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Timbercreek U.S. REIT Preferred Fund

Manager Commentary

The Timbercreek U.S. REIT Preferred Fund is pleased to provide you with a quarterly update which highlights the Fund's performance, portfolio changes and includes a quarterly market commentary from the Portfolio Manager.

Q2 2018 – Market Commentary Highlights

  • Driven largely by the Fund's retail, diversified and single family rental holdings, a +2.4% total return was generated on a net basis during the quarter.
  • Within the retail sector, regional mall REIT Pennsylvania REIT Series B and C generated a 13%+ and nearly +12% total return and shopping centre REIT Cedar Realty Series C generated nearly a +7% total return, driven by better retail sales, higher consumer confidence and improving occupancy trends in the first quarter.
  • During the quarter, we added three new positions while exiting four, two of which were QTS Series A perpetual preferred issued in the first quarter and their Series B convertible perpetual preferred issued in June. 

For further commentary, please click on the link below.

Quarterly Manager Commentary

Global Real Estate Securities investments are managed by Timbercreek Investment Management Inc.