UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF
1934
Date of Report (Date of earliest event reported) March 2, 1998
(December 18, 1997)
ENTERTAINMENT PROPERTIES TRUST
(Exact name of Registrant as specified in its charter)
Maryland 1-13561 43-179877
(State or other (Commission File (I.R.S. Employer No.)
jurisdiction Number) Identification
of Incorporation)
One Kansas City Place
1200 Main Street, Suite 3250, Kansas City, Missouri 64105
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (816) 472-1700
________________________________________________________________
(Former name or former address, if changed since last report)
<PAGE>
ITEM 5. OTHER EVENTS
Entertainment Properties Trust (the "Company") issued press
releases on the dates indicated on the table below, copies of
which are attached hereto as Exhibits 99.1 through 99.5 and
incorporated herein by reference.
Table Of Press Release Dates
DATE SUBJECT
December 18, 1997 First Quarterly Dividend Following
Successful IPO
December 23, 1997 Entertainment Properties Trust Adds
Three AMC Theatres
January 22, 1998 Year-End Results Above Analyst
Expectations
January 29, 1998 Tax Treatment For 1997 Dividend
February 2, 1998 Addition of Houston Theatre Megaplex
Item 7. Financial Statements and Exhibits
(c) EXHIBITS. The following Exhibits are filed with this
report:
EXHIBIT NO. DESCRIPTION
99.1 Press Release, issued December 18, 1997
99.2 Press Release, issued December 23, 1997
99.3 Press Release, issued January 22, 1998
99.4 Press Release, issued January 29, 1998
99.5 Press Release, issued February 2, 1998
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, hereunto duly authorized.
ENTERTAINMENT PROPERTIES TRUST
By: /s/ R.S. Christian
Scott Christian, Treasurer
Date: March 2, 1998
EXHIBIT 99.1
PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: Jonathan B. Weis
Director of Corporate Communications
Entertainment Properties Trust
(816) 472-1700
Joe Keenan, Sturges & Word Inc.
(816) 221-7500
ENTERTAINMENT PROPERTIES TRUST ANNOUNCES
FIRST QUARTERLY DIVIDEND FOLLOWING SUCCESSFUL IPO
KANSAS CITY, MO. (December 18, 1997) Entertainment
Properties Trust (EPR:NYSE), a Real Estate Investment Trust
(REIT) that owns entertainment-related properties, announced
today that its Board of Trustees has approved a quarterly cash
dividend of $2.5 million, or $0.18 per share. The dividend
amount represents an 8.2 percent yield on the initial public
offering price of $20 per share which is consistent with the
company's forecast. It is for the period from November 18, 1997,
the date the initial public offering was completed, through
December 31, 1997, and represents the pro rata portion of what
the trust expects to be a $1.60 annual dividend. The record date
for the dividend is December 29, 1997. The dividend is payable
January 12, 1998, to shareholders of record.
Entertainment Properties Trust recently completed an initial
public offering which raised a total of $276 million for the
company. The company is using the proceeds to purchase megaplex
movie theaters and destination entertainment centers which will
then be leased to theatrical exhibition companies and other
entertainment operators.
Entertainment Properties Trust is a unique REIT focusing on
the entertainment industry. The company's common stock is traded
on the New York Stock Exchange under the ticker symbol EPR.
With the exception of historical information, the matters
discussed in this press release involve forward-looking
statements as such statements are defined in the Private
Securities Litigation Reform Act of 1995, and which may be
identified by such words as "continue," "believe," "may,"
"expect," "hope," "anticipate," "goal," or other comparable
terminology. Such forward-looking statements involve risk and
uncertainties which include, but are not limited to, the
Company's need to diversify its client base, increased
competition from other REITs, the dependence on key personnel and
other risks. Actual results may differ from those indicated in
such forward-looking statements. In evaluating such factors,
shareholders and investors are cautioned not to place undue
reliance on such forward-looking statements. In addition to the
above factors, shareholders and investors are encouraged to
review the factors set forth in the Company's prospectus dated
November 18, 1997.
EXHIBIT 99.2
PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: Jonathan B. Weis
Director of Corporate Communications
Entertainment Properties Trust
(816) 472-1700
Joe Keenan, Sturges & Word Inc.
(816) 221-7500
ENTERTAINMENT PROPERTIES TRUST ADDS THREE AMC THEATERS
KANSAS CITY, MO. (December 23, 1997) Entertainment
Properties Trust (EPR:NYSE), a Real Estate Investment Trust
(REIT) that owns entertainment-related properties, today
announced it has purchased three theater properties from American
Multi-Cinema, Inc., a wholly-owned subsidiary of AMC
Entertainment, Inc.
The three properties are: First Colony 24, Houston, Texas;
Oak View 24, Omaha, Nebraska; and Leawood Town Center 20,
Leawood, Kansas, a suburb of Kansas City. The acquisition of
Leawood Town Center was ahead of schedule.
"As a result of the earlier-than-expected opening of Leawood
Town Center, we were able to add it to our portfolio early, which
represents a pleasant $0.005 FFO (funds from operations) per
share increase for stockholders based upon the projected rental
income for that property in 1998," said David M. Brain, chief
financial officer. The additions bring to 11 the number of
megaplex theaters Entertainment Properties owns in the United
States since the company became a publicly traded company in
November of this year.
Entertainment Properties Trust is a unique REIT focusing on
the entertainment industry. In its initial public offering on
November 18, 1997, the company raised $276 million, the proceeds
of which are being used to purchase megaplex movie theaters and
destination entertainment centers that are leased to theatrical
exhibition companies and other entertainment facilities. The
company's common stock is traded on the New York Stock Exchange
under the ticker symbol EPR.
