European Residential REIT Receives Conditional Approval for TSX Listing

TORONTO, May 28, 2020 /CNW/ - European Residential Real Estate Investment Trust ("ERES" or the "REIT") (TSX-V: ERE.UN) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the "TSX") to graduate from the TSX Venture Exchange ("TSX-V") and list its trust units (the "Units") on the TSX.

Final approval of the TSX listing is subject to the REIT fulfilling certain conditions required by the TSX.  The REIT expects to satisfy all of the remaining conditions and will issue a statement once the TSX confirms the date on which trading on the TSX will commence. The Units are expected to be listed and commence trading on the TSX in July 2020.

Upon satisfaction of the remaining conditions, the Units will be delisted from the TSX-V and commence trading on the TSX.  The Units will continue to trade under the stock symbol "ERE.UN".

"I'd like to thank all of our employees, investors and partners for supporting ERES's continued maturation since inception, including accomplishment of this significant milestone," commented Phillip Burns, Chief Executive Officer.  "We believe that this TSX listing will further increase ERES's trading liquidity and will open a wider and deeper investor base in Canada and abroad."

About European Residential Real Estate Investment Trust
ERES is an unincorporated, open-ended real estate investment trust. ERES's REIT Units are listed on the TSX Venture Exchange 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 131 multi-residential properties, comprised of 5,632 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.

Certain statements contained in this press release constitute forward-looking statements within the meaning of applicable Canadian securities laws which reflect ERES's current expectations and projections about future results, including the fulfillment and satisfaction of the remaining conditions to listing the Units on the TSX and the anticipated date for the listing of the Units on the TSX. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond ERES's control, that could cause actual results and events to differ materially from those that are described or implied by such forward-looking statements. These risks and uncertainties are more fully described in regulatory filings, including ERES's Annual Information Form, which can be obtained on SEDAR at www.sedar.com, under ERES's profile, as well as under Risks and Uncertainties section of the MD&A released on May 11, 2020. The forward-looking statements made in this press release relate only to events or information as of the date on which the statements are made in this press release. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this press release. Any number of factors could cause actual results to differ materially from these forward-looking statements as well as future results. Although ERES believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Such forward-looking statements are based on a number of assumptions that may prove to be incorrect. 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. These forward-looking statements should not be relied upon as representing ERES's views as of any date subsequent to the date of this press release.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

SOURCE European Residential Real Estate Investment Trust

Phillip Burns, Chief Executive Officer, Email: [email protected]; Scott Cryer, Chief Financial Officer, Email: [email protected]