TORONTO, July 15, 2019 /CNW/ - European Residential Real
Estate Investment Trust (TSX-V:ERE.UN, "ERES") is pleased to
announce that the trustees of ERES have declared its first monthly
cash distribution in respect of July
2019 of €0.00875 per Unit and Class B LP Unit (the "July
Distribution"), being equivalent to €0.105 per Unit annualized.
The distribution will be payable to holders of the Units and Class
B LP Units (the "Unitholders") of record on July 31, 2019, with payment on August 15, 2019.
The Euro-denominated distribution will be paid in Canadian
dollars based on the exchange rate on the date of payment.
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.
As previously announced, the July Distribution will be the first
monthly distribution declared and paid by ERES, and ERES intends to
continue to make regular monthly distributions, subject to the
discretion of the ERES board of trustees. ERES continues to target
an 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' Units are listed on the TSX Venture Exchange 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 the
Netherlands. ERES owns a portfolio of 88 multi-residential
properties, comprised of 3,859 suites located in the Netherlands, and owns two office
properties in Germany and one
office 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.
Neither TSX Venture Exchange Inc. nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange Inc.) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE European Residential Real Estate Investment Trust