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 liquidity."
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.
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