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Timbercreek Files Preliminary Prospectus For The Public Offering Of Timbercreek U.S. Multi-Residential Opportunity Fund #1

TORONTO, April 9, 2013 /CNW/ - Timbercreek U.S. Multi-Residential Opportunity Fund #1 (the "Fund") announced today that it has filed an amended and restated preliminary prospectus (the "Prospectus") with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec. A copy of the Prospectus is available on SEDAR ( www.sedar.com). A receipt for the Prospectus was issued by the applicable securities regulatory authorities on April 9, 2013.

The Prospectus qualifies the distribution (the "Offering") of up to $50 million of Class A Units ("Class A Units") and/or Class B Units ("Class B Units" and, together with the Class A Units, the "Units") of the Fund.  The price per Class A Unit and Class B Unit have not yet been determined by the Fund.  The Class B Units are available for investments of $5 million or more.  The Fund has not applied to list or quote the Units on any stock exchange.

Raymond James Ltd., CIBC World Markets Inc. and GMP Securities L.P., acting as co-lead agents (the "Lead Agents") for a syndicate including Manulife Securities Incorporated, National Bank Financial Inc., BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Scotia Capital Inc., Dundee Securities Ltd. and Macquarie Capital Markets Canada Ltd. (together with the Lead Agents, the "Agents") will commence marketing of the Offering. Prospective purchasers may subscribe for such Units through one of the Agents. .

Net proceeds from the Offering will be used to acquire multi-residential real estate assets located in the southeastern United States (the "Properties") that are mispriced and/or undermanaged in the view of Timbercreek Asset Management Inc., who is the manager to the Fund (the "Manager").

The total return objective of the Fund is to generate a 15% net IRR (or average annualized total rate of return) on a pre-tax basis and net of all fees and expenses, inclusive of an annual distribution yield of 4% to 5% (which includes the allocation to unitholders of U.S. taxes paid by the Fund) paid quarterly.

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