JOSHUA GOTLIB AND MEYER ORBACH CONFIRM EFFECTIVE INTEREST IN GO RESIDENTIAL REAL ESTATE INVESTMENT TRUST FOLLOWING CLOSING OF INITIAL PUBLIC OFFERING

NEW YORK, Aug. 1, 2025 /CNW/ - Joshua Gotlib ("Mr. Gotlib") and Meyer Orbach ("Mr. Orbach", together with Mr. Gotlib, the "Acquirors") confirmed today that, in connection with the initial public offering (the "Offering") of trust units ("Units") of GO Residential Real Estate Investment Trust (the "REIT") and the indirect acquisition (the "Acquisition") by the REIT of a portfolio of five luxury high-rise multifamily properties, consisting of a total of 2,015 luxury suites (each, an "Initial Property" and collectively, the "Initial Properties") located in the borough of Manhattan, New York (the "Initial Portfolio"), they acquired beneficial ownership of, or control or direction over Board Voting Units ("Board Voting Units") of the REIT and common units ("OpCo Units") of GO Residential Operating LLC ("OpCo").

The Acquirors acquired OpCo Units as partial consideration for the Acquisition of the Initial Portfolio by the REIT. The OpCo Units are, in all material respects, economically equivalent to Units and are redeemable by the holder thereof for cash equal to the market price of one Unit or, at the election of the REIT, for one Unit (subject to customary anti-dilution adjustments). The Acquirors also subscribed for Board Voting Units which have no economic entitlement in the REIT or in the distributions of the REIT (apart from their redemption value, which is equal to the subscription price for such Board Voting Units) but entitle the holder to one vote per Board Voting Unit with respect to the election of trustees at any meeting of the unitholders of the REIT.

In connection with the Offering and the Acquisition, each OpCo Unit was valued at US$15.00 per unit on the closing of the Offering (or C$20.72 per unit based on the daily average exchange posted by the Bank of Canada on July 30, 2025, being US$1.00 equals C$1.3811). The Board Voting Units were issued to each of the Acquirors for US$800,000 each at the closing of the Offering. On a per Board Voting Unit basis, the consideration paid by the Acquirors was approximately US$0.07 per Board Voting Unit (or C$0.10 per unit based on the daily average exchange posted by the Bank of Canada on July 30, 2025, being US$1.00 equals C$1.3811).

Immediately prior to the closing of the Offering and the completion of the Acquisition, Mr. Gotlib and Mr. Orbach did not have beneficial ownership of, or control or direction over any Board Voting Units or OpCo Units.

Following the closing of the Offering and the completion of the Acquisition, each of the Acquirors beneficially owns or exercises control or direction over 11,032,933.5 Board Voting Units. The Board Voting Units held by each of the Acquirors represent approximately (i) 50% of the issued and outstanding Board Voting Units, and (ii)19.9% of the available votes with respect to the election of trustees of the REIT at any meeting of holders of Units.

Mr. Gotlib beneficially owns indirectly or exercises control or direction over 5,053,994 OpCo Units, representing an aggregate approximate 9.11% effective equity interest in the REIT, or an aggregate approximate 8.36% ownership interest in the REIT if the Over-Allotment Option (as defined in the REIT's final long form prospectus dated July 24, 2025 (the "Prospectus")) and Cornerstone Option (as defined in the Prospectus) are exercised in full (determined as if all OpCo Units held by Mr. Gotlib are redeemed for Units).

Mr. Orbach beneficially owns, directly or indirectly, or exercises control or direction over 5,725,980 OpCo Units, representing an aggregate approximate 10.32% effective equity interest in the REIT or an aggregate approximate 9.47% ownership interest in the REIT if the Over-Allotment Option and Cornerstone Option are exercised in full (determined as if all OpCo Units held by Mr. Orbach are redeemed for Units).

Further details regarding the securities held by the Acquirors are set forth in the Prospectus under the heading "Retained Interest Holders".

The OpCo Units held by the Acquirors are being held for investment purposes and the Acquirors may, depending on market and other conditions, increase or decrease their beneficial ownership or control of OpCo Units whether through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. The Acquirors have agreed that any OpCo Units owned by the Acquirors on completion of the Acquisition will be subject to a hold period of 24 months following the closing of the Offering, subject to certain exceptions.

The Board Voting Units held by the Acquirors are held for purposes of granting Mr. Gotlib and Mr. Orbach a vote on elections for trustees.

This press release is being issued pursuant to the requirements of National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues of the Canadian Securities Administrators. A copy of the reports to be filed by Mr. Gotlib and Mr. Orbach in connection with the transactions described herein will be available under the REIT's issuer profile on SEDAR+ at www.sedarplus.com.

The head office of the REIT and the address of Mr. Gotlib and Mr. Orbach is 80 Fifth Avenue, Suite 201, New York, New York, 10011, United States of America.

For further information, or to obtain a copy of the Early Warning Report filed under applicable securities laws, please contact:

Max Kaufman, Chief Operating Officer, Corporate Secretary and General Counsel
[email protected]
516-776-4666

SOURCE Joshua Gotlib and Meyer Orbach