European Residential Real Estate Investment Trust Announces Unitholder Approval and Anticipated Closing Date of Arrangement With Canadian Apartment Properties Real Estate Investment Trust

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[{"type":"text","content":"European Residential Real Estate Investment Trust Announces Unitholder Approval and Anticipated Closing Date of Arrangement With Canadian Apartment Properties Real Estate Investment Trust \nTORONTO, April 27, 2026 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (TSX: ERE.UN) (“ERES” or the “REIT”) announced today that at its special meeting of the holders (“Unitholders”) of trust units (“REIT Units”) and special voting units (“SVUs” and together with the REIT Units, the “Units”) of the REIT held today (the “Meeting”), Unitholders approved the special resolution (the “Arrangement Resolution”) pertaining to the previously announced arrangement (the “Arrangement”) with Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”), pursuant to which an affiliate of CAPREIT will acquire all of the issued and outstanding REIT Units not already owned by CAPREIT and its affiliates for consideration of $1.19 per REIT Unit in an all-cash transaction. Accordingly, the REIT expects closing of the Arrangement to occur on or around May 1, 2026, subject to customary closing conditions including court approval (described below). The Arrangement Resolution was approved by (a) not less than 66 2/3% of the votes cast on the Arrangement Resolution by holders of the REIT Units and the SVUs, voting together as a single class, present in person or represented by proxy and entitled to vote at the Meeting; and (b) a majority of the votes cast on the Arrangement Resolution by Unitholders present in person or represented by proxy and entitled to vote at the Meeting, other than the votes of CAPREIT and its affiliates and certain trustees and officers of CAPREIT, and their respective joint actors, in each case in accordance with section 8.1(2) of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). A total of 193,794,884 votes were cast at the Meeting, representing 82.414% of the votes attached to the issued and outstanding Units as of the record date of March 16, 2026 (the “Record Date”) and 49.588% of the votes attached to the issued and outstanding Units as of the Record Date, excluding th...

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