TORONTO, Jan. 16, 2023 (GLOBE NEWSWIRE) — European Residential Real Estate Investment Trust (TSX: ERE.UN,Eres”) that the ERES Trustee will sell 1 unit and a Class B LP unit (“Distribution in January”), equivalent to €0.12 per unit annually. Distributions are paid to holders of Units and Class B LP Units (seeinvestor”) will be recorded on January 31, 2023 and paid on February 15, 2023.
Distributions denominated in Euros will be paid in Canadian dollars based on the exchange rate on the date of payment (estimated C$0.01446 per Unit and Class B LP Unit). Registered Shareholders will be provided with the option to elect to receive distributions in Euros rather than Canadian Dollars. If no such election is made, registered unitholders will be paid distributions in Canadian dollars based on the exchange rate mechanism described above. Beneficial Shareholders do not have the option to choose to receive distributions in Euros. The final cash distribution for December 2022 was C$0.01446 per unit and Class B LP units.
To encourage participation and reward loyal beneficiaries, investors enrolled in the Distribution Reinvestment Plan will continue to receive an additional amount equal to 5% of the distribution paid in the form of Additional Units.
ERES intends to continue regular monthly distributions at the discretion of the ERES Board. ERES continues to target AFFO payout percentages in the 80% to 90% range. The ERES Limited Partnership will make corresponding cash distributions to holders of Class B LP units.
ERES is an unincorporated open-ended real estate investment trust. ERES units are listed on the TSX under the symbol ERE.UN. ERES is Canada’s only European-focused multifamily REIT and is currently focused on investing in high quality multifamily real estate in the Netherlands. ERES owns a portfolio of 158 multi-family residences consisting of 6,900 suites and attached retail spaces in the Netherlands, one office facility in Germany and he owns one office facility in Belgium. increase.
ERES’s registered principal office is at 11 Church Street, Suite 401, Toronto, Ontario M5E 1W1.
For more information, please visit our website www.eresreit.com.
For more information
Mr Philip Burns
chief executive officer
Ms Jenny Chow