Timbercreek Capital Announces Final Close of Second Irish Real Estate Debt Fund at €123.5 million

TORONTO, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Timbercreek Capital Inc. ("Timbercreek" or the "Company"), a leading alternative real estate investment manager, focused on providing transitional financing solutions to experienced real estate owners and investors, today announced the final close of Timbercreek Ireland Fund II ("TREF Ireland Fund II" or "the Fund") at €123.5 million (C$185 million).

TREF Ireland Fund II is backed by a well-diversified, global investor base including the Ireland Strategic Investment Fund ("ISIF"), Alberta Investment Management Corporation ("AIMCo"), and other global institutional investors. The closed-end fund may recycle capital throughout its lifetime and will initially seek to deploy €300m (C$450m) into middle market transitional real estate loans in Ireland.

"AIMCo sees this as a great opportunity to invest in a market that has strong growth fundamentals and that provides geographic diversification to our mortgage investment portfolio," said Sarah Esler, Managing Director, Head of Mortgage Investments, Alberta Investment Management Corporation. "We are excited to partner with Timbercreek Capital ...