Timbercreek Global Real Estate Fund Announces New Issue

TORONTO, Feb. 7 /CNW/ - Timbercreek Global Real Estate Fund (the "Fund") announces that it has filed a preliminary prospectus dated February 4, 2011 with Canadian securities regulatory authorities in each of the provinces of Canada. The preliminary prospectus qualifies the distribution (the "Offering") of class A units ("Class A Units") and class B units ("Class B Units") of the Fund (collectively the "Units"). A syndicate of agents co-led by Raymond James and BMO Capital Markets and including CIBC, GMP Securities L.P., HSBC Securities (Canada) Inc., Manulife Securities Incorporated, Scotia Capital Inc., National Bank Financial Inc., Canaccord Genuity Corp., Macquarie Capital Markets Canada Ltd. and M Partners Inc. will the market of the Offering. This is the first new issue since the initial public offering that was completed on August 26, 2010 for gross proceeds of approximately $64.5 million, including approximately $2.9 million in gross proceeds generated pursuant to the exercise by the Agents of the Over-Allotment Option. 

The Fund, which is managed by Timbercreek Asset Management Ltd. (the "Manager"), was established to invest in a globally diversified portfolio (the "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 "Advisor") to provide portfolio management services to the Fund. Through the Manager's partnership with the 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. 

The Fund's investment objectives are to provide holders of Units ("Unitholders") with quarterly distributions currently targeted to be $0.21 per Unit ($0.84 per annum) until March 2012; and preserve capital while providing the opportunity for long-term capital appreciation for Unitholders. 

The Manager, a wholly owned subsidiary of Timbercreek Asset Management Inc. ("Timbercreek"), is an investment management company that employs a conservative and risk-averse approach to real estate-based investments. The Manager and its affiliates currently manage approximately $1.4 billion in real estate-related assets, including direct ownership and mortgages. 

The Advisor is a wholly-owned subsidiary of Forum Securities Limited ("Forum Securities"), which is an affiliate of Forum Partners Investment Management LLC ("Forum Partners").  Forum Securities provides a platform for investment in global public real estate securities with over $900 million in assets under management. Since inception, Forum Securities has demonstrated the ability to continually beat its benchmark while employing similar investment strategies to the Fund. On June 30, 2009, the Global Real Estate Securities team at Citi joined Forum Partners and created Forum Securities. 

Forum Partners provides real estate related private equity investment opportunities for large institutional clients on a global basis with over $2 billion currently under management. Forum Partners and Forum Securities have 70 employees in eight offices across Asia, Europe and North America with 13 employees dedicated to global real estate securities analysis.

A preliminary prospectus containing important information relating to these securities has been filed with the securities commission or other authorities in certain jurisdictions of Canada.  The preliminary prospectus with respect to the Offering remains subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any one of the agents listed above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the Fund in the United States 

SOURCE Timbercreek Global Real Estate Fund

For further information:

Timbercreek Asset Management Ltd.
Carrie Morris
416-306-9967 x250

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Timbercreek Global Real Estate Fund

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