46,068
|
|
$
|
14,700
|
|
$
|
14,096
|
|
$
|
74,864
|
|
|
$
|
9,700
|
|
$
|
15,412
|
|
$
|
34,880
|
|
$
|
59,992
|
|
|
$
|
—
|
|
|
$
|
383,792
|
|
Quarterly cash NOI run rate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
NOI
|
$
|
48,637
|
|
$
|
10,240
|
|
$
|
1,147
|
|
$
|
60,024
|
|
|
$
|
10,649
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
17,717
|
|
|
$
|
3,731
|
|
$
|
3,853
|
|
$
|
8,526
|
|
$
|
16,110
|
|
|
$
|
—
|
|
|
$
|
93,851
|
|
In-service adjustments (4)
|
1,943
|
|
—
|
|
(32
|
)
|
1,911
|
|
|
711
|
|
875
|
|
(59
|
)
|
1,527
|
|
|
—
|
|
—
|
|
(191
|
)
|
(191
|
)
|
|
—
|
|
|
3,247
|
|
||||||||||||||
Percentage rent/participation adjustments (3)
|
53
|
|
67
|
|
—
|
|
120
|
|
|
—
|
|
—
|
|
(33
|
)
|
(33
|
)
|
|
15
|
|
—
|
|
385
|
|
400
|
|
|
—
|
|
|
487
|
|
||||||||||||||
Non-recurring adjustments (6)
|
(3
|
)
|
(57
|
)
|
—
|
|
(60
|
)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(1,321
|
)
|
—
|
|
—
|
|
(1,321
|
)
|
|
—
|
|
|
(1,381
|
)
|
||||||||||||||
Non-cash revenue
|
(129
|
)
|
499
|
|
(11
|
)
|
359
|
|
|
(2,058
|
)
|
(952
|
)
|
(428
|
)
|
(3,438
|
)
|
|
(68
|
)
|
—
|
|
(186
|
)
|
(254
|
)
|
|
—
|
|
|
(3,333
|
)
|
||||||||||||||
Quarterly cash NOI run rate
|
50,501
|
|
10,749
|
|
1,104
|
|
62,354
|
|
|
9,302
|
|
3,259
|
|
3,212
|
|
15,773
|
|
|
2,357
|
|
3,853
|
|
8,534
|
|
14,744
|
|
|
—
|
|
|
92,871
|
|
||||||||||||||
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
|
|
x4
|
|
|||||||||||||||
Annualized cash NOI run rate
|
$
|
202,004
|
|
$
|
42,996
|
|
$
|
4,416
|
|
$
|
249,416
|
|
|
$
|
37,208
|
|
$
|
13,036
|
|
$
|
12,848
|
|
$
|
63,092
|
|
|
$
|
9,428
|
|
$
|
15,412
|
|
$
|
34,136
|
|
$
|
58,976
|
|
|
$
|
—
|
|
|
$
|
371,484
|
|
EPR Properties
|
||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of Net Asset Value (NAV) Components
|
||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited, dollars in thousands)
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Annualized Net Operating Income (NOI) Run Rates - Financed Properties (for NAV calculations)
|
||||||||||||||||||||||||||||||||||||||||||||||
For the three months ended June 30, 2016
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||
|
Entertainment
|
|
Education
|
|
Recreation
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
|
Megaplex
|
ERC's/Retail
|
Other Entertainment
|
Entertainment Total
|
|
Public Charter Schools
|
Early Childhood Education
|
Private Schools
|
Education Total
|
|
Ski Areas
|
Waterparks
|
Golf Entertainment Complexes
|
Recreation Total
|
|
Corporate/unallocated and other
|
|
Total
|
||||||||||||||||||||||||||||
Total revenue
|
$
|
268
|
|
$
|
260
|
|
$
|
953
|
|
$
|
1,481
|
|
|
$
|
7,178
|
|
$
|
—
|
|
$
|
—
|
|
$
|
7,178
|
|
|
$
|
2,907
|
|
$
|
3,359
|
|
$
|
1,002
|
|
$
|
7,268
|
|
|
$
|
34
|
|
|
$
|
15,961
|
|
Property operating expense
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||||||
Total investment expense
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||||||
General and administrative expense
