SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT
                      Pursuant to Section 13 or 15(d)of the
                         Securities Exchange Act of 1934


                Date of Report (Date of earliest event reported):
                                February 27, 2003


                         ENTERTAINMENT PROPERTIES TRUST
             (Exact Name of Registrant as Specified in its Charter)


         Maryland                    1-13561                     43-1790877
----------------------------    ------------------------  ----------------------
(State or other jurisdiction    (Commission file number)        (IRS Employer
   of incorporation)                                      Identification Number)


          30 West Pershing Road, Suite 201, Kansas City, Missouri 64108
               (Address of Principal Executive Office) (Zip Code)

                                 (816) 472-1700
               Registrant's telephone number, including area code:


                                 Not Applicable
          (Former name or former address if changed since last report)





Item 5. OTHER EVENTS

     On February 27, 2003, a subsidiary of the Company  issued $155.5 million in
commercial mortgage pass-through certificates.  The certificates have a weighted
average  interest rate of 5.65 percent and are payable on the basis of a 20-year
amortization,   with  the  principal  balance  due  at  maturity  in  2013.  The
certificates  are secured by first mortgages on 15 megaplex  theatre  properties
located  in  Kansas,  California,  Louisiana,  Florida,  North  Carolina,  South
Carolina,  Virginia, Michigan, Illinois and Nebraska. The certificates were sold
to institutional  investors in a transaction under Rule 144A and Regulation S of
the Securities and Exchange  Commission.  The Company received a total of $155.1
million in loan proceeds of which  approximately $92 million was used to pay off
existing  mortgage  indebtedness  on the properties and $6.3 million was used to
pay fees and expenses related to the transaction. The remaining $56.8 million in
net proceeds  will be used in the  acquisition  of additional  megaplex  theatre
properties and other general corporate purposes.

Item 7. FINANCIAL STATEMENTS AND EXHIBITS

(c) Exhibits   Description of Exhibit
------------   ----------------------

10.21          Loan  Agreement,  dated  February 27, 2003 among Flik,  Inc.,  as
               Borrower, EPT DownREIT,  Inc., as Indemnitor and Secore Financial
               Corporation as Lender.




SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                     ENTERTAINMENT PROPERTIES TRUST


                                     -------------------------------------------
Date:  March 4, 2003                 By  /s/ Fred L. Kennon
                                          Vice President, Treasurer and Chief
                                          Financial Officer