ERES Unitholders Approve Acquisition by CAPREIT

Key Facts

1European Residential REIT unitholders approved the arrangement for CAPREIT to acquire all outstanding units for $1.19 per unit in cash.

2The closing of the arrangement is expected to occur on or around May 1, 2026, subject to court approval and customary conditions.

Unitholders of European Residential REIT (ERES) have officially voted in favor of the acquisition arrangement by Canadian Apartment Properties REIT (CAPREIT). Under the terms of the agreement, CAPREIT will acquire all outstanding units for a cash consideration of $1.19 per unit. This acquisition is part of a strategic plan to take the REIT private or consolidate its operations under CAPREIT ownership. The transaction is expected to close on or around May 1, 2026, pending final court approval and the fulfillment of customary closing conditions. The deal provides a definitive cash exit for unitholders at a fixed price, offering high certainty following the successful vote. This milestone marks a significant step in the consolidation of the residential real estate investment trust sector.