GO RESIDENTIAL REAL ESTATE INVESTMENT TRUST FILES FINAL PROSPECTUS FOR INITIAL PUBLIC OFFERING OF TRUST UNITS

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./

TORONTO, July 24, 2025 /CNW/ - GO Residential Real Estate Investment Trust (the "REIT") announced today that it has filed, and obtained a receipt for, a final long-form prospectus (the "Final Prospectus") for its initial public offering (the "Offering") of trust units of the REIT ("Units") with the securities regulatory authorities in each of the provinces and territories of Canada. The Units will be issued at a price of US$15.00 per Unit (the "Offering Price") for gross proceeds from the Offering of US$410,100,000.

The Offering is being underwritten by a syndicate of underwriters led by CIBC Capital Markets and BMO Capital Markets as joint active bookrunners, and including BofA Securities, acting as passive bookrunner, RBC Capital Markets, National Bank Financial, Scotiabank, Desjardins Capital Markets, Canaccord Genuity Corp., and BTIG, LLC (collectively, the "Underwriters"). The REIT has granted to the Underwriters an over-allotment option (the "Over-Allotment Option"), exercisable in whole or in part at any time for a period of 30 days following the closing of the Offering, to purchase up to an additional 4,101,000 Units at the Offering Price which, if exercised in full, would increase the total gross proceeds of the Offering to US$471,615,000.

The REIT is a newly created, internally managed, open ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. The REIT has been formed to provide investors with an opportunity to invest in luxury high-rise multifamily properties ("LHRs") located in the New York metropolitan area and other major metropolitan cities in the United States. The REIT will initially own and operate a portfolio of five LHRs consisting of 2,015 luxury suites located in the borough of Manhattan, New York (the "Initial Portfolio"). Upon closing of the Offering, the REIT will be led by a team of seasoned industry leaders with diverse experience across the real estate sector in both the United States and Canada.

In connection with the Offering, funds, accounts and/or investment vehicles managed by Cohen & Steers Capital Management, Inc. (collectively, the "Cornerstone Investor") have agreed to purchase 6,000,000 Units on a private placement basis at the Offering Price for gross proceeds of US$90 million to the REIT (the "Cornerstone Private Placement").  The Cornerstone Investor has also been granted the option to acquire up to an additional 900,000 Units at the Offering Price in the event the Over-Allotment Option is exercised (the "Cornerstone Option"). CIBC Capital Markets and BMO Capital Markets are acting as agents on the Cornerstone Private Placement.

The net proceeds of the Offering and the Cornerstone Private Placement, and an amount to be drawn on a revolving credit facility from an affiliate or CIBC, if necessary, will be used by the REIT to fund the acquisition of the Initial Portfolio, including the repayment or partial repayment of debt, the retirement of certain preferred interests and to fund transaction costs associated with the acquisition of the Initial Portfolio and closing of the Offering. The net proceeds of the Over-Allotment Option and Cornerstone Option, if exercised, will be used by the REIT to fund the repayment or partial repayment of debt, capital expenditure activities, future acquisitions and general business purposes.

The REIT initially intends to make its first distribution on September 15, 2025 for the period from closing of the Offering to August 31, 2025 in the amount of US$0.05325 per Unit (assuming that closing occurs on July 31, 2025). The REIT intends to make subsequent monthly distributions in the estimated amount of US$0.05325 per Unit thereafter, reflecting an expected initial annual cash distribution yield of 4.26%.

The Toronto Stock Exchange (the "TSX") has conditionally approved the listing of the Units under the symbol "GO.U". Listing of the Units is subject to the REIT fulfilling all of the requirements of the TSX. The Units are expected to begin trading on the TSX on an if, as and when issued basis, on July 25, 2025.

This Offering is only being made to the public by prospectus. A prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. Investors should read the prospectus before making an investment decision.

The Final Prospectus contains important information relating to the REIT, the Units and the Offering. Copies of the Final Prospectus will be accessible on SEDAR+ at www.sedarplus.com. An electronic or paper copy of the Final Prospectus may be obtained without charge from CIBC World Markets Inc., Attention: Equity Capital Markets, by mail at 161 Bay Street, 5th Floor, Toronto, ON, M5J 2S8, by email at [email protected] or by phone at 416.594.7339; or BMO Nesbitt Burns Inc., by mail at Brampton Distribution Centre c/o The Data Group of Companies, 9195 Torbram Road, Brampton, ON, L6S 6H2, by email at [email protected] or by phone at 1-905-791-3151 Ext 4312.

The Offering is expected to close on July 31, 2025, subject to customary closing conditions and the receipt of all approvals, including regulatory approvals.

No securities regulatory authority has either approved or disapproved the contents of this news release. The Units have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to certain exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Units in the United States.

Forward-Looking Statements

This press release contains statements that include forward-looking information within the meaning of Canadian securities laws. These forward-looking statements reflect the current expectations of the REIT regarding future events, including statements concerning the Offering, the closing of the Offering and the timing thereof, the use of proceeds of the Offering, anticipated distributions, timing and yield thereof and the listing of the Units on the TSX. In some cases, forward-looking statements can be identified by terms such as "may", "will", "could", "occur", "expect", "anticipate", "believe", "intend", "estimate", "target", "project", "predict", "forecast", "continue", or the negative thereof or other similar expressions concerning matters that are not historical facts.

Material factors and assumptions used by management of the REIT to develop the forward-looking information include, but are not limited to, the REIT's current expectations that: the global economy will remain stable over the next 12 months, inflation will remain relatively stable; interest rates will remain relatively stable; tax laws remain unchanged; conditions within the U.S. LHR industry, including competition for acquisitions, will be consistent with the current climate; the REIT's future level of indebtedness and future growth potential will remain consistent with its current expectations; the REIT will be able to refinance its debts as they mature; the Canadian and U.S. capital and financial markets will provide the REIT with access to equity and/or debt at reasonable rates when required; and the current members of management will continue their involvement with the REIT. While management considers these assumptions to be reasonable based on currently available information, they may prove to be incorrect.

Although management believes the expectations reflected in such forward-looking statements are reasonable and represent the REIT's internal expectations and beliefs at this time, such statements involve known and unknown risks and uncertainties and may not prove to be accurate and certain objectives and strategic goals may not be achieved. A variety of factors, many of which are beyond the REIT's control, could cause actual results in future periods to differ materially from current expectations of events or results expressed or implied by such forward-looking statements, such as the risks identified in the final long-form prospectus, including under the heading "Risk Factors" therein. Readers are cautioned against placing undue reliance on forward-looking statements. Except as required by applicable Canadian securities laws, the REIT undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made.

SOURCE GO Residential Real Estate Investment Trust

For further information, please contact: Max Kaufman, Chief Operating Officer, Corporate Secretary and General Counsel, GO Residential Real Estate Investment Trust, [email protected]