Timbercreek acquires asset in 'Yonge and Eglinton', Toronto, Ontario

    TORONTO, June 12 /CNW/ - Timbercreek Asset Management Inc. ("TAMI") is
pleased to announce that, on behalf of Timbercreek Opportunity Fund No.2 (the
"Fund"), it has completed the acquisition of 204 units in the 'Yonge and
Eglinton" area of Toronto, Ontario for a total consideration of $22.5 million
(the "Acquisition"). The Acquisition brings the total portfolio of
multi-residential real estate managed by TAMI to approximately 7,000 units.
    The Fund is an institutionally funded limited partnership focused on
creating value from distressed multi-residential assets in Canada. As the
Fund's General Partner, TAMI is mandated to source assets, the values of which
have been impaired by prior mismanagement, economic dislocation and other
market inefficiencies and subsequently, through its active management
approach, reposition and enhance these assets in order to maximize IRRs and
the return of partner capital.

    Timbercreek Asset Management Inc. ("TAMI") is one of Canada's fastest
growing alternative asset class investment managers. TAMI has a value oriented
investment philosophy with an active management style, and specializes in
providing conservatively managed, risk adverse investment opportunities to
institutions, trusts and endowment funds, discretionary investment advisors
and qualified individuals. TAMI currently manages approximately $830 million
in assets through its four active funds, predominately focused in the real
estate sector. TAMI believes that attractive investment returns are achieved
by directly controlling the management of investments and has therefore
established a full service property management platform to internally manage
all direct real estate investments made through its funds.

For further information:

For further information: Timbercreek Asset Management Inc., Carrie
Morris, Director, Investor Relations, (416) 306-9967 x250,

Organization Profile

Timbercreek Asset Management Inc.

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