The €26.25 million (
The Kairos Portfolio, located in the municipalities of Hoogezand, Emmen, Hardenberg, Enschede and Maastricht, was constructed between 1997 and 2005, and given the age and quality of the properties ERES anticipates relatively modest capital expenditure needs. The properties reside in green and child-friendly neighbourhoods nearby primary schools, recreational areas and shopping centres, with direct connections to the city centres either by bicycle or by bus accessible within walking distance.
In addition, ERES completed the previously-announced purchase of a multi-residential property located in the municipality of Renkum in the eastern
“We maintain our confidence in the attractiveness of the Dutch multi-residential real estate market, including its defensive characteristics. Amidst the continued disruptiveness characterizing today’s economic reality, the acquisition of the Kairos Portfolio and Doorwerth Property evidences our ability to accretively add attractive assets to our growing portfolio”, commented
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 initial focus on investing in high-quality, multi-residential real estate properties in
ERES’s registered and principal business office is located at
For more information, please visit our website at www.eresreit.com.
Cautionary Statements Regarding Forward-Looking Statements
All statements in this press release that do not relate to historical facts constitute forward-looking statements. These statements represent ERES’s intentions, plans, expectations and beliefs and are subject to certain risks and uncertainties that could result in actual results differing materially from these forward-looking statements. These risks and uncertainties are more fully described in regulatory filings that can be obtained on SEDAR at www.sedar.com.
For further information | |
ERES Mr. Chief Executive Officer 416.354.0167 p.burns@eresreit.com | ERES Mr. Chief Financial Officer 416.861.5771 s.cryer@eresreit.com |
Source:
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