EPR Properties reports Q4'20 contractual cash revenue collections

EPR Properties said it has collected about 46% of pre-COVID-19 contractual cash revenue during the fourth quarter of 2020.

Approximately 92% of the diversified real estate investment trust's nontheater assets were back in operation as of Dec. 31, 2020, while 58% of its theater properties are open, excluding normal seasonal closings.

The REIT also said it sold six private schools and four early childhood education centers in late December pursuant to a tenant purchase option, for net proceeds of about $201 million and expected gain on sale of approximately $40 million.

EPR also closed the sale of four experiential properties and two land parcels during the fourth quarter, for net proceeds of about $23 million, bringing its disposition proceeds during the period to approximately $224 million.

Part of the sale proceeds were used to pay down the REIT's revolving credit facility by $160 million.

The REIT said it had more than $1.0 billion of cash on hand at the end of 2020.