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||||||
Adjusted EBITDA
|
$
|
268
|
|
$
|
260
|
|
$
|
953
|
|
$
|
1,481
|
|
|
$
|
7,178
|
|
$
|
—
|
|
$
|
—
|
|
$
|
7,178
|
|
|
$
|
2,907
|
|
$
|
3,359
|
|
$
|
1,002
|
|
$
|
7,268
|
|
|
$
|
34
|
|
|
$
|
15,961
|
|
General and administrative expense
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||||||
Corporate/unallocated and other (1)
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(34
|
)
|
|
(34
|
)
|
||||||||||||||
NOI
|
$
|
268
|
|
$
|
260
|
|
$
|
953
|
|
$
|
1,481
|
|
|
$
|
7,178
|
|
$
|
—
|
|
$
|
—
|
|
$
|
7,178
|
|
|
$
|
2,907
|
|
$
|
3,359
|
|
$
|
1,002
|
|
$
|
7,268
|
|
|
$
|
—
|
|
|
$
|
15,927
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||
Quarterly GAAP NOI run rate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
NOI
|
$
|
268
|
|
$
|
260
|
|
$
|
953
|
|
$
|
1,481
|
|
|
$
|
7,178
|
|
$
|
—
|
|
$
|
—
|
|
$
|
7,178
|
|
|
$
|
2,907
|
|
$
|
3,359
|
|
$
|
1,002
|
|
$
|
7,268
|
|
|
$
|
—
|
|
|
$
|
15,927
|
|
In-service adjustments (5)
|
—
|
|
(260
|
)
|
—
|
|
(260
|
)
|
|
7
|
|
—
|
|
—
|
|
7
|
|
|
5
|
|
(1
|
)
|
62
|
|
66
|
|
|
—
|
|
|
(187
|
)
|
||||||||||||||
Percentage rent/participation adjustments (3)
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
379
|
|
—
|
|
379
|
|
|
—
|
|
|
379
|
|
||||||||||||||
Non-recurring adjustments (6)
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||||||
Quarterly GAAP NOI run rate
|
$
|
268
|
|
$
|
—
|
|
$
|
953
|
|
$
|
1,221
|
|
|
$
|
7,185
|
|
$
|
—
|
|
$
|
—
|
|
$
|
7,185
|
|
|
$
|
2,912
|
|
$
|
3,737
|
|
$
|
1,064
|
|
$
|
7,713
|
|
|
$
|
—
|
|
|
$
|
16,119
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
|
|
x4
|
|
|||||||||||||||
Annualized GAAP NOI run rate
|
$
|
1,072
|
|
$
|
—
|
|
$
|
3,812
|
|
$
|
4,884
|
|
|
$
|
28,740
|
|
$
|
—
|
|
$
|
—
|
|
$
|
28,740
|
|
|
$
|
11,648
|
|
$
|
14,948
|
|
$
|
4,256
|
|
$
|
30,852
|
|
|
$
|
—
|
|
|
$
|
64,476
|
|
Quarterly cash NOI run rate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
NOI
|
$
|
268
|
|
$
|
260
|
|
$
|
953
|
|
$
|
1,481
|
|
|
$
|
7,178
|
|
$
|
—
|
|
$
|
—
|
|
$
|
7,178
|
|
|
$
|
2,907
|
|
$
|
3,359
|
|
$
|
1,002
|
|
$
|
7,268
|
|
|
$
|
—
|
|
|
$
|
15,927
|
|
In-service adjustments (5)
|
—
|
|
(260
|
)
|
—
|
|
(260
|
)
|
|
7
|
|
—
|
|
—
|
|
7
|
|
|
5
|
|
(1
|
)
|
62
|
|
66
|
|
|
—
|
|
|
(187
|
)
|
||||||||||||||
Percentage rent/participation adjustments (3)
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
379
|
|
—
|
|
379
|
|
|
—
|
|
|
379
|
|
||||||||||||||
Non-recurring adjustments (6)
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||||||
Non-cash revenue
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(1,017
|
)
|
—
|
|
—
|
|
(1,017
|
)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
|
(1,017
|
)
|
||||||||||||||
Quarterly cash NOI run rate
|
268
|
|
—
|
|
953
|
|
1,221
|
|
|
6,168
|
|
—
|
|
—
|
|
6,168
|
|
|
2,912
|
|
3,737
|
|
1,064
|
|
7,713
|
|
|
—
|
|
|
15,102
|
|
||||||||||||||
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
|
|
x4
|
|
|||||||||||||||
