ERES Enters Into Agreement to Sell 88-Suite Property for €21 Million

Core Viewpoint - European Residential Real Estate Investment Trust (ERES) has announced the sale of an 88-suite property in Schiedam, Netherlands, for approximately €20.6 million, with completion expected in March 2026, pending closing conditions [1][2]. Company Overview - ERES is an unincorporated, open-ended real estate investment trust listed on the TSX under the symbol ERE.UN, focusing on multi-residential properties in Europe, particularly the Netherlands [3]. - As of September 30, 2025, ERES owned 1,033 residential suites and ancillary retail space in the Netherlands, with a total fair value of approximately €311.7 million [3]. Recent Developments - The CEO of ERES, Mark Kenney, indicated that the sale of the Schiedam property is part of a strategy to optimize the remaining portfolio for a potential final en-bloc transaction, with around 600 suites left for sale after this deal [2].