Changes in ERES Monthly Distribution for January 2025 Announced

Correction on European Residential Real Estate Investment Trust's Distribution

In a recent announcement from the European Residential Real Estate Investment Trust (ERES), an important correction has been made regarding the January 2025 monthly distribution. The estimated payout is adjusted to C$0.00737 per Unit and Class B LP Unit, instead of the previously stated C$0.01474. This modification highlights the exact details for unitholders to help them understand their upcoming distributions more clearly.

Details of the January 2025 Monthly Distribution

The trustees of ERES have confirmed that the January 2025 monthly distribution will be €0.005 per Unit and Class B LP Unit, which translates to an annualized rate of €0.06 per Unit. This distribution amount will be accessible to the registered holders of the Units and Class B LP Units. It is essential for unitholders to be aware that the record date for this distribution is January 31, with payment scheduled for February 18, 2025, ensuring they receive their entitled amounts promptly.

Distribution Mechanics and Options

For this upcoming distribution, the amounts will be converted and paid in Canadian dollars, based on the current exchange rate. Registered unitholders will also have the option to choose receiving their distributions in Euros if they opt for this choice. Those who do not select this option will receive their payments in Canadian dollars in line with the stated exchange rate. It's crucial for unitholders to note that beneficial unitholders will not have the choice of opting for Euro payments.

The Distribution Reinvestment Plan Update

ERES has previously communicated that the Distribution Reinvestment Plan (DRIP) will be discontinued effective January 16, 2025. This means that any of ERES's monthly distributions occurring after this date will not be eligible for reinvestment. Therefore, unitholders must keep this in mind when considering their dividend strategies. The last distribution eligible under the DRIP was for the month of December 2024.

Special Cash Distribution Announcement

The recent communication elaborates on the final monthly cash distribution for December 2024, which amounted to C$0.01474 for each Unit and Class B LP Unit. Additionally, a special cash distribution of C$1.49426 was declared for the same period, which, like the regular distribution, did not qualify for the DRIP.

Future Distribution Plans by ERES

Looking ahead, ERES intends to maintain its commitment to regular monthly distributions to unitholders, contingent upon decisions made by the Board of Trustees. ERES Limited Partnership is set to ensure that corresponding distributions align with the holdings of the Class B LP Units.

About the European Residential Real Estate Investment Trust

European Residential Real Estate Investment Trust (ERES) operates as an open-ended real estate investment trust. With its Units listed on the TSX under the ticker symbol ERE.UN, ERES stands out as Canada's sole European-focused multi-residential REIT. Currently, it boasts a portfolio of high-quality housing properties throughout the Netherlands, approximately 3,000 residential suites, along with ancillary retail and commercial properties in Germany and Belgium. This unique focus on the European market gives ERES a distinctive edge in real estate investments.

Contact Information for Inquiries

ERES maintains its principal business office at 11 Church Street, Suite 401, providing an accessible contact point for current and prospective investors alike. For any questions, Mr. Mark Kenney, the Chief Executive Officer, can be reached at 416.861.9404 or via email at m.kenney@capreit.net. Ms. Jenny Chou, the Chief Financial Officer, is also available at 416.354.0188 or j.chou@capreit.net.

Frequently Asked Questions

What is the January 2025 monthly distribution amount for ERES?

The January 2025 monthly distribution is set at €0.005 per Unit and Class B LP Unit.

Who is eligible to receive the January distribution?

Only registered unitholders on record as of January 31, 2025, will receive the distribution.

Can unitholders choose their distribution currency?

Yes, registered unitholders can opt to receive their distribution in Euros, while beneficial unitholders will receive it solely in Canadian dollars.

What was the last distribution eligible for the DRIP?

The last eligible distribution for the DRIP was the December 2024 distribution.

How can I contact ERES for further inquiries?

You can contact ERES’s CEO, Mr. Mark Kenney, at 416.861.9404 or their CFO, Ms. Jenny Chou, at 416.354.0188 for any questions.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. If any of the material offered here is inaccurate, please contact us for corrections.