Timbercreek Launches Global Real Estate Fund

TORONTO, Aug. 9 /CNW/ - Timbercreek Asset Management Ltd. (the "Manager"), on behalf of Timbercreek Global Real Estate Fund (the "Fund"), is pleased to announce the exchange ratios for the securities that were deposited under the exchange offer of the Fund ("the Exchange Option") described in the Fund's final prospectus dated August 5, 2010 providing for the Fund's initial public offering which is scheduled to close on August 26, 2010.

The number of Units issuable in exchange for the securities of an Exchange Eligible Issuer (the "Exchange Ratio") deposited by a prospective purchaser pursuant to the Exchange Option, was determined by dividing the volume weighted average trading price of such securities on the Toronto Stock Exchange (the "TSX") during the five consecutive trading days ending on August 6, 2010 (the "Pricing Period"), as adjusted to reflect distributions declared by any Exchange Eligible Issuer that will not be received by the Fund, by $12.00.

The following table specifies for each of the Eligible Securities that have been deposited prior to the July 22, 2010 deadline: i) the name of the issuer; ii) the trading symbol; iii) the ISIN; iv) the volume weighted average trading price during the Pricing Period as adjusted; and v) the Exchange Ratio.

The Exchange Ratios were rounded to four decimal places.

    
    -------------------------------------------------------------------------

                                                                    Exchange
                                                                    --------
       Exchange Issuer        Symbol      ISIN       5 Day VWAP       Ratio
       ---------------        ------      ----       ----------       -----

    -------------------------------------------------------------------------
    Allied Properties REIT    AP-U    CA0194561027      20.3177       1.6931
    -------------------------------------------------------------------------
    ARC Energy Trust-Units    AET-U   CA0019861081      20.1191       1.6766
    -------------------------------------------------------------------------
    Bell Aliant Regional
     Communications           BA-U    CA07786J1030      25.5744       2.1312
    -------------------------------------------------------------------------
    BoNAVista Energy Trust    BNP-U   CA0985361058      23.5481       1.9623
    -------------------------------------------------------------------------
    Brookfield Properties
     Corp                     BPO     CA1129001055      15.5403       1.2950
    -------------------------------------------------------------------------
    Crescent Point Energy
     Corp                     CPG     CA22576C1014      38.0273       3.1689
    -------------------------------------------------------------------------
    First Capital Realty      FCR     CA31943B1004      14.2173       1.1848
    -------------------------------------------------------------------------
    H&R REIT                  HR-U    CA4044282032      18.0989       1.5082
    -------------------------------------------------------------------------
    Pengrowth Energy Trust    PGF-U   CA7069025095      10.0115       0.8343
    -------------------------------------------------------------------------
    Riocan REIT               REI-U   CA7669101031      20.5156       1.7096
    -------------------------------------------------------------------------
    Superior Plus Corp        SPB     CA86828P1036      12.8063       1.0672
    -------------------------------------------------------------------------
    Trilogy Energy Corp       TET     CA89620H1055      10.3562       0.8630
    -------------------------------------------------------------------------
    Vermilion Energy Trust    VET-U   CA9237281097      33.0031       2.7503
    -------------------------------------------------------------------------
    

A purchaser may rescind its purchase of Units hereunder by a written notice of rescission which must be received by the CDS Participant who effected such deposit on or before midnight on August 17, 2010.

The syndicate of agents is co-led by BMO Nesbitt Burns and Raymond James Ltd., and includes CIBC World Markets Inc., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., Scotia Capital Inc., Manulife Securities Incorporated, HSBC Securities (Canada) Inc., Canaccord Genuity Corp., GMP Securities L.P. and M Partners Inc.

The Fund, an investment fund formed under the laws of the Province of Ontario and which is managed by the Manager, was established to invest in a globally diversified portfolio of premier real estate securities including common equity, preferred shares and debt of both public and private real estate investment trusts and real estate companies in Canada, United States, United Kingdom, Continental Europe, Japan, Australia, Hong Kong and other countries. The Manager has engaged FSX Securities Canada Inc. (the "Global Investment Advisor") to provide portfolio management services to the Fund. Through the Manager's partnership with the Global Investment Advisor, the Fund will be supported by a team of real estate analysts based in Toronto, New York, London and Hong Kong that are strictly dedicated to analyzing and investing in real estate securities.

This offering is only made by a prospectus dated August 5, 2010. The prospectus contains important information relating to these securities. Copies of the prospectus may be obtained from any of the Agents. Investors should read the prospectus before making an investment decision.

All capital terms noted herein but not defined are as per the prospectus dated August 5, 2010.

SOURCE Timbercreek Asset Management Inc.

For further information: For further information: Timbercreek Asset Management Inc., Carrie Morris, Vice-President, Investor Relations & Corporate Governance, 416-306-9967 x250, cmorris@timbercreekfunds.com

Organization Profile

Timbercreek Asset Management Inc.

More on this organization

Timbercreek Global Real Estate Fund

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890