Regency AMC 24 theater sold for $26.2 million
AMC Regency 24's recently renovated theater was sold last week to a Kansas City investment group for $26.2 million, the Financial News and Daily Record found in the Duval County Clerk of Court filing.
A deed signed Friday and recorded Tuesday showed that the theater was sold to 30 West Pershing group, which is part of EPR Properties of Kansas City, a real estate investment trust that owns 135 megaplex theaters in at least 34 states and Ontario, as of the end of its fiscal year.
According to the deed, EPR Properties bought the AMC Regency theater and 11 acres at 9451 Regency Square Blvd., and another 1.04 acres for parking near the site. AMC leases the theater property.
The recorded price is triple the value of the property and double what the sellers paid for the entire Regency Square Mall last year, according to Financial News managing editor Karen Brune Mathis.
No one involved with the sale commented on the transaction or how the pricing was derived.
The general manager of Regency Square Mall declined comment and an owner did not return two phone calls.
Brian Moriarty, a spokesman for EPR Properties, said he could not comment on the sale.
AMC recently renovated the 24-screen Regency theater. Construction alone was estimated at $2.93 million. In addition to new recliner seating, plans show remodeled restrooms, a renovated concession area and MacGuffins Bar.
The 24 auditoriums include an IMAX screen. The 100,704-square-foot Regency theater was built in 1999 when AMC left the inside of Regency Square Mall.
Duval County property records show the assessed value of the theater property is $8.2 million and the nearby parking lot for $262,500, totaling almost $8.5 million.
Among the 135 megaplex theaters owned by EPR Properties seven are in Florida -- in Davie, Hialeah, Melbourne, Panama City Beach, Pensacola, Pompano Beach and Tampa.