Water park shifts ownership Dec. 1
Monday, November 14, 2016
HOT SPRINGS -- Magic Springs & Crystal Falls Water and Theme Park's property ownership and corporate management will change hands next month.
Magic Springs will be owned by EPR Properties as of Dec. 1, according to the park's general manager, Steve Honeycutt. The company agreed to purchase the park from its current owner, CNL Lifestyle Properties Inc.
The park, run by Amusement Management Partners, will be operated by Premier Parks when the property changes ownership, Honeycutt said.
Despite the changes, the park's employees will continue to work in their current positions with the same rate of pay, Honeycutt said.
"It's really business as usual," he said. "We'll just have more resources available to us, and I'll just run the park like I always have."
The change of ownership is part of a $700 million aggregate investment by EPR Properties that includes the purchases of 15 attraction properties, a ski resort and five small entertainment centers, according to a news release.
"We are extremely pleased to announce this transaction, which is the culmination of a two-year process of disciplined underwriting, due diligence and negotiations," EPR Properties President and Chief Executive Officer Gregory Silvers said in the release