---
schema_version: "secwatch.filing_event.v1"
accession: "0001045450-23-000058"
form_type: "8-K"
ticker: "EPR"
cik: "0001045450"
company_name: "EPR PROPERTIES"
filed_at: "2023-06-28T23:59:59+00:00"
generated_at: "2026-06-13T15:18:21.126838+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# EPR Properties restructures Regal lease portfolio: new $65M base rent master lease for 41 theatres, 16 surrendered

## Summary
- Master lease for 41 Regal theatres: $65M annual base rent, 10% escalator every 5 years, weighted avg term extended to 13 years.
- EPR takes back 16 theatres; Cinemark to operate 4, Phoenix Theatres 1, and 11 to be sold.
- Projected 96% of pre-bankruptcy Regal rent in 2024 on Master Lease properties, assuming $9.4B NABOG.
- $51.8M deferred rent forgiven after 15 years if no default; otherwise due immediately.
- Non-cash impairment charge of ~$50M expected in Q2 2023 on surrendered theatres.

## SEC filing metadata
- accession: 0001045450-23-000058
- form_type: 8-K
- ticker: EPR
- cik: 0001045450
- company_name: EPR PROPERTIES
- filed_at: 2023-06-28T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1045450/000104545023000058/0001045450-23-000058-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1045450/000104545023000058/epr-20230628.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001045450-23-000058
- JSON: https://secwatch.observer/filing/0001045450-23-000058.json
- Plain text: https://secwatch.observer/filing/0001045450-23-000058.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.