Dec 16, 2009.  OSHAWA,ONT.  – Timbercreek Asset Managment Inc. (“Timbercreek”) is pleased toannounce that, on behalf of one of its institutional accounts, it has completedthe acquisition of 158 multi-residential units in Oshawa, Ontario for a totalconsideration of $9.2 million (the “Acquisition”). The Acquisition bringsthe total portfolio of multi-residential real estate managed by TimbercreekAsset Management Inc. (“TAMI”) to approximately 8500 units.

 The institutional account benefiting from theAcquisition is focused on building a portfolio of stabilized, multi-residentialreal estate and has engaged Timbercreek to provide both asset and propertymanagement 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, risk adverseinvestment 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