November 25, 2010. Toronto, ON.  – Timbercreek Asset Management (“Timbercreek”) is pleased to announce that, on behalf of Timbercreek Opportunity Fund #2 (the “Fund”),it has completed the acquisition of 56 multi-residential units in Toronto, Ontario (the “Acquisition”) for a total consideration of $6.48 million.  The Acquisition brings the total portfolio ofmulti-residential real estate managed by Timbercreek to approximately 9,500 units, of which approximately 1,950 unit are located in the Greater Toronto Area. 

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, Timbercreek ismandated to source assets, the values of which have been impaired by priormismanagement, economic dislocation and other market inefficiencies andsubsequently, through its active management approach, reposition and enhancethese assets in order to maximize IRRs and the return of partner capital. 

Timbercreek is a specialized investment manager focused on real estate and otheralternative asset classes. Timbercreek has a value oriented investmentphilosophy with an active management style, and specializes in providingconservatively managed, risk adverse investment opportunities to institutions,trusts and endowment funds, discretionary investment advisors and qualifiedindividuals. Timbercreek currently manages approximately $1.4 billion in assetsthrough its seven active funds, predominately focused in the real estatesector. 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 Management

CarrieMorris

416-306-9967x250

cmorris@timbercreekfunds.com