ERES Enters Into Agreement to Sell 88-Suite Property for euros21 Million

Executive Summary

• ERES entered into a definitive agreement to sell an unencumbered 88‑suite residential property in Schiedam, Netherlands for approximately €20.6 million (excluding transaction costs).
• Closing is expected in March 2026, subject to customary conditions; net proceeds will be used for general trust purposes.
• The sale is part of a broader strategy to dispose of individual assets ahead of a potential final en‑bloc transaction, leaving roughly 600 suites remaining for sale.

Key Details

• Transaction: Sale of an 88‑suite property in Schiedam, Netherlands.
• Purchase Price: Approximately €20.6 million (excluding transaction costs and customary adjustments).
• Closing Timeline: Anticipated completion in March 2026, subject to satisfaction of closing conditions.
• Use of Proceeds: Net proceeds will be applied to general trust purposes.
• Strategic Context: Fourth single‑property disposition announced; after completing all four, ERES will retain about 600 suites (~€? million fair value) for potential integrated portfolio sale in the Netherlands.
• Current Portfolio (as of Sep 30 2025): 1,033 residential suites and ancillary retail space with a total fair value of approximately €311.7 million.

Notable Quotes

“As a follow on to our last update, we’ve been pursuing a series of select individual asset sales that will best position our remaining portfolio for a potential final en‑bloc transaction,” – Mark Kenney, Chief Executive Officer
“To wrap up this phase of the sale process, we’ve now signed one additional deal to strategically dispose of the Schiedam property at a compelling price.” – Mark Kenney, Chief Executive Officer