Timbercreek Global Real Estate Fund raises an additional $2.85 million for
total gross proceeds of $64.6 million, as the Over-Allotment Option is
exercised by the Agents

TORONTO, Sept. 14 /CNW/ - Timbercreek Global Real Estate Fund (the "Fund") is pleased to announce today that the Fund has successfully issued an additional 238,192 Class A Units pursuant to the exercise by the Agents of their Over-Allotment Option, at $12.00 per Class A Unit, for gross proceeds of $2,858,304. Total gross proceeds are now $64,561,344, including proceeds from an initial public offering of units of the Fund.

The class A and B units were offered to the public by a syndicate of agents co-led by BMO Capital Markets and Raymond James Ltd., and including CIBC, Macquarie Capital Markets Canada Ltd., National Bank Financial Inc., Scotia Capital Inc., Manulife Securities Incorporated, HSBC Securities (Canada) Inc., Canaccord Genuity Corp., GMP Securities L.P. and M Partners Inc.

The Fund, an investment fund formed under the laws of the Province of Ontario and managed by Timbercreek Asset Management Ltd., was established to invest in a globally diversified portfolio (the "Portfolio") of premier real estate securities including common equity, preferred shares and debt of both public and private real estate investment trusts and real estate companies in Canada, United States, United Kingdom, Continental Europe, Japan, Australia, Hong Kong and other countries. The Manager has engaged FSX Securities Canada, Inc. (the "Global Investment Advisor") to provide portfolio management services to the Fund. Through the Manager's partnership with the Global Investment Advisor, the Fund will be supported by a team of real estate analysts based in Toronto, New York, London and Hong Kong that are strictly dedicated to analyzing and investing in real estate securities.

The Fund's investment objectives are to provide holders of Units ("Unitholders") with quarterly distributions initially targeted to be $0.21 per Unit ($0.84 per annum representing an annual cash distribution of 7.0% based on the $12.00 per Unit issue price); and preserve capital while providing the opportunity for long-term capital appreciation for Unitholders.

The Manager believes there is a compelling investment opportunity to invest in a globally diversified portfolio of premier real estate securities that exists because the global real estate securities market is inefficient relative to that of the direct real estate or broader equities markets. Managed by a specialized real estate manager, the Fund's unique investment strategy has been designed to capitalize on these pricing inefficiencies in order to deliver a stable income stream that can be acquired at a price that the Manager believes does not reflect the long-term value of the underlying assets. Furthermore, Global Investment Advisor believes that the current volatility in global equity markets provides the Fund with the rare opportunity to assemble a global portfolio of prime real estate securities at prices that generate attractive, stable yields with the potential for capital appreciation.

The Manager, a wholly owned subsidiary of Timbercreek Asset Management Inc., is an investment management company that employs a conservative and risk-averse approach to real estate-based investments. The Manager and its affiliates currently manage approximately $1.1 billion in real estate-related assets, including direct ownership and mortgages.

The Global Investment Advisor is a wholly-owned subsidiary of Forum Securities Limited ("Forum Securities"), which is an affiliate of Forum Partners Investment Management LLC ("Forum Partners"). Forum Securities provides a platform for investment in global public real estate securities with over $500 million in assets under management. Since inception, Forum Securities has demonstrated the ability to continually beat its benchmark while employing similar investment strategies to the Fund. Forum Partners provides real estate related private equity investment opportunities for large institutional clients on a global basis with over $2 billion currently under management.

All capitalized terms noted herein and not defined are as per the prospectus dated August 5, 2010.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of the Fund in the United States.

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For further information: Timbercreek Asset Management Inc., Carrie Morris, Vice- President, Investor Relations & Corporate Governance, 416-306-9967 x250, [email protected]