European Residential REIT acquires two residential portfolios in the Netherlands

European Residential REIT has acquired a  multifamily residential portfolio in the Netherlands for approximately €164 million ($180 million), representing approximately €227 million ($250 million) of aggregate acquisitions when combined with an approximately €63 million ($70 million) Netherlands multi-residential portfolio acquisition.

The Eagle Portfolio is being purchased from Canadian Apartment Properties REIT.

The portfolio consist of 942 residential units in 18 properties located in seven urban centers in the Netherlands. The Eagle Portfolio is 97 percent occupied.

Approximately 37 percent of the Eagle Portfolio's suites are considered liberalized, such that they are not subject to Dutch rent control regulations. Of the suites that are not liberalized, ERES believes the majority can be liberalized upon tenant turnover, which should provide considerable potential upside benefit, supporting ERES' rent maximization strategy.  Upon liberalization, su