December 16, 2009.  BURLINGTON,ON. –Timbercreek Asset Managment Inc. (“Timbercreek”) is pleased to announce that,on behalf of one of its institutional accounts, it has completed theacquisition a multi-residential asset in Burlington, Ontario consisting of 185 unitsfor a total consideration of $16.5 million (the “Acquisition”).  TheAcquisition brings the total portfolio of multi-residential real estate managedby Timbercreek Asset Management Inc (“TAMI”) to approximately 8300 units.

The institutional accountbenefiting from the Acquisition is focused on building a portfolio ofstabilized, multi-residential real estate and has engaged Timbercreek toprovide both asset and property management services for the portfolio. 

Timbercreek is a specializedinvestment manager focused on real estate and other alternative asset classes.Timbercreek has a value oriented investment philosophy with an activemanagement style, and specializes in providing conservatively managed, riskadverse investment opportunities to institutions, trusts and endowment funds,discretionary investment advisors and qualified individuals. Timbercreekcurrently manages approximately $830 million in assets through its four active funds,predominately focused in the real estate sector. Timbercreek believes that attractive investment returns are achieved bydirectly controlling the management of investments and has thereforeestablished a full service property management platform to internally manageall direct real estate investments made through its funds.   

For more information,contact:

Timbercreek Asset ManagementInc.

Carrie Morris

416-306-9967 x250

cmorris@timbercreekfunds.com