Q: Hello 5i Team

I currently own European Residential REIT (ERE-UN), however I wish to sell it before year end with the uncertainty of what will happen after the special distribution and reduction in dividend (i.e. to many moving parts).

I want to replace it with either of the TSX listed US dollar REITS

BSR REIT - HOM-UN
Dream Residential - DRR-UN -UN,
Flagship Communities - MHC-UN

or add to my existing holdings of Inter Rent (IIP-UN)

1 - What would 5i suggest and if the US dollar REIT, please rank in order of preference?

2 - If I go with the TSX USD reits should I buy them in Canadian Dollar or US dollar (as they trade in both currencies on the TSX)? I am thinking I should go with Canadian Dollar as it will make the annual ACB calculations easier (my reits are held in a taxable account).

Thanks

Q: Hello 5i Team,
ERE.UN had a news report out today big disposition today; what are your thoughts on this REIT? I believe CAPREIT owns 65%?
Thanks
Brent

Q: ERE today announced the sale of over 1 Billion in housing and commercial units. In addition a 41.13 special dividend and a 50% reduction in the dividend. I realize this will significantly improve the balance sheets, yet the company is small and will become much smaller. The stock price is up by 23c today. Is the stock worth keeping or should I sell it now. Will the share price gradually climb as it gets closer to the special dividend? What do you think of this sale?.