{"id":5964,"date":"2025-06-03T15:03:53","date_gmt":"2025-06-03T13:03:53","guid":{"rendered":"https:\/\/www.realestate.it\/sun-residential-reit-unitholders-approve-property-sale-and-wind-up\/"},"modified":"2025-06-03T15:16:30","modified_gmt":"2025-06-03T13:16:30","slug":"sun-residential-reit-unitholders-approve-property-sale-and-wind-up","status":"publish","type":"post","link":"https:\/\/www.realestate.it\/en\/sun-residential-reit-unitholders-approve-property-sale-and-wind-up\/","title":{"rendered":"Sun Residential REIT Unitholders Approve Property Sale and Wind-Up"},"content":{"rendered":"\n

Toronto, May 28, 2025<\/strong> \u2013 Unitholders of Sun Residential Real Estate Investment Trust<\/em> (TSXV: SRES) have overwhelmingly approved the sale of its remaining properties and the subsequent wind-up and termination of the trust.<\/p>\n\n

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At the annual and special meeting, unitholders passed two key resolutions. The first concerned the sale of Sun\u2019s 51% interest in Evergreen at Southwood<\/em>, a Class A multi-family property with 288 rental units in Tallahassee, Florida, and the 4815 Tudor Drive<\/em>, an 8-unit residential complex in Cape Coral, Florida. This resolution passed with 99.94% of votes in favor, excluding those of parties directly involved in the transactions. <\/p>\n\n

The second resolution approved the formal wind-up and termination of the REIT, also with 99.94% support. Additionally, all five current trustees were re-elected, and PricewaterhouseCoopers LLP was reappointed as auditor. <\/p>\n\n

The closing of both sales is expected no earlier than May 30, 2025. Net proceeds will be distributed to unitholders in two stages: first, more than 90% of the proceeds will be returned, followed by a residual final distribution before the trust is formally dissolved. <\/p>\n\n

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