Business
ERES Enters Into Agreement to Sell 88-Suite Property for Euro21 Million
TORONTO, Dec. 24, 2025 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (&#x...
About this update from European Residential Real Estate Invt Tr
[{"type":"text","content":"ERES Enters Into Agreement to Sell 88-Suite Property for €21 Million\nTORONTO, Dec. 24, 2025 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (“ERES” or “the REIT”) (TSX:ERE.UN) announced today that it has entered into an agreement to sell an unencumbered 88-suite property in Schiedam, the Netherlands, for approximately €20.6 million, excluding transaction costs and other customary adjustments (the “Pending Disposition”). Subject to the satisfaction of closing conditions, completion of the Pending Disposition is anticipated in March 2026, with net proceeds intended to be used for general trust purposes. There can be no assurance that all requirements for closing of the Pending Disposition will be obtained, satisfied or waived. “As a follow on to our last update, we’ve been pursuing a series of select individual asset sales that will best position our remaining portfolio for a potential final en-bloc transaction,” commented Mark Kenney, Chief Executive Officer. “To wrap up this phase of the sale process, we’ve now signed one additional deal to strategically dispose of the Schiedam property at a compelling price. Subject to completion of all four of these announced single property dispositions, we have around 600 suites left for sale, which together represent an attractive, integrated portfolio in the Netherlands.” ABOUT ERESERES is an unincorporated, open-ended real estate investment trust. ERES’s Units are listed on the TSX under the symbol ERE.UN. ERES is Canada’s only European-focused multi-residential REIT, with a current portfolio of high-quality, multi-residential real estate properties in the Netherlands. As at September 30, 2025, ERES owned 1,033 residential suites and ancillary retail space located in the Netherlands, with a total fair value of approximately €311.7 million. For more information about ERES, its business and its investment highlights, please visit our website at www.eresreit.com and our public disclosure which can be found under our profile on SEDAR+ at www.sedarplus.ca.        CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATIONCertain statements contained in this press release constitute forward-looking information withi...