The LP intends to use net proceeds for the purchase of the Palliser One Office building for the purpose of converting approximately 418,000 SF of office into approximately 420 residential units and amenities. The Palliser One Office building is located next to the Calgary Tower in downtown, Calgary, Alberta.

Timbercreek Alternatives is led by Fraser McEwen, a highly experienced capital markets executive who joined the TCAP leadership team earlier this year in a newly created role as President, Timbercreek Alternatives.

TORONTO, April 27, 2022 (GLOBE NEWSWIRE) -- Timbercreek Capital is pleased to announce its continued expansion in the United States with the launch of its first open-ended North American private debt fund, with a large global institutional investor as strategic partner and lead investor.