TORONTO, Feb. 17, 2012 /CNW/ - Timbercreek Asset Management
("Timbercreek" or "the Company"), is pleased to announce that it has
expanded outside Canada and opened a new office in Zurich, Switzerland
to support its growing global real estate investment platform. The
Toronto-based Company, which manages approximately $2 billion in assets
through its private and publicly-traded real estate-focused funds,
already has a comprehensive network of offices across Canada.
"Our expansion into Europe is part of our commitment to building out a
global investment platform with local resources who will source,
underwrite and actively manage our real estate investments around the
world," explained Blair Tamblyn, Chief Executive Officer of
Timbercreek. "We see the potential to open other offices in major
global centres in the future."
Timbercreek currently provides investors with access to global real
estate investment opportunities through the Company's public
Timbercreek Global Real Estate Fund (TSX: TGF.UN) and Timbercreek Four
Quadrant Fund LP, a private investment vehicle for accredited investors
(together, "the Funds"). The Funds seek to invest in high-quality,
income-producing real estate around the world, and they do so through
the investment vehicle most efficient to maximize income. Investments
can therefore include direct real estate, mortgage debt, publicly
traded securities (equity or debt), and private equity.
"The Funds provide individual investors with the variety of investment
vehicles that have traditionally only been available to insititutional
investors," said Corrado Russo, Managing Director, Timbercreek Global
Real Estate Securities and Manager of the Funds. "This enables us to
optimize returns by combining the inflation hedged benefits of real
estate equity with the stable, consistent yield generated from real
estate debt. We can also minimize volatility while maintaining adequate
Timbercreek's European office will assist the Company in sourcing
investment opportunities in Europe and Asia for both the Funds and
other Timbercreek investment strategies.The new office will be managed
by Claudia Reich Floyd, who will also oversee analysts in Europe and
Australia. Ms Reich Floyd has extensive experience in securities
investments. She most recently served as Partner and Portfolio Manager
with 4IP Management Ltd., which was formerly the real estate investment
division of Sal Openheim, Switzerland. Previously, Ms Reich Floyd
worked as a Portfolio Manager on the Global Real Estate Securities team
at Citigroup Property Investors ("Citigroup").
"We are thrilled to have Claudia and her team join our platform," said
Mr. Russo. "Claudia's experience sourcing and underwriting real estate
investment opportunities will be a valuable asset to Timbercreek as we
continue to seek inefficiencies in the global real estate market that
could present investment opportunities for our Funds."
Ms. Reich will report to Mr. Russo. Combined, they collectively have
over 25 years of investment experience including managing institutional
global listed real estate securities mandates together at Citigroup
from 2004 to 2008.
SOURCE Timbercreek Asset Management Inc.
For further information:
Timbercreek Asset Management Ltd.
Vice President, Investor Relations