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ERES REIT Announces Closing of C$144 Million Equity Financing and Closing of Euro105 Million Acquisition
ERES REIT Announces Closing of C$144 Million Equity Financing and Closing of €105 M...
About this update from European Residential Real Estate Invt Tr
[{"type":"text","content":"\n\n\n\nERES REIT Announces Closing of C$144 Million Equity Financing and Closing of €105 Million Acquisition\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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; 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.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 18, 2019\n\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/\n TORONTO, Dec. 18, 2019 /CNW/ - European Residential Real Estate Investment Trust (TSX-V:ERE.UN, \"ERES\") announced today that it has closed its previously announced issue and sale of 30,915,400 trust units (the \"Units\") at a price of C$4.65 per Unit for aggregate gross proceeds of C$143,756,610 (the \"Offering\"), which includes the exercise in full of the over-allotment option. The Offering was sold through a syndicate of underwriters led by RBC Capital Markets on a bought-deal basis. Additionally, ERES announced the closing of its previously announced acquisition of a Netherlands property (the \"Kameleon Property\") for approximately €105 million (excluding transaction costs and other adjustments).\nThe Kameleon Property is a 17-storey property, consisting of 222 residential suites, approximately 9,900 square meters of ancillary retail space and 432 indoor parking spaces.  The property, which was built in 2012, is located in southeast Amsterdam, in close proximity to the city centre and has direct access to the city's extensive train network.\nThe acquisition of the Kameleon Property, which closed on December 16, 2019, was financed with: (i) a promissory note issued to CAPREIT (the \"CAPREIT Promissory Note\") in the principal a...