Timbercreek

Timbercreek

October 20, 2017 17:33 ET

Timbercreek Global Real Estate Fund and Timbercreek Global Real Estate Income Fund Announce Proposed Merger and Unitholder Meetings

TORONTO, ONTARIO--(Marketwired - Oct. 20, 2017) -

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Timbercreek Investment Management Inc. ("Timbercreek") announced today its intention to merge Timbercreek Global Real Estate Fund (TSX:TGF.UN) into Timbercreek Global Real Estate Income Fund.

Timbercreek Global Real Estate Fund is a closed-end investment fund managed by Timbercreek. Timbercreek Global Real Estate Income Fund is an open-end mutual fund also managed by Timbercreek. Both funds have similar investment objectives and strategies. Each fund was established to provide investors with the opportunity to access a diversified portfolio of dividend-paying global real estate assets and securities in developed markets around the world. Both funds aim to provide income while preserving capital and offer the opportunity for long-term capital appreciation.

"The merger will drive economies of scale, result in reduced expenses (MER and TER for unitholders of each fund), offer greater diversification benefits and improved liquidity," states Corrado Russo, Senior Managing Director, Investment & Global Head of Securities for Timbercreek Investment Management Inc. "These benefits, among others, are driving our decision to pursue the merger as we strongly believe this is in the best interests of our investors."

The proposed merger is subject to the approval of unitholders of both funds at special meetings that will be held on or about December 19, 2017. The merger transaction will also be subject to securities regulatory approval and Timbercreek is in the process of referring the matter to the Independent Review Committee of both funds. In advance of the meetings, full details of the proposed merger will be set out in notices of meeting and management information circulars that will be sent to unitholders of record, on or about November 14, 2017. The notices of meeting and management information circulars will also available on SEDAR at www.sedar.com.

If the merger is approved by unitholders of both funds, Timbercreek will apply to de-list the Class A Units of Timbercreek Global Real Estate Fund from the Toronto Stock Exchange prior to the proposed merger date on or about January 18, 2018.

For more information on either fund, the proposed merger or Timbercreek, please visit our website at www.timbercreek.com.

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