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USATT

EPR Looking for Buyer or Partner As VinREITs Get Hammered

The nation’s largest winery and vineyard sale/leaseback financier —¬† Entertainment Properties Trust (NYSE: EPR) — is being rocked by its clients’ poor performance and outright defaults according to its most recent 10-Q quarterly report filed with the Security and Exchange Commission.

The result, multiple industry sources familiar with the situation have told Wine Industry Insight, is that the multi-billion-dollar REIT is having second thoughts about being in the wine business and is seeking either an outright buyer for its $170-million wine portfolio, or a substantial partner to share the risk.

For more information about EPR, see major WII article: “New Finance For The Wine Biz: Major REIT Steps In As Banks Beg For Bailouts – CEO Talks Strategy, Deal Size, Type, Location” ($ VIP)

VIP Subscribers click here to read the complete, un-redacted article.

(The remainder of the following sections is available to VIP Premium Subscribers)

  • ALL OPTIONS ON THE TABLE
  • LARGE HIGH PROFILE INVESTMENTS
  • DEFAULTS AND DELAYS: CONSENTINO, HAVENS, CARNEROS VINTNERS
  • EOS/SAPPHIRE WINES: HABITUALLY LATE PAYING, NOTE CONSIDERED “IMPAIRED”
  • RB WINE ASSOCIATES RECEIVES¬† 15% INTEREST, $2 MILLION CREDIT FACILITY FOR RACK AND RIDDLE
  • MONEY STILL AVAILABLE FOR WINE INVESTMENTS

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