Maplewood International Real Estate Investment Trust announced that, following an extensive marketing process for the proposed sale of its sole investment property in the Netherlands, it has executed a conditional purchase offer on the Property in the amount of EUR 6,910,000 (the purchase offer) from European real estate private equity firm with over EUR 900 million of assets under management and at arm's length to the company (potential purchaser). The purchase offer, which is fully financed and all cash, is principally conditional on the Potential Purchaser's due diligence on the Property, for which the potential purchaser has been granted an exclusivity period of 4 weeks. Subject to the potential purchaser waiving its due diligence condition, the company expects to negotiate and execute a binding purchase and sale agreement with the potential purchaser in due course.

Based on an expected balance of EUR 3,700,000 for the mortgages payable on the property, the company expects that the purchase offer would deliver gross equity proceeds to the REIT, excluding transaction costs, of EUR 3,210,000, representing an estimated leveraged internal rate of return (IRR) on the property of approximately 21% (based on Euros only).