{"id":1004085177,"date":"2013-10-15T06:37:08","date_gmt":"2013-10-15T14:37:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004085177"},"modified":"2022-12-08T12:47:12","modified_gmt":"2022-12-08T20:47:12","slug":"epr-buys-camelback-mountain-resort-in-poconos-for-70m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/epr-buys-camelback-mountain-resort-in-poconos-for-70m\/","title":{"rendered":"EPR Buys Camelback Mountain Resort in Poconos for $70M"},"content":{"rendered":"

By Peter Fabris, Contributing Writer<\/i><\/p>\n

\"Courtesy:<\/a>

Courtesy: flickr user EJ11481<\/p><\/div>\n

EPR Properties has closed on a transaction to acquire the Camelback Mountain Resort in Tannersville, Pa., for approximately $70 million. While skiing is the primary activity at the Poconos resort, its recreational amenities for the other seasons were key elements spurring the REIT\u2019s investment.<\/p>\n

\u201cI am very pleased to announce this expansion of our recreation portfolio with Camelback Mountain Resort,\u201d said David Brain, president & CEO, in a news release. \u201cCamelback has been a very popular and successful recreation property for over 50 years, and importantly, offers year-round attractions and sustainable year-round cash flows.\u201d<\/p>\n

The resort, about a 90-minute drive from New York City, has 160 acres of skiable terrain, a water park, an outdoor adventure park, a 40-lane tubing facility, and a base lodge. Camelback attracts about 900,000 visitors annually.<\/p>\n

EPR Properties, a specialty REIT, invests in properties in select market segments that require specific industry knowledge. Its total investments exceed $3.2 billion, with primary investment segments consisting of entertainment, recreation, and education properties. EPR owns over a dozen other ski properties that it describes as metro ski areas\u2014facilities close to major urban centers\u2014and three other water parks.<\/p>\n

Camelback is currently leased to CBH2O, operators of the resort since 2005. The company has committed to an additional 20-year term.<\/p>\n","protected":false},"excerpt":{"rendered":"

EPR Properties has closed on a transaction to acquire the Camelback Mountain Resort in Tannersville, Pa., for approximately $70 million. <\/p>\n","protected":false},"author":1640,"featured_media":1004085180,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21751,21783,11,21742],"tags":[],"class_list":["post-1004085177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hotel","category-investment","category-midatlantic","category-latest"],"acf":[],"yoast_head":"\nEPR Buys Camelback Mountain Resort in Poconos for $70M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/epr-buys-camelback-mountain-resort-in-poconos-for-70m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EPR Buys Camelback Mountain Resort in Poconos for $70M\" \/>\n<meta property=\"og:description\" content=\"EPR Properties has closed on a transaction to acquire the Camelback Mountain Resort in Tannersville, Pa., for approximately $70 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/epr-buys-camelback-mountain-resort-in-poconos-for-70m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-10-15T14:37:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T20:47:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2013\/10\/3608215473_5915b03b11.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"375\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Peter Fabris\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/epr-buys-camelback-mountain-resort-in-poconos-for-70m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/epr-buys-camelback-mountain-resort-in-poconos-for-70m\/\",\"name\":\"EPR Buys Camelback Mountain Resort in Poconos for $70M - 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