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Timbercreek acquires asset in 'Yonge and Eglinton', Toronto, Ontario

06/12/2009

TORONTO, June 12 /CNW/ - Timbercreek Asset Management Inc. ("TAMI") is pleased to announce that, on behalf of Timbercreek Opportunity Fund No.2 (the "Fund"), it has completed the acquisition of 204 units in the 'Yonge and Eglinton" area of Toronto, Ontario for a total consideration of $22.5 million (the "Acquisition"). The Acquisition brings the total portfolio of multi-residential real estate managed by TAMI to approximately 7,000 units. The Fund is an institutionally funded limited partnership focused on creating value from distressed multi-residential assets in Canada. As the Fund's General Partner, TAMI is mandated to source assets, the values of which have been impaired by prior mismanagement, economic dislocation and other market inefficiencies and subsequently, through its active management approach, reposition and enhance these assets in order to maximize IRRs and the return of partner capital.

Timbercreek Asset Management Inc. ("TAMI") is one of Canada's fastest growing alternative asset class investment managers. TAMI has a value oriented investment philosophy with an active management style, and specializes in providing conservatively managed, risk adverse investment opportunities to institutions, trusts and endowment funds, discretionary investment advisors and qualified individuals. TAMI currently manages approximately $830 million in assets through its four active funds, predominately focused in the real estate sector. TAMI believes that attractive investment returns are achieved by directly controlling the management of investments and has therefore established a full service property management platform to internally manage all direct real estate investments made through its funds.

For further information:
Timbercreek Asset Management Inc.
Carrie Morris
Director, Investor Relations
 (416) 306-9967 x250
cmorris@timbercreekfunds.com

Contact Us:

Timbercreek Asset Management
1000 Yonge Street, Suite 500, Toronto, Ontario, Canada M4W 2K2

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