TORONTO, March 9, 2012 /CNW/ - Timbercreek Asset Management ("Timbercreek" or "the Company") is pleased to announce the expansion of its global real estate investment platform with the opening of a new office in New York City. The Toronto-based Company, which manages approximately $2 billion in assets through its private and publicly-traded real estate-focused funds, announced last month the initiation of its international expansion with a new office in Zurich, Switzerland, supported by analysis in Melbourne, Australia. Timbercreek already has a comprehensive network of offices across Canada.
"Our expansion provides us with a comprehensive team of local resources covering Canada, the U.S., Europe, and Australia that will source, underwrite and actively manage our real estate investments" explained Blair Tamblyn, Chief Executive Officer of Timbercreek. "We will leverage this international expertise not only to support our public and private global real estate funds and investment strategies but also to enable us to evaluate opportunities outside of Canada that are consistent with our two other investment platforms - direct real estate ownership and management, and customized mortgage lending."
Heading Timbercreek's New York City office will be Sam Sahn, previously Executive Director and Global Portfolio Manager with Forum Securities Ltd. Mr. Sahn will report to Corrado Russo, Managing Director, Global Head - Real Estate Securities.
Mr. Russo and Mr. Sahn worked together previously at both Forum Securities Ltd., where Mr. Russo was an Executive Director and Portfolio Manager of global real estate securities before joining Timbercreek in 2011, and at Citi Property Investors ("Citi"), which was the real estate investment management group of Citigroup Inc.
Timbercreek's new European office is managed by Claudia Reich Floyd, who also worked alongside Mr. Sahn and Mr. Russo as a Portfolio Manager on Citi's Global Real Estate Securities team. Together, the three have more than 30 years of investment experience, particularly in managing global real estate securities mandates.
"I'm extremely pleased to have reunited a great team," said Mr. Russo. "Our experience and geographical breadth will enable us to identify inefficiencies in the global real estate market that could present investment opportunities, and capitalize on them for the benefit of our individual and institutional investors."
Timbercreek currently provides investors with access to global real estate investment opportunities through its public Timbercreek Global Real Estate Fund (TSX: TGF.UN) and Timbercreek Four Quadrant Fund LP, a private investment vehicle available to institutional and accredited investors (together, "the Funds"). The Funds seek to identify high-quality, income-producing real estate around the world, and then invest in the most efficient manner possible to maximize income. Investments can therefore include publicly traded securities (equity or debt), private equity and mortgage debt, .
Timbercreek Asset Management is an alternative investment management business that employs a conservative and risk-averse approach to real estate-based investments. Founded in 1999, Timbercreek currently manages approximately $2 billion in assets through its various private and public vehicles invested in direct real estate (primarily multi-residential), mortgage debt and real estate securities.