ERES Announces Appointment of Jenny Chou as Chief Financial Officer

Toronto, Ontario, CANADA


TORONTO, Aug. 10, 2022 (GLOBE NEWSWIRE) -- European Residential Real Estate Investment Trust (TSX:ERE.UN, “ERES”) and Canadian Apartment Properties Real Estate Investment Trust (TSX: CAR.UN, “CAPREIT”) are pleased to announce the appointment of Ms. Jenny Chou as Chief Financial Officer, replacing Mr. Stephen Co, effective August 11, 2022.

Ms. Chou has been with CAPREIT since 2019, and currently holds the position of Vice President, Finance in which capacity she oversees all aspects of CAPREIT’s financial reporting, valuation, taxation, treasury and financing, including financial oversight of ERES. She started her career at PricewaterhouseCoopers, where she spent 11 years in the audit and assurance practice focusing on public and large private real estate clients. She is a Chartered Professional Accountant (CPA, CA) and holds a Master of Business Administration degree from McMaster University.

Pursuant to an asset management agreement, CAPREIT provides ERES with, among other things, the services of a Chief Financial Officer.

“I want to thank Stephen for his significant contributions to ERES and look forward to working with Jenny in her new role as Chief Financial Officer of ERES”, commented Mr. Phillip Burns, Chief Executive Officer.

About ERES

ERES is an unincorporated, open-ended real estate investment trust. ERES’s Units are listed on the TSX under the symbol ERE.UN. ERES is Canada’s only European-focused, multi-residential REIT, with a current initial focus on investing in high-quality, multi-residential real estate properties in the Netherlands. ERES owns a portfolio of 158 multi-residential properties, comprised of 6,901 suites and ancillary retail space located in the Netherlands, and owns one office property in Germany and one office property in Belgium.

ERES’s registered and principal business office is located at 11 Church Street, Suite 401, Toronto, Ontario M5E 1W1.

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. Accordingly, readers should not place undue reliance on forward-looking statements.

Except as specifically required by applicable Canadian securities law, ERES does not undertake any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

For further information

ERES                                
Mr. Phillip Burns                
Chief Executive Officer                
416.354.0167                        
p.burns@eresreit.com