Toronto Stock Exchange: TGF.UN
TORONTO, April 18, 2012 /CNW/ - Timbercreek Global Real Estate Fund (the "Fund") is pleased to announce that its board of directors has declared an advanced distribution (the "Advanced Distribution") of $0.07 per class A unit (the "Class A Units") and class B unit (the "Class B Units") of the Fund to be paid on May 15, 2012 to holders of Class A Units and Class B Units of record on April 27, 2012. The Advanced Distribution is equivalent to one-third of the quarterly distribution per Class A Unit and Class B Unit respectively. An additional second quarter distribution will be paid on July 13, 2012 to Unitholders of record on June 30, 2012 of $0.14 per Class A Unit and Class B Unit. The Advanced Distribution has been declared in light of the proposed offering of Class A Units and Class B Units, and pursuant to an amended and restated preliminary prospectus dated April 12, 2012 (the "Offering"). The Offering is intended to close prior to the next quarterly record date, June 30, 2012, and the Advanced Distribution is intended to minimize any dilution to the Fund resulting from the issuance of additional Class A Units and Class B Units. Details of the Advanced Distribution are also included in the preliminary prospectus.
About the Fund
The Fund invests in a diversified portfolio of prime real estate asset securities including common equity, preferred shares and debt of both private and public real estate investment trusts and real estate companies around the world. The Fund's investment objectives are to generate stable cash flow to provide distributions to unitholders (currently targeted at $0.84/unit/year) and preserve capital while providing the opportunity for long-term capital appreciation.
For further information:
Timbercreek Asset Management Inc.