Formation of Timbercreek Fund
|Areas||Corporate and Commercial, Health Care Law, Private Equity|
Goodmans acted as counsel to Timbercreek Asset Management Inc. (“Timbercreek”) in connection with the formation of its new (and biggest yet) U.S. debt fund, Timbercreek Real Estate Finance U.S. LP (the “Fund”). The Fund completed its initial closing in September 2018 and is seeking to raise capital commitments of US$500 million. The Fund was structured so as to enable Canadian investors to tax-efficiently earn stable and attractive risk-adjusted returns from making loans secured by U.S. transitional income-producing commercial real estate in the Fund’s target markets in the United States.
Founded in 1999, Timbercreek is a leading alternative asset manager, with over C$8.3 billion of global real estate assets under management.