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SOURCE Patoka Capital
HOUSTON, Jan. 12, 2018 /PRNewswire/ -- Patoka Capital LLC, a Southern Indiana based private investment firm, and Xscape Theatres are proud to announce the ground breaking and construction of a new Xscape Movie Theatre in the Houston area.
A theatre planned for The Woodlands, TX will be located at 16051 Old Conroe Road, Conroe, TX 77384. While the main access will be onto Old Conroe, it will also have access to and from FM 1488, according to the site plan. The site is just north of the Del Webb Woodlands development.
Patoka Capital is using a 12-screen design for its Houston area theatres. Each has an approximate cost of $15 million to build. Of the 12 screens, two are designated to be "Extreme Screens" with 70-foot widths, 4K digital projection, and a cutting-edge wall-to-ceiling Dolby Atmos surround sound system. This 12-screen model has about 1,530 stadium-style plush electric reclining leather seats and a lobby area of 2,780 gross square feet.
The facilities will include large surface parking lots with more than 500 spaces. The Woodlands project has an estimated completion date of June 2018.
"Our experience building and designing movie theatres over the last two decades has led us to this design. The response that we have received from the residents of The Woodlands, Conroe, and the surrounding communities has been fantastic and we look forward to bringing Hollywood to The Woodlands." Chance Ragains, CEO, Patoka Capital and President, Xscape Theatres.
About Patoka Capital
Patoka Capital is a closely-held private equity firm with a track record of partnering with management teams and successfully scaling businesses. Their sole mission is to build long-term value by acquiring and growing privately held businesses.
Patoka Capital is actively looking to partner with owners who are dedicated to ensuring the long-term success of their business. Patoka Capital invests a pool of its own committed equity capital and is not an institutional fund. They define success by the contributions they make to their customers, employees, stakeholders and the community. For more information visit www.patokacapital.com.
About Xscape Theatres
Xscape Theatres is a New Albany, Indiana based, privately owned motion picture exhibition company. Xscape has set the standard for first class entertainment offering wide body reclining seats and digital projection in all auditoriums. It currently operates the Xscape 14 in Brandywine, MD, Xscape 14 in Cincinnati, OH, Xscape 16 in Louisville, KY, Xscape 14 in Howell, NJ, and Xscape 14 in Riverview, FL. For more information visit www.xscapetheatres.com.
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