MARCH 17, 2005. TORONTO, ONT. –Timbercreek REIT has scheduled its next closing of REIT units for April 12,2006. Equity raised will fund the acquisition of 623 units, 9 buildings acrossthe Halifax Regional Municipality (HRM).

The addition of the Halifax unitsbrings Timbercreek’s total portfolio of exclusive multi-family to just over3,000 units and provides an opportunity for Timbercreek to further diversifyboth geographically and economically.

Timbercreek Asset Management Inc.(TAMI) is the exclusive asset manager for Timbercreek Investments Inc. andTimbercreek REIT. Both funds co-invest in a portfolio of properties with atotal asset value of approximately $151 million. TAMI works on behalf of thetwo funds to source multi-family residential opportunities in North America anddeploy experienced managers to oversee the operations of these properties.TAMI’s ultimate goal is to capitalize on market inefficiencies by combining aservice oriented focus with undervalued assets.