Timbercreek U.S. Multi-Residential Opportunity Fund #1 Announces First Quarter Distribution for 2013

TORONTO, April 2, 2013 /CNW/ - Timbercreek U.S. Multi-Residential Opportunity Fund #1 (the "Fund")") is pleased to announce it has declared a quarterly distribution of $0.084 per class A unit of the Fund ("Class A Units") and $0.088 class C unit of the Fund ("Class C Units") to be paid on April 15, 2013 to holders of Class A Units and C Units of record on March 28, 2013.

The total return objective of the Fund is to generate a 15% net IRR (or average annualized total rate of return) on a pre-tax basis and net of all fees and expenses, inclusive of an annual distribution yield of 4-5% (which includes the allocation to unitholders of the Fund of U.S. taxes paid by the Fund), paid quarterly.  The aforementioned distributions are issued net of U.S. taxes paid by the Fund on behalf of unitholders.  A credit for these taxes paid will be reflected in the 2013 tax reporting to unitholders.

About the Fund

The Fund provides investors with the opportunity to achieve attractive total returns from an asset class that has historically generated strong and stable long-term cash flows. The Fund focuses on an active, value-add investment strategy to acquire and improve multi-unit residential real estate assets (primarily apartment buildings and town house complexes) with a minimum of 200 residential suites located in urban growth markets in the southeast United States (Florida, Texas, Georgia, North Carolina, South Carolina, Virginia, Tennessee, and Alabama). The Fund's properties are managed by Elco Landmark Residential Management, LLC, an experienced property manager with a successful, long-term track record in the Fund's targeted geographic regions. 

SOURCE: Timbercreek U.S. Multi-Residential Opportunity Fund #1

Timbercreek Asset Management Inc.
Carrie Morris
Managing Director, Capital Markets & Corporate Communications 416-800-1552
[email protected]