Timbercreek U.S. Multi-Residential Opportunity Fund #1 Announces Third Quarter Distribution
TORONTO, Sept. 27, 2013 /CNW/ - Timbercreek U.S. Multi-Residential Opportunity Fund #1 (the "Fund") has declared a distribution (the "Distribution") of $0.084 per class A unit of the Fund ("Class A Units"), $0.088 per class B unit of the Fund ("Class B Units") and $0.088 per class C unit of the Fund ("Class C Units") to be paid on October 15, 2013 to holders of Class A Units, Class B Units and Class C Units of record on September 30, 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 targeted 15% IRR is inclusive of a 4-5% pre-tax yield paid quarterly. The Fund focuses on an active, value-add investment strategy to acquire and improve multi residential real estate assets 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.
For more information on the Fund and Timbercreek Asset Management Inc., please visit our website at www.timbercreek.com.
SOURCE Timbercreek U.S. Multi-Residential Opportunity Fund #1