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Tucson’s Fun Park Sells in $700M Transaction

Posted by   /  May 1, 2017  /  No Comments

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By Karen Schutte |Real Estate Daily News

EPR Properties, a Kansas City-based publicly traded REIT and CNL Lifestyle Properties, Inc. have completed the last tranche of the previously announced acquisitions of the Northstar California Ski Resort, 15 attraction properties (waterparks and amusement parks) and five small family entertainment centers for aggregate consideration valued at $455.5 million. Additionally, the Company provided $251.0 million of five-year secured debt financing to funds affiliated with Och-Ziff Real Estate for its purchase of 14 CNL Lifestyle ski properties valued at $374.5 million.

Included in the final tranche of the acquisition was Arizona’s greatest fun park for all ages, Tucson’s 7-acre Funtasticks Family Fun Park at 221 E Wetmore in Tucson for $1.28 million ($113 PSF), with all the rides and attractions. The sale is part of a bulk sale that comes in at over $700 million total.

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