EPR is Purchaser of Camelback
SAM Magazine--Kansas City, Mo., October 14, 2013--EPR Properties announced that it is the entity that purchased Camelback Mountain Resort in Tannersville, Pa. for close to $70 million. The resort consists of 160 acres of skiable terrain and includes a waterpark, an outdoor adventure park, a 40-lane tubing facility and base lodge. The resort hosts 900,000 visitors annually.
The property is currently leased to CBH2O who has operated the resort since 2005 and has committed to an additional 20-year term. Ken Ellis and Art Berry, principals of CBH2O, will continue to reinvest and develop additional attractions.
"I am very pleased to announce this expansion of our recreation portfolio with Camelback Mountain Resort," said David Brain, president and CEO of EPR. "Camelback 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."