ERES REIT Announces Acquisition Of €26.25MM Multi-Residential 5-Property Portfolio

TORONTO, Sept. 18, 2020 (GLOBE NEWSWIRE) — European Residential Real Estate Investment Trust (TSX:ERE.UN, “ERES” or the “REIT”) announced today that it has entered into an agreement to acquire a multi-residential portfolio of five properties located in the Netherlands (the “Kairos Portfolio”). The Kairos Portfolio is comprised of 113 residential suites and 98 parking units across the five properties, which each are 100% owned and currently 99.1% occupied. Approximately 87% of the residential suites are liberalized with a net average monthly rent of €912 per suite.