What EPR Properties reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
As of December 31, 2025, our real estate portfolio consisted of investments in our Experiential and Education reportable segments. Except as otherwise noted, all of the real estate investments listed below are owned or ground leased directly by us.
The following table sets forth our wholly-owned properties (excludes properties under development, land held for development, properties owned by unconsolidated real estate joint ventures and properties securing our mortgage notes) listed by segment and property type and includes gross square footage (except for certain ski and attraction properties where such number is not meaningful), percentage leased and total rental revenue for the year ended December 31, 2025 (dollars in thousands). At certain properties included below, we are the tenant under third-party ground leases and have assumed responsibility for performing the obligations thereunder. However, pursuant to the facility leases, our tenants are generally responsible for performing substantially all of our obligations under the ground leases.
The rest of Item 2
Number of Properties · Building Gross Square Footage · Percentage Leased · Rental Revenue for the YearEnded December 31, 2025 · % of Company's Rental Revenue
Experiential
Theatres (1) · 148 · 10,310,839 · 99.2 · 244,523 · 40.2
Eat & Play (2) · 55 · 5,281,017 · 96.4 · 178,534 · 29.3
Attractions (3) · 24 · 1,430,890 · 100.0 · 72,125 · 11.9
Ski · 3 · 330,508 · 100.0 · 25,321 · 4.2
Experiential Lodging · 1 · 276,210 · 100.0 · 2,743 · 0.4
Fitness & Wellness · 13 · 869,693 · 100.0 · 29,348 · 4.8
Gaming (4) · 1 · — · 100.0 · 12,571 · 2.1
Cultural · 1 · 457,093 · 100.0 · 5,982 · 1.0
Total Experiential · 246 · 18,956,250 · 98.6 · 571,147 · 93.9
Education
Early Childhood Education Centers · 46 · 828,047 · 100.0 · 26,879 · 4.4
Private Schools · 9 · 292,362 · 100.0 · 10,579 · 1.7
Total Education · 55 · 1,120,409 · 100.0 · 37,458 · 6.1
Total · 301 · 20,076,659 · 98.7 · 608,605 · 100.0
(1) Includes four properties operated by EPR through third-party managers. Revenue for these properties is included in other income in the consolidated statements of income and comprehensive income.
(2) Includes seven theatres located in entertainment districts.
(3) Includes one property operated by EPR through a third-party manager. Revenue for this property is included in other income in the consolidated statements of income and comprehensive income.
(4) Represents land owned by us and ground leased to a casino operator.
The following table sets forth lease expirations regarding EPR’s wholly-owned portfolio (defined above) as of December 31, 2025 excluding properties we operate through third-party managers and non-theatre tenant leases at entertainment districts (dollars in thousands):
Year · Number ofProperties · SquareFootage · Rental Revenue for the YearEnded December 31, 2025 · % of Company's RentalRevenue
2026 · 1 · 39,289 · 1,141 · 0.2
2027 · 4 · 314,699 · 20,675 · 3.4
2028 · 9 · 604,771 · 15,107 · 2.5
2029 · 14 · 796,011 · 21,726 · 3.6
2030 · 20 · 1,449,253 · 34,158 · 5.6
2031 · 3 · 279,325 · 5,126 · 0.8
2032 · 8 · 460,708 · 12,237 · 2.0
2033 · 7 · 320,563 · 10,210 · 1.7
2034 · 34 · 2,295,305 · 68,599 · 11.3
2035 · 29 · 2,333,642 · 72,313 · 11.9
2036 · 40 · 2,563,753 · 76,396 · 12.5
2037 · 27 · 1,604,632 · 61,758 · 10.1
2038 · 40 · 2,225,531 · 65,029 · 10.7
2039 · 2 · 120,481 · 4,987 · 0.8
2040 · 3 · 196,781 · 9,799 · 1.6
2041 · 30 · 805,130 · 18,608 · 3.1
2042 · 4 · 466,958 · 18,640 · 3.1
2043 · 7 · 123,497 · 20,266 · 3.3
2044 · 1 · — · 3,071 · 0.5
2045 · 6 · 632,488 · 21,570 · 3.5
Thereafter · 7 · 220,370 · 7,003 · 1.2
296 · 17,853,187 · 568,419 · 93.4
Our wholly-owned properties (defined above) are located in 38 states and Canada. The following table sets forth certain information by state or province regarding our owned real estate portfolio as of December 31, 2025 (dollars in thousands):
Location · Building (gross sq. ft.) · Rental Revenue for the Year EndedDecember 31, 2025 · % of Rental Revenue
Texas · 2,716,738 · 77,436 · 12.7
California · 1,665,099 · 83,162 · 13.7
Florida · 1,286,099 · 42,491 · 7.0
Ontario, Canada · 1,204,639 · 37,157 · 6.1
New York · 1,111,921 · 42,283 · 6.9
Pennsylvania · 933,779 · 33,884 · 5.6
Illinois · 831,355 · 19,986 · 3.3
Colorado · 773,077 · 25,216 · 4.1
Ohio · 739,759 · 13,237 · 2.2
Tennessee · 680,570 · 18,109 · 3.0
North Carolina · 631,137 · 22,170 · 3.6
Louisiana · 591,272 · 15,032 · 2.5
Kansas · 582,159 · 12,727 · 2.1
Virginia · 545,159 · 16,582 · 2.7
Michigan · 521,631 · 9,146 · 1.5
Georgia · 509,159 · 13,512 · 2.2
Missouri · 490,330 · 6,642 · 1.1
Arizona · 465,755 · 14,614 · 2.4
Quebec, Canada · 399,437 · 10,392 · 1.7
South Carolina · 349,388 · 12,032 · 2.0
Indiana · 345,941 · 8,386 · 1.4
Kentucky · 334,733 · 6,547 · 1.1
Alabama · 323,972 · 6,110 · 1.0
New Jersey · 297,464 · 9,545 · 1.6
Oklahoma · 189,968 · 8,014 · 1.3
Minnesota · 181,764 · 6,618 · 1.1
Idaho · 179,036 · 3,991 · 0.7
Oregon · 166,526 · 3,750 · 0.6
Arkansas · 165,219 · 4,169 · 0.7
Connecticut · 158,069 · 3,506 · 0.6
Mississippi · 116,900 · 4,144 · 0.7
Massachusetts · 111,166 · 1,100 · 0.2
Maine · 107,000 · 1,131 · 0.2
Iowa · 93,755 · 1,524 · 0.2
New Mexico · 71,297 · 2,713 · 0.4
Maryland · 63,306 · 2,190 · 0.3
Nevada · 50,426 · 1,649 · 0.3
Washington · 47,004 · 3,216 · 0.5
Montana · 44,650 · 1,092 · 0.2
Hawaii · — · 2,640 · 0.4
New Hampshire (1) · — · 556 · 0.1
Wisconsin (1) · — · 120 · —
Nebraska (2) · — · 84 · —
20,076,659 · 608,605 · 100.0
(1) Properties sold during the year ended December 31, 2025.
(2) Property sold during the year ended December 31, 2021 and tenant continues to pay deferred rent to EPR.
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