TORONTO, March 17, 2025 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (TSX: ERE.UN, "ERES") is pleased to announce that the trustees of ERES have declared the March 2025 monthly cash distribution of €0.005 per Unit and Class B LP Unit (the "March 2025 Distribution"), being equivalent to €0.06 per Unit annualized. The distribution will be payable to holders of the Units and Class B LP Units (the "Unitholders") of record on March 31, 2025, with payment on April 15, 2025.
The Euro-denominated distribution will be paid in Canadian dollars based on the exchange rate on the date of payment (estimated C$0.00780 per Unit and Class B LP Unit). Registered Unitholders will be provided with an option to elect to receive such distribution in Euros rather than Canadian dollars. If no such election is made, registered Unitholders will be paid the distribution in Canadian dollars based on the above exchange rate mechanism. Beneficial Unitholders will not have an option to elect to receive the distribution in Euros. The final cash distribution in respect of February 2025 was C$0.00780 per Unit and Class B LP Unit.
ERES intends to continue to make regular monthly distributions, subject to the discretion of the ERES Board of Trustees. ERES Limited Partnership will make corresponding cash distributions to holders of Class B LP Units.
About ERES
ERES 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 December 31, 2024, ERES owned 3,009 residential suites, including 311 suites classified as assets held for sale, and ancillary retail space located in the Netherlands, and owned one commercial property in Germany and one commercial property in Belgium, with a total fair value of approximately €838.7 million, including approximately €64.7 million of assets held for sale. 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.
ERES's registered and principal business office is located at 11 Church Street, Suite 401, Toronto, Ontario M5E 1W1.
| For further information | |
| ERES | ERES |
| Mr. Mark Kenney | Ms. Jenny Chou |
| Chief Executive Officer | Chief Financial Officer |
| 416.861.9404 | 416.354.0188 |
| m.kenney@capreit.net | j.chou@capreit.net |
