Timbercreek Global Real Estate Fund and Timbercreek Global Real Estate Income Fund Announce Completion of Merger

TORONTO, ON--(Marketwired - January 23, 2018) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Timbercreek Investment Management Inc., the manager (the "Manager") of Timbercreek Global Real Estate Fund (TSX: TGF.UN) and Timbercreek Global Real Estate Income Fund, is pleased to announce that the previously announced merger (the "Merger") of Timbercreek Global Real Estate Fund and Timbercreek Global Real Estate Income Fund, as contemplated in the funds' respective management information circulars, each dated November 14, 2017, is complete.

Pursuant to the Merger, each Class A unitholder of Timbercreek Global Real Estate Fund received approximately 1.32 Series A units of Timbercreek Global Real Estate Income Fund for each Class A unit held and each Class B unitholder of Timbercreek Global Real Estate Fund received approximately 1.44 Series F units of Timbercreek Global Real Estate Income Fund for each Class B unit held. A total of 6,377,187 Series A units and 1,442,578 Series F units were issued by Timbercreek Global Real Estate Income Fund in connection with the Merger. The exchange ratios for the units were calculated based on the relative net asset value of the units of Timbercreek Global Real Estate Income Fund and of Timbercreek Global Real Estate Fund as at the close of trading on January 22, 2018.

Timbercreek Global Real Estate Income Fund has acquired substantially all of the assets of Timbercreek Global Real Estate Fund.

A special distribution of $0.055192 per Class A unit and $0.078528 per Class B unit of Timbercreek Global Real Estate Fund was paid to unitholders in connection with the Merger. In anticipation of the completion of the Merger, the Class A units of the Timbercreek Global Real Estate Fund were de-listed from the Toronto Stock Exchange at the close of business on Monday, January 15, 2018.

For more information on either fund, the Merger or Timbercreek, please visit our website at www.timbercreek.com.