EPR CEO Silvers Says Performance Record Proof of REIT’s Resiliency

Greg Silvers, president and CEO of EPR Properties (NYSE: EPR), joined Nareit for a video interview at REITworld 2017.

EPR is a specialty REIT that invests in properties in select, non-commodity market segments including entertainment, recreation and education.

EPR is marking the 20th anniversary of its initial public offering (IPO) this month. Silvers said EPR’s strategy has been “incredibly resilient over the years.” He noted that in the last two decades, EPR has had more than a 1,500 percent total shareholder return: “That performance indicates that it’s been a successful strategy.”

Silvers pointed out that investment spending in 2017 has been boosted by the acquisition of CNL Lifestyle Properties. On an ongoing basis, acquisition spending should return to the range of $600 million to $800 million in 2018, he said.

Meanwhile, EPR’s recycling of assets should run at an annual pace of $175 million to $200 million going forward, according to Silvers. “We’re always pruning our portfolio, looking to improve the quality,” he said.

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