EPR Properties, the real estate investment trust that holds the mortgage on the Schlitterbahn water park in Kansas City, Kansas, has expressed concern that indictments against the water park’s co-owner and operator could jeopardize repayment of the $174.3 million balance on its loan.
Kansas City-based EPR said that in a filing with the Securities and Exchange Commission, providing the first public acknowledgement that the indictments pose a threat to Schlitterbahn’s Kansas City park — and perhaps the entire company.
The indictments stem from the 2016 death of a 10-year-old boy on one of the park’s water slides.
EPR said that if Schlitterbahn defaults on the Kansas City mortgage, EPR could restructure the loan or foreclose on collateral backing the loan. That collateral includes the Kansas City property, as well as two parks in Texas.
Read more: Kansas City Star