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CAPREIT and European Commercial REIT announce creation of Canada's first European-focused multi-residential REIT
CAPREIT and European Commercial REIT announce creation of Canada's first European-focused ...
About this update from European Residential Real Estate Invt Tr
[{"type":"text","content":"\n\n\n\nCAPREIT and European Commercial REIT announce creation of Canada's first European-focused multi-residential REIT\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen4{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt solid; PADDING-RIGHT:0.50em\n}\n.prngen5{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 1pt solid; BORDER-RIGHT:black 1pt solid; BORDER-BOTTOM:black 1pt solid; PADDING-LEFT:0.50em; BORDER-LEFT:black 1pt solid; PADDING-RIGHT:0.50em\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prntbls{\nBORDER-TOP: black 1px solid; BORDER-RIGHT: black 1px solid; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: black 1px solid; BORDER-LEFT: black 1px solid\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 11, 2018\n\n\n\nTransformational transaction combines two European portfolios to focus on attractive European multi-residential market backed by Canada's pre-eminent multi-residential owner/manager \n TORONTO, Dec. 11, 2018 /CNW/ - Canadian Apartment Properties Real Estate Investment Trust (TSX:CAR.UN, \"CAPREIT\") and European Commercial Real Estate Investment Trust (TSX-V:ERE.UN, \"ECREIT\") today announced the entering into of an agreement pursuant to which ECREIT will acquire a portfolio of multi-residential properties located in the Netherlands (the \"Properties\") from CAPREIT, comprising 2,091 suites in 41 properties (the \"Transaction\"). The purchase price for the Properties of $634 million (the \"Purchase Price\") is based on an independent appraisal dated December 4, 2018 and will be satisfied as follows: (i) $239 million through the issuance of 59.6 million ECREIT units to CAPREIT at a price of $4.00 per unit; (ii) $88 million through a cash payment, ...