Timbercreek U.S. Multi-Residential Opportunity Fund #1 Announces Corrected Record Date on First Quarter Distribution for Class C Units
TORONTO, April 15, 2013 /CNW/ - Timbercreek U.S. Multi-Residential Opportunity Fund #1 (the "Fund") previously announced that it has declared a quarterly distribution of $0.084 per class A unit of the Fund ("Class A Units") and $0.088 per class C unit of the Fund ("Class C Units") to be paid on April 15, 2013 to holders of Class A Units and Class C Units of record March 28, 2013. The record date announced for the holders of Class C Units was incorrect, and the distribution shall be made to holders of Class C Units of record on March 14, 2013.
About the Fund
The Fund provides investors with the opportunity to achieve attractive total returns from an asset class that has historically generated strong and stable long-term cash flows. The Fund focuses on an active, value-add investment strategy to acquire and improve multi-unit residential real estate assets (primarily apartment buildings and town house complexes) with a minimum of 200 residential suites located in urban growth markets in the southeast United States (Florida, Texas, Georgia, North Carolina, South Carolina, Virginia, Tennessee, and Alabama). The Fund's properties are managed by Elco Landmark Residential Management, LLC, an experienced property manager with a successful, long-term track record in the Fund's targeted geographic regions.
SOURCE Timbercreek U.S. Multi-Residential Opportunity Fund #1