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Timbercreek completes initial public offering of class A units for US$24.4 million

Fasken
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Confidential Clients

On October 25, 2012, Timbercreek U.S. Multi-Residential Opportunity Fund #1 (the "Fund") announced that it had completed its initial public offering of 2,244,350 class A units (the "Offering") for aggregate gross proceeds of $22,443,500. The class A units were offered to the public by a syndicate of agents co-led by Raymond James Ltd., CIBC and GMP Securities L.P., and including BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., Canaccord Genuity Corp., Macquarie Capital Markets Canada Ltd., Dundee Securities Ltd. and Manulife Securities Incorporated (the "Agents"). The Fund will use the net proceeds from the Offering to acquire multi-residential real estate assets located in the southeastern United States that are mispriced and/or undermanaged in the view of Timbercreek Asset Management Inc., who acts as the manager of the Fund. The Agents were represented by a team of Fasken Martineau lawyers that included John Sabetti, Francesco Tallarico (Corporate/Securities) and Mitchell Thaw (Tax).

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