The Düsseldorf Property consists of approximately 5,436 square metres of gross leasable area and currently has eight units, of which 100% are occupied upon closing of the sale. A disposition fee of approximately €169,000 has been incurred in connection to the sale, representing 1.0% of total gross proceeds pursuant to the REIT’s amended asset management agreement.
“As we evolve in pursuit of our multi-residential growth strategy, we continue to make strategic alignments and capitalize on opportunities that enhance the value of ERES,” commented
About ERES
ERES is an unincorporated, open-ended real estate investment trust. ERES’s Units are listed on the
ERES’s registered and principal business office is located at
For more information, please visit our website at www.eresreit.com.
Cautionary Statements Regarding Forward-Looking Statements
All statements in this press release that do not relate to historical facts constitute forward-looking statements. These statements represent ERES’s intentions, plans, expectations and beliefs and are subject to certain risks and uncertainties that could result in actual results differing materially from these forward-looking statements. These risks and uncertainties are more fully described in regulatory filings that can be obtained on SEDAR at www.sedar.com.
For further information
ERES
Mr. Phillip Burns
Chief Executive Officer
416.354.0167
p.burns@eresreit.com
ERES
Mr.
Chief Financial Officer
416.861.5771
s.cryer@eresreit.com
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