Company Name: European Residential REIT

European Residential REIT (TSX: ERE.UN) Record 2020 Results Prompt an Increase in Distributions

Since our initiating report, ERES acquired multi-residential properties totalling €35M in the Netherlands. Suites under management increased to 6,047 by the end of 2020, up 7% YoY. ERES expects to continue to grow through acquisitions in the Netherlands. We estimate the company has access to €240M in funds for acquisitions. Rent collections through the pandemic have been in line with historical averages. Rents grew 3.7% in 2020. Management expects the portfolio average rent to grow 3%-4% in 2021.

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European Residential REIT (TSX: ERE.UN) A Unique Opportunity to Own European Rental Properties – Initiating Coverage

European Residential Real Estate Investment Trust (“ERES”, “company”) provides exposure to rental markets in Europe, with a focus on the Netherlands, one of the most attractive regions in Europe. The country is one of the top performing economies in the European Union, with above average per capita income, below average unemployment rate, and one of the strongest export economies.

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