European Residential Real Estate Investment Trust Announces Completion of Going-Private Transaction with Canadian Apartment Properties Real Estate Investment Trust

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[{"type":"text","content":"European Residential Real Estate Investment Trust Announces Completion of Going-Private Transaction with Canadian Apartment Properties Real Estate Investment Trust\nThis news release constitutes a “designated news release” for the purposes of CAPREIT’s prospectus supplement dated May 15, 2025, to its short form base shelf prospectus dated May 15, 2025. Not for distribution to U.S. newswire services or for dissemination in the United States. TORONTO, May 01, 2026 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (“ERES”) (TSX: ERE.UN) and Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX: CAR.UN) today announced the successful completion of their previously-announced plan of arrangement transaction (the “Arrangement”), pursuant to which an affiliate of CAPREIT acquired all of the issued and outstanding units of ERES (each, an “ERES Unit”) not already owned by CAPREIT and its affiliates for consideration of $1.19 per ERES Unit. The Arrangement became effective earlier today. As a result of the completion of the Arrangement, the ERES Units are expected to be delisted from the Toronto Stock Exchange (the “TSX”) shortly after the date hereof. ERES has submitted an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations. Further details regarding the Arrangement are set out in ERES’s management information circular dated March 24, 2026, which is available under ERES’s issuer profile on SEDAR+ at www.sedarplus.ca. Required Early Warning Disclosure Further to the requirements of National Instrument 62-104 – Take-Over Bids and Issuer Bids and National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, CAPREIT will file an amended early warning report in connection with the completion of the Arrangement. Immediately prior to the completion of the Arrangement, CAPREIT held an approximate 65% effective interest in ERES, assuming exchange of all Class B LP Units, through the ownership of, or the control or direction over, 10,197,000 ERES Units and 142,040,821 Class B LP Units (and related special voting units of ERES). Following completion of the Arran...

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