ERES REIT Declares August 2024 Monthly Distribution
15 Agosto 2024 - 9:00AM
European Residential Real Estate Investment Trust (TSX: ERE.UN,
“
ERES”) is pleased to announce that the trustees
of ERES have declared the August 2024 monthly cash distribution of
€0.01 per Unit and Class B LP Unit (the “
August
Distribution”), being equivalent to €0.12 per Unit
annualized. The distribution will be payable to holders of the
Units and Class B LP Units (the “
Unitholders”) of
record on August 30, 2024, with payment on September 16, 2024.
The Euro-denominated distribution will be paid
in Canadian dollars based on the exchange rate on the date of
payment (estimated C$0.01497 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 July 2024 was C$0.01497 per Unit and Class B LP
Unit.
To encourage participation and reward our loyal
Unitholders, investors registered in our Distribution Reinvestment
Plan will continue to receive an additional amount equal to 5% of
their distributions paid in the form of additional Units.
ERES intends to continue to make regular monthly
distributions, subject to the discretion of the ERES Board of
Trustees. ERES continues to target a long-term AFFO payout ratio in
the range of 80% to 90%. 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
June 30, 2024, ERES owned 157 multi-residential properties,
comprised of approximately 6,750 residential suites and ancillary
retail space located in the Netherlands, and owned one commercial
property in Germany and one commercial property in Belgium.
ERES’s registered and principal business office
is located at 11 Church Street, Suite 401, Toronto, Ontario M5E
1W1.
For more information, please visit our website
at www.eresreit.com.
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 |
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