Cinema Chain And REIT In New Partnership

Posted by Orb Staff on March 21, 2012 No Comments
Categories : Commercial Mortgage

11140_carmike Cinema Chain And REIT In New Partnership Carmike Cinemas Inc., a Columbus, Ga.-based digital cinema and 3D film exhibitor, has launched a new business relationship with Entertainment Properties Trust, a Kansas City, Mo.-based specialty real estate investment trust (REIT), to construct a new 13-screen multiplex theater in the Champaign, Ill., market. According to the companies, the new Carmike 13 will feature seating for over 2,800 guests, plus an upscale lobby and multiple concession areas.

‘Carmike is transitioning to a growth mode, focused on further expanding our circuit and geographical footprint in both existing and new markets,’ says David Passman, president and CEO of Carmike Cinemas, which has 237 theaters with 2,254 screens in 35 states. ‘We are also actively seeking accretive acquisition opportunities.’

‘We are already achieving significant progress toward meeting our 2012 full-year investment spending guidance and are truly delighted to include Carmike's forthcoming 13-plex as one of three new enhanced-experience, build-to-suit agreements,’ says David Brian, president and CEO of Entertainment Properties Trust.

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