Annualized cash NOI run rate
|
$
|
1,072
|
|
$
|
—
|
|
$
|
3,812
|
|
$
|
4,884
|
|
|
$
|
24,672
|
|
$
|
—
|
|
$
|
—
|
|
$
|
24,672
|
|
|
$
|
11,648
|
|
$
|
14,948
|
|
$
|
4,256
|
|
$
|
30,852
|
|
|
$
|
—
|
|
|
$
|
60,408
|
|
EPR Properties
|
||||||||||||||||||||||||||||||||||||||||||||||
Reconciliation of Net Asset Value (NAV) Components
|
||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited, dollars in thousands)
|
||||||||||||||||||||||||||||||||||||||||||||||
|
||||||||||||||||||||||||||||||||||||||||||||||
Annualized Net Operating Income (NOI) Run Rates - Total - Owned and Financed Properties (for NAV calculations) - sum of pages 37 and 38
|
||||||||||||||||||||||||||||||||||||||||||||||
For the three months ended June 30, 2016
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||
|
Entertainment
|
|
Education
|
|
Recreation
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||
|
Megaplex
|
ERC's/Retail
|
Other Entertainment
|
Entertainment Total
|
|
Public Charter Schools
|
Early Childhood Education
|
Private Schools
|
Education Total
|
|
Ski Areas
|
Waterparks
|
Golf Entertainment Complexes
|
Recreation Total
|
|
Corporate/unallocated and other
|
|
Total
|
||||||||||||||||||||||||||||
Total revenue
|
$
|
49,113
|
|
$
|
15,657
|
|
$
|
2,070
|
|
$
|
66,840
|
|
|
$
|
17,827
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
24,895
|
|
|
$
|
6,638
|
|
$
|
7,212
|
|
$
|
9,528
|
|
$
|
23,378
|
|
|
$
|
2,920
|
|
|
$
|
118,033
|
|
Property operating expense
|
208
|
|
5,157
|
|
(30
|
)
|
5,335
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
245
|
|
|
5,580
|
|
||||||||||||||
Total investment expense
|
208
|
|
5,157
|
|
(30
|
)
|
5,335
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
245
|
|
|
5,580
|
|
||||||||||||||
General and administrative expense
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(9,000
|
)
|
|
(9,000
|
)
|
||||||||||||||
Less: gain on insurance recovery
|
—
|
|
(202
|
)
|
—
|
|
(202
|
)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(1,321
|
)
|
—
|
|
—
|
|
(1,321
|
)
|
|
—
|
|
|
(1,523
|
)
|
||||||||||||||
Adjusted EBITDA
|
$
|
48,905
|
|
$
|
10,298
|
|
$
|
2,100
|
|
$
|
61,303
|
|
|
$
|
17,827
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
24,895
|
|
|
$
|
5,317
|
|
$
|
7,212
|
|
$
|
9,528
|
|
$
|
22,057
|
|
|
$
|
(6,325
|
)
|
|
$
|
101,930
|
|
General and administrative expense
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
9,000
|
|
|
9,000
|
|
||||||||||||||
Gain on insurance recovery
|
—
|
|
202
|
|
—
|
|
202
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
1,321
|
|
—
|
|
—
|
|
1,321
|
|
|
—
|
|
|
1,523
|
|
||||||||||||||
Corporate/unallocated and other (1)
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(2,675
|
)
|
|
(2,675
|
)
|
||||||||||||||
NOI
|
$
|
48,905
|
|
$
|
10,500
|
|
$
|
2,100
|
|
$
|
61,505
|
|
|
$
|
17,827
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
24,895
|
|
|
$
|
6,638
|
|
$
|
7,212
|
|
$
|
9,528
|
|
$
|
23,378
|
|
|
$
|
—
|
|
|
$
|
109,778
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||||
