European Residential Real Estate Investment Trust Announces Strategic Review

TORONTO, June 16, 2023 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (TSX: ERE.UN) (“ERES”) announced that it is working with CBRE, as financial and real estate advisor, to advise it in connection with a strategic review of ERES.

ERES has not established a definitive timeline to complete the strategic review or any transaction and no decisions have been reached at this time. There can be no assurance that the engagement of CBRE or the strategic review will result in any transaction or initiative or, if a transaction or initiative is undertaken, as to the terms or timing of such a transaction or initiative. ERES does not currently intend to disclose further developments in connection with or arising from the engagement of CBRE, the strategic review or in connection with any transaction, initiative or related matter, unless and until it is determined that disclosure is necessary or appropriate.

Forward-Looking Information

Certain statements contained in this press release, including statements with respect to the strategic review or potential transaction opportunities or initiatives, constitute forward-looking statements within the meaning of applicable Canadian securities laws which reflect ERES’s current expectations and projections about future results. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intent”, “estimate”, “anticipate”, “believe”, “consider”, “should”, “plans”, “predict”, “estimate”, “forward”, “potential”, “could”, “likely”, “approximately”, “scheduled”, “forecast”, “variation” or “continue”, or similar expressions suggesting future outcomes or events. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Any number of factors could cause actual results to differ materially from these forward-looking statements. Although ERES believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Such forward-looking statements are based on a number of assumptions that may prove to be incorrect. Accordingly, readers should not place undue reliance on forward-looking statements.

Except as specifically required by applicable Canadian securities law, ERES does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. These forward-looking statements should not be relied upon as representing ERES’s views as of any date subsequent to the date of this press release.

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 the Netherlands. As at March 31, 2023, ERES owns a portfolio of 158 multi-residential properties, comprised of approximately 6,900 suites and ancillary retail space located in the Netherlands, and owns one office property 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.

For further information:

ERES Mr. Mark Kenney Chief Executive Officer 416.861.9404 [e-mail]

ERES Ms. Jenny Chou Chief Financial Officer 416.354.0188 [e-mail]