As Regal Cinemas’ parent company gets set to emerge from bankruptcy, it has reached a deal with one of its biggest landlords to surrender 16 movie theaters across the U.S. and come to a new agreement on dozens of cinemas that will stay open.
Kansas City, Missouri-based EPR Properties announced Thursday that it has come to terms with Regal on a new master lease agreement covering 41 movie theaters in its portfolio operated by the cinema giant. Under the agreement, Regal has agreed to pay an annual fixed rent of $65M that escalates by 10% every five years and will forgive Regal more…