Quarterly GAAP NOI run rate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
NOI
|
$
|
48,905
|
|
$
|
10,500
|
|
$
|
2,100
|
|
$
|
61,505
|
|
|
$
|
17,827
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
24,895
|
|
|
$
|
6,638
|
|
$
|
7,212
|
|
$
|
9,528
|
|
$
|
23,378
|
|
|
$
|
—
|
|
|
$
|
109,778
|
|
In-service adjustments (2) (5)
|
2,182
|
|
(260
|
)
|
(32
|
)
|
1,890
|
|
|
875
|
|
339
|
|
(59
|
)
|
1,155
|
|
|
5
|
|
(1
|
)
|
(129
|
)
|
(125
|
)
|
|
—
|
|
|
2,920
|
|
||||||||||||||
Percentage rent/participation adjustments (3)
|
53
|
|
67
|
|
—
|
|
120
|
|
|
—
|
|
—
|
|
(33
|
)
|
(33
|
)
|
|
15
|
|
379
|
|
385
|
|
779
|
|
|
—
|
|
|
866
|
|
||||||||||||||
Non-recurring adjustments (6)
|
(3
|
)
|
(57
|
)
|
—
|
|
(60
|
)
|
|
—
|
|
—
|
|
(116
|
)
|
(116
|
)
|
|
(1,321
|
)
|
—
|
|
—
|
|
(1,321
|
)
|
|
—
|
|
|
(1,497
|
)
|
||||||||||||||
Quarterly GAAP NOI run rate
|
$
|
51,137
|
|
$
|
10,250
|
|
$
|
2,068
|
|
$
|
63,455
|
|
|
$
|
18,702
|
|
$
|
3,675
|
|
$
|
3,524
|
|
$
|
25,901
|
|
|
$
|
5,337
|
|
$
|
7,590
|
|
$
|
9,784
|
|
$
|
22,711
|
|
|
$
|
—
|
|
|
$
|
112,067
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
|
|
x4
|
|
|||||||||||||||
Annualized GAAP NOI run rate
|
$
|
204,548
|
|
$
|
41,000
|
|
$
|
8,272
|
|
$
|
253,820
|
|
|
$
|
74,808
|
|
$
|
14,700
|
|
$
|
14,096
|
|
$
|
103,604
|
|
|
$
|
21,348
|
|
$
|
30,360
|
|
$
|
39,136
|
|
$
|
90,844
|
|
|
$
|
—
|
|
|
$
|
448,268
|
|
Quarterly cash NOI run rate
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||||||||||
NOI
|
$
|
48,905
|
|
$
|
10,500
|
|
$
|
2,100
|
|
$
|
61,505
|
|
|
$
|
17,827
|
|
$
|
3,336
|
|
$
|
3,732
|
|
$
|
24,895
|
|
|
$
|
6,638
|
|
$
|
7,212
|
|
$
|
9,528
|
|
$
|
23,378
|
|
|
$
|
—
|
|
|
$
|
109,778
|
|
In-service adjustments (4) (5)
|
1,943
|
|
(260
|
)
|
(32
|
)
|
1,651
|
|
|
718
|
|
875
|
|
(59
|
)
|
1,534
|
|
|
5
|
|
(1
|
)
|
(129
|
)
|
(125
|
)
|
|
—
|
|
|
3,060
|
|
||||||||||||||
Percentage rent/participation adjustments (3)
|
53
|
|
67
|
|
—
|
|
120
|
|
|
—
|
|
—
|
|
(33
|
)
|
(33
|
)
|
|
15
|
|
379
|
|
385
|
|
779
|
|
|
—
|
|
|
866
|
|
||||||||||||||
Non-recurring adjustments (6)
|
(3
|
)
|
(57
|
)
|
—
|
|
(60
|
)
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|
(1,321
|
)
|
—
|
|
—
|
|
(1,321
|
)
|
|
—
|
|
|
(1,381
|
)
|
||||||||||||||
Non-cash revenue
|
(129
|
)
|
499
|
|
(11
|
)
|
359
|
|
|
(3,075
|
)
|
(952
|
)
|
(428
|
)
|
(4,455
|
)
|
|
(68
|
)
|
—
|
|
(186
|
)
|
(254
|
)
|
|
—
|
|
|
(4,350
|
)
|
||||||||||||||
Quarterly cash NOI run rate
|
50,769
|
|
10,749
|
|
2,057
|
|
63,575
|
|
|
15,470
|
|
3,259
|
|
3,212
|
|
21,941
|
|
|
5,269
|
|
7,590
|
|
9,598
|
|
22,457
|
|
|
—
|
|
|
107,973
|
|
||||||||||||||
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
x4
|
|
x4
|
|
x4
|
|
x4
|
|
|
|
|
x4
|
|
|||||||||||||||
Annualized cash NOI run rate
|
$
|
203,076
|
|
$
|
42,996
|
|
$
|
8,228
|
|
$
|
254,300
|
|
|
$
|
61,880
|
|
$
|
13,036
|
|
$
|
12,848
|
|
$
|
87,764
|
|
|
$
|
21,076
|
|
$
|
30,360
|
|
$
|
38,392
|
|
$
|
89,828
|
|
|
$
|
—
|
|
|
$
|
431,892
|
|