EPR Properties Acquires Village Vacances Valcartier and Calypso Properties

On June 2, 2022, EPR Properties, a real estate investment trust specializing in experiential properties, announced the US$142 million acquisition of the Village Vacances Valcartier resort and hotel in Quebec City and Calypso Waterpark in Ottawa, Ontario. Simultaneous with the acquisition, EPR Properties leased the properties to Premier Parks LLC, pursuant to a long-term triple-net lease.

The Village Vacances Valcartier is a four-season resort covering approximately 225 acres, offering indoor and outdoor waterpark attractions and winter activities, such as tubing and sledding, over 600 campground sites and a variety of dining options. The resort also includes the 153-room Hotel Valcartier, Hotel de Glace (ice hotel) and Aroma Spa.

Calypso Waterpark is the largest themed-waterpark in Canada, covering approximately 350 acres with 35 water slides, two lazy rivers and the largest wave pool in the country.

Aird & Berlis acted as Ontario counsel to Premier Parks LLC with a team led by Aaron Bains and including Matthew Hibbert and Lynn Tay (Corporate/Commercial), Mistrale Lepage-Chouinard and Sacha Nelson (Real Estate), Laura Dean and Sandra Marki (Municipal & Land Use Planning), Angelo Gentile (Tax), Dasha Peregoudova (Labour & Employment) and Max Muñoz (Litigation & Dispute Resolution).