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European Residential REIT Reports Second Quarter 2025 Results
TORONTO, Aug. 06, 2025 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust ("ER...
About this update from European Residential Real Estate Invt Tr
[{"type":"text","content":"European Residential REIT Reports Second Quarter 2025 Results\n\n\n\n TORONTO, Aug. 06, 2025 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (\"ERES\" or the \"REIT\") (TSX: ERE.UN) announced today its results for the three and six months ended June 30, 2025.\n \n\n ERES’s unaudited condensed consolidated interim financial statements and management's discussion and analysis (\"MD&A\") for the three and six months ended June 30, 2025 can be found at\n \n\n www.eresreit.com\n \n\n or under ERES's profile at SEDAR+ at www.sedarplus.ca.\n \n\n\n SIGNIFICANT EVENTS AND HIGHLIGHTS\n \n\n\n\n Strategic Initiatives Update\n \n\n\n\n During the six months ended June 30, 2025, through a number of transactions, the REIT disposed of ten residential properties in the Netherlands, which included the assets held for sale as at December 31, 2024, for total gross proceeds of €90.0 million.\n \n\n During the six months ended June 30, 2025, the REIT disposed of two individual residential suites in the Netherlands for gross proceeds of €0.9 million.\n \n\n In addition, the REIT has sold its Belgian commercial property on July 31, 2025, and also entered into agreements to sell its German commercial property and one of the residential properties in the Netherlands, which are expected to close in the third quarter of 2025, for approximately €52.8 million in aggregate gross proceeds.\n \n\n On April 2, 2025, the REIT announced that it has entered into an agreement to sell entities owning 1,446 residential suites in the Netherlands for gross proceeds, net of estimated adjustments, of approximately €337.3 million. Subject to the satisfaction of closing conditions, the announced disposition is expected to close on September 15, 2025. There can be no assurance that all requirements for closing will be obtained, satisfied or waived.\n \n\n Subject to the completion of certain pending dispositions in accordance with the terms and timing disclosed, the REIT has announced an intention to declare a special distribution to Unitholders of an estimated €0.90 per Unit, payable in cash in September 2025. The special distribution has not yet been declared and there can be no assurance as to the timing or quantum of such a distribution. The REIT also announced its intention to cease its regular monthl...