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ERES or the
REIT )) announced today that it has entered into an agreement to acquire a multi-residential property located in Steenwijk, a city in the Dutch province of Overijssel (the
Steenwijk Property ). The building is comprised of 98 residential units which are 100% owned and currently 98% leased.
The €12.25 million (C$19 million) purchase price (excluding transaction costs and fees) represents an estimated forward capitalization rate of approximately 4.1%, and closing is anticipated on or around December 29, 2020. The Steenwijk Property is the fourth acquisition by ERES over the course of Q3 and Q4 2020, bringing total acquisition volume to €81 million (excluding transaction costs and fees) and increasing aggregate suite count by 415 units. The Steenwijk Property will be financed with currently available liquidity and long-term mortgage financing to be secured alongside the previously announced Doorwerth, Kairos and Mill transactions (which closed on Septembe
TORONTO, Dec. 15, 2020 (GLOBE NEWSWIRE) European Residential Real Estate Investment Trust (TSX: ERE.UN, “
ERES”) is pleased to announce that the trustees of ERES have declared the December 2020 monthly cash distribution of €0.00875 per Unit and Class B LP Unit (the “
December Distribution”), being equivalent to €0.105 per Unit annualized. The distribution will be payable to holders of the Units and Class B LP Units (the “
Unitholders”) of record on December 31, 2020, with payment on January 15, 2021.
The Euro-denominated distribution will be paid in Canadian dollars based on the exchange rate on the date of payment (estimated C$0.01351 per Unit and Class B LP Unit). Registered Unitholders will be provided with an option to elect to receive such distribution in Euros rather than Canadian dollars. If no such election is made, registered Unitholders will be paid the distribution in Canadian dollars based on the above exchange rate mechanism. Beneficial Unitholder
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TORONTO, Dec. 15, 2020 (GLOBE NEWSWIRE) European Residential Real Estate Investment Trust (TSX:ERE,
ERES )) is pleased to announce that the trustees of ERES have declared the December 2020 monthly cash distribution of €0.00875 per Unit and Class B LP Unit (the
December Distribution ), being equivalent to €0.105 per Unit annualized. The distribution will be payable to holders of the Units and Class B LP Units (the
Unitholders ) of record on December 31, 2020, with payment on January 15, 2021.
The Euro-denominated distribution will be paid in Canadian dollars based on the exchange rate on the date of payment (estimated C$0.01351 per Unit and Class B LP Unit). Registered Unitholders will be provided with an option to elect to receive such distribution in Euros rather than Canadian dollars. If no such election is made, registered Unitholders will be paid the distribution in Canadian dollars based on the above exchange rate mechanism. Beneficial Unitholders will