EXHIBIT 99.3
PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: Jonathan B. Weis
Director of Corporate Communications
Entertainment Properties Trust
(816) 472-1700
Joe Keenan, Sturges & Word Inc.
(816) 221-7500
ENTERTAINMENT PROPERTIES TRUST ANNOUNCES
YEAR-END RESULTS ABOVE ANALYST EXPECTATIONS
KANSAS CITY, MO. (January 22, 1998) Entertainment
Properties Trust (EPR:NYSE), a Real Estate Investment Trust
(REIT) that owns entertainment-related properties, reported today
total income (rental income and interest income) of $2,473,766
for the period from November_18, 1997, the date the company's
initial public offering was completed, through December 31, 1997.
The company also reported net income during that same period of
$1,441,911 which represents net income of $.22 per share on a
full quarter equivalent basis ($.10 cents per share for the
44-day period of operations).
The company's funds from operations (FFO) for the same
period were $2,109,420 which represents $.33 per share on a full
quarter equivalent basis ($.15 per share for the 44-day period of
operations), more than 17 percent above the First Call composite
forecast for the company.
"We are delighted to have completed our first quarter as a
publicly-traded company with such strong results," President
Robert "Chip" Harris said. "Our earnings reflect the early
purchase of the AMC Leawood Town Center 20 megaplex in December
and effective management of our general and administrative
costs."
Entertainment Properties Trust was organized as a REIT in
August 1997 and raised a total of $276 million through a public
offering in November. December was the company's first full
month of operations as a fully capitalized company.
The company paid its first quarterly cash dividend of $2.5
million, or $.18 per share, earlier this month. The pro rata
dividend amount represented an 8.0 percent yield for the stub
period on the initial public offering price of $20 per share,
which is consistent with the company's forecast.
<PAGE>
Entertainment Properties Trust is a Real Estate Investment
Trust whose principal business strategy is to acquire and develop
a diversified portfolio of high-quality properties leased to
major entertainment-related business operators. The company's
common stock is traded on the New York Stock Exchange under the
ticker symbol EPR.
Other than historical information, this press release may include
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995 and identified by words such as
"continue," "believe," "may," "hope," "anticipate," "goal,"
"forecast" or comparable terms. The Company's actual financial
condition, results of operations or business may vary materially
from those contemplated by such forward-looking statements and
involve various risks and uncertainties, including the Company's
initial dependence on a single tenant and lease guarantor for its
revenues and ability to make distributions, potential conflicts
of interest, competition from other entities providing capital to
the entertainment industry, dependence on key personnel,
operating risks in the entertainment industry that may affect the
operations of the Company's tenants, tax risks, interest rates
and availability of debt financing, real estate investment risks
and other risks and uncertainties. Investors are cautioned not
to place undue reliance on such forward-looking statements, and
are encouraged to review the risk factors identified in the
company's prospectus dated November 18, 1997, and in the
Company's reports filed with the Securities and Exchange
Commission.
EXHIBIT 99.4
PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: Jonathan B. Weis
Director of Corporate Communications
Entertainment Properties Trust
(816) 472-1700
Joe Keenan, Sturges & Word Inc.
(816) 221-7500
ENTERTAINMENT PROPERTIES TRUST ANNOUNCES
TAX TREATMENT FOR 1997 DIVIDEND
KANSAS CITY, MO. (January 29, 1998) Entertainment
Properties Trust, a Maryland Real Estate Investment Trust
("Entertainment Properties" or the "Company") (NYSE:EPR) today
announced the taxable composition of distributions declared on
its Common Shares as follows:
<TABLE>
<CAPTION>
DECLARATION RECORD PAYMENT DISTRIBUTION ORDINARY RETURN OF TO BE
DATE DATE DATE PER SHARE TAXABLE CAPITAL REPORTED
INCOME 1997 AS 1998
1997 DISTRIBUTIONS
<C> <C> <C> <C> <C> <C> <C>
<S>
_______________________________________________________________________________
12/18/97 12/29/97 1/12/98 $0.18 100% 0.0% 0.0%
</TABLE>
Entertainment Properties Trust is a Real Estate Investment
Trust whose principal business strategy is to acquire and develop
a diversified portfolio of high-quality properties leased to
major entertainment-themed business operators. The company's
common stock is traded on the New York Stock Exchange under the
ticker symbol EPR.
EXHIBIT 99.5
PRESS RELEASE
FOR IMMEDIATE RELEASE
CONTACT: Jonathan B. Weis
Director of Corporate Communications
Entertainment Properties Trust
(816) 472-1700
Joe Keenan, Sturges & Word Inc.
(816) 221-7500
ENTERTAINMENT PROPERTIES TRUST ANNOUNCES
ADDITION OF HOUSTON THEATRE MEGAPLEX
KANSAS CITY, MO. (February 2, 1998) Entertainment
Properties Trust (NYSE:EPR), a Real Estate Investment Trust
(REIT) that owns entertainment-themed properties, today announced
it has purchased the Gulf Pointe 30 theatre megaplex form
American Multi-Cinema, Inc., a wholly-owned subsidiary of AMC
Entertainment, Inc.
The addition brings to 12 the number of megaplex theatres
Entertainment Properties owns in the United States since the
company became a publicly traded company in November of 1997.
Gulf Pointe is ranked 39th out of the top 100 grossing movie
theatres, year-to-date 1998, in the United States, according to
Entertainment Data, Inc.
Entertainment Properties Trust is a Real Estate Investment
Trust whose principal business strategy is to acquire and develop
diversified portfolio of high-quality properties leased to major
entertainment-themed business operators. The company's common
stock is traded on the New York Stock Exchange under the ticker
symbol EPR.
