Investments and Dispositions |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | Investments and Dispositions The Company's investment spending during the nine months ended September 30, 2026 totaled $664.5 million and included the acquisition of seven attraction properties from Six Flags Entertainment Corporation for a total of $304.4 million. Enchanted Parks (formerly Innovative Attraction Management) is operating the six U.S. properties under a long-term triple-net master lease, and La Ronde Operations, Inc. is operating the Canadian property under a long-term triple-net lease. Investment spending for the nine months ended September 30, 2026 also included $251.4 million for the acquisition of two eat & play properties, two additional attraction properties and four fitness and wellness properties. In addition, investment spending for the nine months ended September 30, 2026 included $41.9 million of mortgage financing secured by two fitness and wellness properties and one experiential lodging property, as well as initial spending on a build-to-suit live performance venue. The remaining investment spending for the nine months ended September 30, 2026 related to other experiential build-to-suit development and redevelopment projects. The aggregate investment spending for the nine months ended September 30, 2026 is as follows (in thousands):
(1) Intangible assets and liabilities are included in "Other assets" and "Accounts payable and accrued liabilities," respectively, in the accompanying consolidated balance sheets. The weighted average amortization periods for intangible assets and intangible liabilities are 19.5 years and 15.8 years, respectively. During the three and nine months ended September 30, 2026, the Company completed the sale of one private school property for net proceeds of $68.2 million and recognized a gain on real estate transactions totaling $30.5 million. Disposition proceeds for the nine months ended September 30, 2026 totaled $85.4 million and included $16.5 million in repayments of mortgage notes and notes receivable.
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