ERES Enters Into Agreements to Sell Three Properties for €68 Million – The Canadian Business Journal

TORONTO, Nov. 28, 2025 (GLOBE NEWSWIRE) — European Residential Real Estate Investment Fund (“European Residential Real Estate Investment Fund”).ARE” or “REIT(TSX:ERE.UN) today announced that it has entered into agreements to sell three properties containing a total of 322 residential apartments in the Netherlands for a total consideration of approximately €67.8 million. All amounts stated herein are exclusive of transaction costs and other customary adjustments.

Through certain of its subsidiaries, ERES has entered into separate sales agreements:

1. An unencumbered property with 33 apartments in Roermond for approximately €10.0 million;
2. Unencumbered property with 88 apartments in Valkenburg for approximately EUR 15.0 million; And
3. A property containing 201 suites in Arnhem valued at approximately €42.8 million, with part of the proceeds to be used to repay approximately €15.2 million of associated mortgage debt (collectively “Expected solutions“).

Subject to satisfaction of closing conditions, completion of the Expected Sale is expected to occur between January and April 2026, with the net proceeds being used for general trust purposes. There can be no assurance that all closure requirements for Pending Resolutions will be met, satisfied or waived.

Updating the sales process

The pending sales represent attractive transaction values ​​for individual assets and support the REIT's ongoing divestment process of the remaining portfolio. By entering into these agreements, the REIT has greater flexibility to pursue a potential final transaction as a single block. BMO Capital Markets was retained as financial advisor and assisted in the review of individual asset sales, including pending sales, and advised on a potential block transaction for the remaining portfolio.

There can be no assurance that the sale process will result in the successful completion of the sale of any portion of the remaining portfolio or that any such sales will be completed at or above their previously stated fair value in accordance with IFRS. Any transaction may involve significant costs and expenses, including those related to the previously disclosed revaluation of certain subsidiaries by the Dutch Tax Office.

“As previously stated, we continue to explore several strategic opportunities to enhance value, including attractive single asset sales such as this.” commented Mark Kenny, CEO. “With the expected closure of upcoming transactions, the remaining ERES portfolio consists of approximately 700 residential apartments and ancillary retail space in the Netherlands.. We are committed to unlocking maximum value in this portfolio and returning returns to unitholders, and we will provide further updates as soon as they become available.”

ABOUT ERES
ERES is a non-corporate open-end 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, with a current portfolio of high-quality multiresidential properties in the Netherlands. As at 30 September 2025, ERES owned 1,033 residential apartments and ancillary retail premises located in the Netherlands, the total fair value of which was approximately €311.7 million. For more information about ERES, its business and investment highlights, please visit our website at: www.eresreit.com and our public disclosures, which can be found on our profile on SEDAR+ at www.sedarplus.ca.

CAUTIONARY DISCLAIMERS REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this press release constitute forward-looking information within the meaning of applicable Canadian securities laws that reflect ERES's current expectations and projections regarding future performance. Forward-looking information can generally be identified by forward-looking terminology such as “outlook”, “objectively”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “consider”, “should”, “plan”, “forecast”, “estimate”, “forecast”, “potential”, “may”, “likely”, “estimated”, “scheduled”, “forecast”, “variation” or “continue” or similar expressions suggesting future results or events. The forward-looking information in this press release speaks only of events or information as of the date on which the statements are made in this press release. Actual results and events may differ and may differ materially from those expressed or implied by the forward-looking information contained in this press release. Any number of factors could cause actual results to differ materially from this forward-looking information. Although ERES believes that the expectations reflected in the forward-looking information are reasonable, it can give no assurance that the expectations in any forward-looking information will prove to be correct. Such forward-looking information is based on a number of assumptions that may prove to be incorrect, including with respect to the satisfaction of closing conditions with respect to the Pending Transactions, the expected completion and timing of the Pending Transactions and the expected use of proceeds from the Pending Transactions. Accordingly, readers should not place undue reliance on forward-looking information.

The forward-looking information in this press release is subject to certain risks and uncertainties, many of which are beyond ERES's control, which could cause actual results to differ materially from such forward-looking information. These risks and uncertainties include, but are not limited to, those described under the heading “Risks and Uncertainties” in ERES’s 2024 Annual Report and under the heading “Risk Factors” in ERES’s Annual Information Form for the year ended December 31, 2024, each of which is available under ERES’ profile on SEDAR+ at www.sedarplus.ca.

Except as specifically required by applicable Canadian securities laws, ERES undertakes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, after the date the information is provided or to reflect the occurrence of unanticipated events. This forward-looking information should not be relied upon as reflecting the views of ERES as of any date subsequent to the date of this press release.

For more information contact:

CBJ Newsmakers