ERES REIT Declares November 2024 Distribution Updates
Highlights of ERES REIT's November 2024 Distribution
European Residential Real Estate Investment Trust (TSX: ERE.UN, “ERES”) has officially declared its monthly cash distribution for November 2024. This announcement is exciting news for Unitholders, reflecting ERES's commitment to providing consistent returns. The declared amount is €0.01 per Unit and Class B LP Unit, translating to an annualized distribution of €0.12 per Unit.
Details of the Distribution
This monthly distribution will benefit the Unitholders who are on the record as of November 29, 2024, with payments scheduled for December 16, 2024. The distribution amount will be converted to Canadian dollars at the prevailing exchange rate, which is currently estimated at C$0.01477 for each Unit and Class B LP Unit. It's noteworthy that registered Unitholders can opt to receive their earnings in Euros instead. Non-registered Unitholders do not have this option.
Encouraging Participation Among Unitholders
To encourage greater engagement among investors, ERES has established a Distribution Reinvestment Plan (DRIP). Through this initiative, registered investors will receive an additional 5% incentive based on their distributions, provided in the form of more Units. This strategy not only enhances potential returns for loyal Unitholders but also strengthens the overall investment in ERES.
Future Distribution Plans
The Board of Trustees is committed to maintaining regular monthly distributions, showcasing ERES's robust management and strategic approach. This commitment reflects ERES's ongoing efforts to ensure that Unitholders receive reliable returns from their investments.
About ERES REIT
ERES is an open-ended real estate investment trust with its Units listed on the TSX under the ticker symbol ERE.UN. It stands out as Canada's sole European-focused multi-residential REIT, prominently featuring a diverse portfolio of high-quality residential assets in the Netherlands. As of September 30, 2024, the REIT manages approximately 6,300 residential suites. Among these, around 3,200 suites are classified as assets held for sale. The portfolio also includes additional retail spaces across the Netherlands and significant commercial properties in both Germany and Belgium, boasting a total fair value nearing €1.6 billion.
Contact Information
ERES operates from its registered and principal business office located at 11 Church Street, Suite 401, Toronto, Ontario M5E 1W1. Should you have inquiries or require further details about the REIT, please feel free to reach out to the following executives:
Company Leadership
Mr. Mark Kenney, Chief Executive Officer - 416.861.9404 - m.kenney@capreit.net
Ms. Jenny Chou, Chief Financial Officer - 416.354.0188 - j.chou@capreit.net
Frequently Asked Questions
What is the amount of the November 2024 distribution from ERES?
ERES has declared a monthly distribution of €0.01 per Unit and Class B LP Unit for November 2024.
When will the distribution be paid to Unitholders?
The distribution will be payable on December 16, 2024, to Unitholders of record on November 29, 2024.
Can Unitholders choose the currency for their distribution?
Yes, registered Unitholders can elect to receive their distribution in Euros; otherwise, they will receive it in Canadian dollars.
Is ERES commitment only for November distributions?
No, ERES intends to maintain regular monthly distributions as determined by its Board of Trustees.
Where is ERES located?
ERES operates from its office at 11 Church Street, Suite 401, Toronto, Ontario M5E 1W1.
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