European Residential REIT T.ERE.UN

The Driver

[DanielDarden]

Of the bus here is undoubtedly CAR as it is the property manager and the majority holder of ERE. Any sale would have to include adequate compensation for the loss of management fees and a sufficient cap rate on the titled properties. In the current environment that would be difficult to attain. Consequently, I would guess that CAR would offer their Units in exchange and continue to manage along with those still held in their portfolio. It has managed long term and well in Canada and probably will grow internationally. A distribution boost may be necessary to appease ERE holders.