OCTOBER 6, 2009. OAKVILLE, ONT.  – Timbercreek Asset Managment Inc. (“Timbercreek”) ispleased to announce that, on behalf of one of its institutional accounts, ithas completed the acquisition of a 2 multi-residential buildings located in Oakville,Ontario for a total consideration of $12.9 million (the “Acquisition”).  TheAcquisition consists of 3 buildings and approximately 131 units and brings thetotal portfolio of multi-residential real estate managed by Timbercreek toapproximately 7,200 units.

The institutional account benefitingfrom the Acquisition is focused on building a portfolio of stabilized,multi-residential real estate and has engaged Timbercreek to provide both assetand 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 activefunds, predominately focused in the real estate sector. Timbercreek believes that attractive investmentreturns are achieved by directly controlling the management of investments andhas therefore established a full service property management platform tointernally manage all direct real estate investments made through itsfunds.   

For more information,contact:

Timbercreek Asset ManagementInc.

Carrie Morris

416-306-9967 x250

cmorris@timbercreekfunds.com