USA, New York City, New York. March 20, 2024

RobertDouglas announced today that it represented, as exclusive advisor, The Mirbeau Companies (Mirbeau), developer and operator of Mirbeau Inn & Spa resorts and the Mirbeau wellness brand, in arranging a strategic capital partnership with EPR Properties (NYSE: EPR), the leading diversified experiential real estate investment trust (REIT) specializing in select enduring experiential properties in the real estate industry.

EPR Properties is providing $77 million in convertible mortgage financing to recapitalize Mirbeau's existing portfolio as well as over $47 million of forward funding commitments to finance the brand's expansion regionally and nationally.

"We could not have been more pleased to bring together Mirbeau, the best-in-class, experiential spa & hospitality concept and EPR Properties, the leading diversified experiential real estate investment trust. These two partners are perfectly positioned to grow the Mirbeau brand nationally," said Matthew Dower, RobertDouglas Managing Director, "This partnership will allow Mirbeau, as long-term operators, to focus on identifying and developing new locations and brand development, while offering the flexibility and efficient capital an institutional player like EPR brings."

Debuted in 2000, family-owned and operated Mirbeau Inn & Spa is a nationally renowned destination spa-focused resort brand, with locations in Skaneateles, NY, Plymouth, MA, and Rhinebeck, NY, inspired by the architecture and grace of French chateaus. A fourth location is under development for Beacon, NY. Mirbeau, loosely translated as "reflected beauty," further embraces characteristics of French Impressionist art, fostering introspective reflection and simple elegance throughout its facilities.

Mirbeau's reputation as leaders in the wellness, design, and travel space of the hospitality landscape is strengthened by their receipt of the prestigious Forbes Travel Guide's 2023 Four-Star Award across multiple properties, which is a testament to each property's unwavering commitment to providing exceptional service, amenities, and experiences to its guests.

"We are exceptionally pleased to once again be working with EPR Properties to ally institutional equity with a unique and highly profitable lodging platform that expands the hospitality space, in this case, a wellness-focused one," said Douglas P. Hercher, RobertDouglas Principal and Managing Director, "EPR is an outstanding partner for Mirbeau with its rich experience in and broad commitment to experiential lodging."

"We have found an outstanding partner in EPR for our existing and prospective development pipeline," said Michael J. Dal Pos, Mirbeau Chief Executive Officer, "We will continue to focus on iconic, get-away destinations within a 2-hour drive of major metropolitan areas; untapped markets with minimal local competition and strong demand for upscale spa services."

"We want to thank RobertDouglas for all their efforts in making this transaction happen; they are investment banking leaders who appreciate the dynamics and potential of our target experiential properties, and this partnership with Mirbeau adds to our growing portfolio of wellness partners," said Aaron Linn, Vice President of Investments for EPR Properties. "Mirbeau is a great brand backed by impeccable operations and marketing, which we believe has national, category-leading potential."

About Mirbeau

For nearly 20 years, The Mirbeau Companies have successfully developed and managed European inspired boutique hotels, spas and resorts including the award-winning Mirbeau Inn & Spa and Spa Mirbeau brands. Family-owned and operated, Mirbeau Inn & Spa is a nationally-renowned destination resort brand, with locations in Skaneateles, NY, Plymouth, MA, and Rhinebeck, NY. The first Spa Mirbeau, a unique "Day Resort" concept offering all of the amenities of a full resort experience to regional customers close to home, opened in the fall of 2017 in Albany, NY. Mirbeau, loosely translated as "reflected beauty," embraces characteristics of French Impressionist art including introspective reflection and simple elegance throughout its facilities. More information at mirbeau.com.

About EPR Properties

EPR Properties (NYSE:EPR) is the leading diversified experiential net lease real estate investment trust (REIT), specializing in select enduring experiential properties in the real estate industry. We focus on real estate venues which create value by facilitating out of home leisure and recreation experiences where consumers choose to spend their discretionary time and money. We have total assets of approximately $5.7 billion (after accumulated depreciation of approximately $1.4 billion) across 44 states. We adhere to rigorous underwriting and investing criteria centered on key industry, property and tenant level cash flow standards. We believe our focused approach provides a competitive advantage and the potential for stable and attractive returns. Further information is available at www.eprkc.com.