European Residential REIT is an unincorporated, open-ended real estate investment trust focused on aggregating a portfolio of high quality, multi-residential real estate assets in key European markets with strong fundamentals. ERES REIT has an initial primary focus on the Netherlands. ERES’s strategy is designed primarily to deliver long-term, secure income with the additional potential for capital appreciation. Consistent with its strategy, ERES intends to grow by acquiring additional assets which are expected to be accretive on a per Unit basis. ERES’s Units are listed on the TSX-V under the symbol ERE.UN.
- Initially formed as a Capital Pool Company, ECREIT (now ERES REIT) completed its Qualifying Transaction on January 31, 2017. In this transaction, it acquired a €11.0 million, multi-tenant office property in Düsseldorf, Germany and raised approximately CAD $8.1 million via private placement.
- ECREIT raised approximately CAD $30.7 million in May 2017 – the net proceeds of which were used to partially finance the acquisition of a property in Landshut, Germany (greater Munich area) for €30.2 million.
- In connection with the Landshut acquisition and capital raise, ECREIT converted into a real estate investment trust (“REIT”) and consolidated the outstanding common shares on a 31.25 to 1 basis.
- ECREIT raised approximately CAD $35.0 million in July 2017 – the net proceeds of which were used partially to finance the acquisition of a property in Brussels, Belgium for €40.7 million.
- In March 2019, ECREIT became ERES REIT and completed a CAD $634 million acquisition of 2,091 multi-residential assets in the Netherlands, marking a dynamic transformation providing immediate scale and shifting its strategic focus to European multi-residential assets.
CAD $820 MILLION GROSS
N/A per Unit annual
98.5 million Units