TORONTO, Nov. 28, 2025 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (“ERES” or “the REIT”) (TSX:ERE.UN) announced today that it has entered into agreements to sell three properties containing a total of 322 residential suites in the Netherlands for approximately €67.8 million in combined consideration. All amounts disclosed herein exclude transaction costs and other customary adjustments. Through certain of its subsidiaries, ERES has entered into separate agreements to sell: An unen ...

Core Insights - Ashford Hospitality Trust has entered into binding agreements to divest three hotels, generating estimated gross proceeds of approximately $69.5 million, which will enhance annual cash flow by over $2 million and save $14.5 million in future capital expenditures [1][5][6] Group 1: Hotel Divestitures - The sale of the 226-room Le Pavillon hotel in New Orleans is valued at $42.5 million, approximately $188,000 per room, with a closing date scheduled for next month [2] - The combined sale of the two Embassy Suites by Hilton hotels in Austin and Houston, totaling 300 rooms, is priced at $27 million, equating to $90,000 per room, with completion expected in January 2026 [3] - Adjusting for anticipated capital expenditures, the combined sale reflects a 2.2% capitalization rate on net operating income (NOI) or a multiple of 29.9 times hotel EBITDA for the 12 months ending September 30, 2025 [4] Group 2: Strategic Financial Management - The majority of the proceeds from these sales will be used to retire mortgage debt, improving cash flow after debt service and eliminating significant future capital expenditure obligations [6] - The company emphasizes that strategic asset sales are crucial for deleveraging and enhancing cash flow and liquidity, reflecting the value within its portfolio [5]

Core Viewpoint - Ashford Hospitality Trust has signed definitive agreements to sell three hotels, expecting to generate approximately $69.5 million in gross proceeds, which will enhance cash flow and reduce future capital expenditures [1][2]. Group 1: Sale Details - The sale of Le Pavillon, a 226-room hotel in New Orleans, is priced at $42.5 million, equating to $188,000 per key, with a capitalization rate of 2.6% based on net operating income [3]. - The Embassy Suites by Hilton Austin Arboretum and Embassy Suites by Hilton Houston Near the Galleria, totaling 300 rooms, are being sold for $27.0 million, or $90,000 per key, with expected completion in January 2026 [4]. - Adjusted for anticipated capital expenditures of $14.5 million, the combined sale price represents a 2.2% capitalization rate on net operating income [5]. Group 2: Financial Impact - The company anticipates more than $2 million in annual cash flow improvement and $14.5 million in future capital expenditure savings following the sales [1][2]. - The majority of the proceeds from the sales will be used to retire mortgage debt, thereby improving cash flow after debt service and eliminating significant future capital expenditure obligations [2]. Group 3: Company Overview - Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels [6].