European Residential Real Estate Investment Trust

Good morning all and thank you for joining us on today's European Residential REIT third quarter 2025 results conference call. My name is Drew and I'll be the operator on the call today. After today's prepared remarks we will hold a Q&A session. If you wish to register a question please press star followed by one on your telephone keypad and to withdraw your question it's star followed by two. With that it's my pleasure to hand over to Nicole Dolan Investor Relations to begin. Please go ahead when you're ready.

Thank you, operator, and good morning, everyone. Before we begin, let me remind everyone that during our conference call this morning, we may include forward-looking statements about expected future events and the financial and operating results of eREZ, which are subject to certain risks and uncertainties. We direct your attention to slide two and our other regulatory filings for important information about these statements. I will now turn the call over to Mark Kenney, Chief Executive Officer.

Thanks, Nicole. Good morning, everyone. Joining me this morning is Jenny Chow, our Chief Financial Officer. Let's get started on slide four with a high-level update. During Q3, eRES continued to execute on its strategic disposition program, focusing on maximizing unit holder value. We successfully completed several key transactions, including the sale of our commercial properties in Belgium and Germany, the closing of previously announced disposition of a portfolio containing 1,446 residential suites in the Netherlands, and the sale of an additional 110 suite property in Rotterdam. Collectively, these transactions generated €397 million in gross consideration, bringing our 2,025 disposition total to €489 million, with part of that capital used to repay €238 million in debt. With remaining proceeds, cleared and paid a special cash distribution of €0.90 per unit, in line with our commitment to return capital to unit holders. Operationally, rent growth remained robust with same property occupied AMR increasing by 4.7% to €1,349 at current period end. However, you will see on slide five, our residential occupancy was down to 90.8% as of September 30th, 2025 on the total and same property portfolio. This reflects elevated vacancies associated with our disposition strategy as we are intentionally keeping additional suites offline each month in order to maximize sale value. With that introduction, I will now turn the call over to Jenny to highlight our financial results.