Timbercreek Global Real Estate Income Fund
The Timbercreek Global Real Estate Income Fund is pleased to provide you with a quarterly update which highlights the Fund's performance, portfolio changes and market commentary from the Portfolio Manager.
Third Quarter 2019 Highlights
- Year-to-date, the fund has generated a 16.4% total return1.
- The Fund’s exposure to the United States and United Kingdom increased while Japan and Singapore decreased.
- The Fund added seven new common equity holdings while exiting five.
- In terms of what worked, in Japan, Invesco Office J-REIT 19.2% (JPY) while in Singapore, Keppel DC REIT delivered a +20.1% total return (SGD). In the U.S., Brixmor Property Group gained 15.2% (USD) and Colony Capital generated a +22.6% total return (USD). In Canada, Dream Global REIT gained 22.9% (CAD) on the heels of Blackstone announcing an all-cash takeover at C$16.79 per share.
1The returns are based on Class F units, net return
For further commentary, please click on the link below.
Quarterly Manager Commentary
Global Real Estate Securities investments are managed by Timbercreek Investment Management Inc.