Toronto Stock Exchange: TGF.UN
TORONTO, Sept. 21, 2015 /CNW/ - Timbercreek Global Real Estate Fund (the "Fund") is pleased to announce it has declared a quarterly distribution of $0.210 per class A unit of the Fund ("Class A Units") and $0.210 per class B unit of the Fund ("Class B Units") to be paid on October 15, 2015 to holders of Class A Units and Class B Units of record on September 30, 2015.
In conformity with the March 2015 review, the Fund has determined that it intends to maintain a quarterly distribution of $0.21 per Unit ($0.84 per annum) until the next annual determination in March 2016.
As of September 21, 2015 there were 5,786,920 Class A Units and 761,414 Class B Units outstanding.
As closing of the Fund's previously announced offering (the "Offering") of 840,000 Class A Units (966,000 Class A Units if the underwriters' over-allotment is exercised in full) at a price of $14.07 per Class A Unit is expected to occur on or about September 29, 2015, purchasers of Class A Units pursuant to the Offering will be eligible to receive the third quarter distribution.
The amended and restated preliminary short form prospectus of the Fund dated September 16, 2015 contains important information relating to the Offering and the Class A Units being offered thereunder. The amended and restated preliminary short form prospectus remains subject to completion or amendment. Copies of the amended and restated preliminary short form prospectus are available at www.sedar.com, from your registered financial advisor using the contact information for such advisor, or from representatives of the underwriters for the Offering. There will not be any sale or acceptance of an offer to buy the Class A Units being offered pursuant to the Offering until a receipt for the Fund's final short form prospectus has been issued.
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 and preserve capital while providing the opportunity for long-term capital appreciation.
SOURCE Timbercreek Global Real Estate Fund
For further information:
Timbercreek Asset Management