Kansas City, Mo.-based real estate investment trust EPR Properties is acquiring the Village Vacances Valcartier resort and hotel in Quebec City, Quebec, as well as the Calypso Waterpark in Ottawa, Ontario, for aggregate consideration of approximately $142 million USD (approximately $179 million CAD). Simultaneous with the acquisition, the company is leasing these properties to Premier Parks pursuant to a long-term triple net lease.
The Village Vacances Valcartier covers approximately 225 acres and has both indoor and outdoor water park attractions and winter activities, more than 600 campground sites and several food and beverage options. The resort also includes the 153-room Hotel Valcartier, the Hotel de Glace (ice hotel) in winter and the Aroma Spa.
Calypso Waterpark, meanwhile, is one of the largest themed waterparks in Canada, covering approximately 350 acres, with 35 water slides, two lazy rivers and home to the largest wave pool in the country.
“We are delighted to announce the acquisition of two of the top performing attractions in Canada. These acquisitions demonstrate the value of our years of experience and long-standing relationships in experiential real estate,” said Gregory Silvers, chairman and CEO of EPR Properties. “Consistent with our stated strategy, we are ramping up our investment spending as our pipeline of experiential real estate opportunities continues to grow.”