TORONTO, ON--(Marketwired - January 23, 2017) - Timbercreek Global Real Estate Fund (the "Fund") (TSX: TGF.UN) is pleased to announce it has declared a special distribution of $0.05 per class A unit of the Fund ("Class A Units") and $0.05 per class B unit of the Fund ("Class B Units") payable to holders of Class A Units and Class B Units of record on February 27, 2017. The distribution will be paid to such unitholders on March 15, 2017.
The special distribution is in addition to the Fund's distribution announced on December 20, 2016, as a result of a surplus of distributable income generated in 2016.
"The volatility through 2016 allowed us to make opportunistic investments, which enhanced our overall distributable income and allowed the Fund to generate a strong total return relative to the benchmark in 2016. We expect these investments to continue to pay significant dividends and achieve attractive total returns in the long term," commented Corrado Russo, Portfolio Manager of the Fund.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "continue", "will" and similar expressions to the extent they relate to the Fund. The forward-looking statements are not historical facts but reflect the Manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Manager undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
About the Fund
The Fund invests in a diversified portfolio of premier global real estate asset securities including common equity, preferred shares and debt of both private and public real estate investment trusts and real estate companies. The Fund's objective is to preserve capital while generating attractive, stable and secure cash flows that permit paying quarterly cash distributions to unitholders.
For more information on the Fund and Timbercreek Asset Management, please visit our website at www.timbercreek.com.