Canadians Initiate NYC Real Estate Investment Expansion

Canadian real estate investment company ""Timbercreek Asset Management"":http://www.timbercreekfunds.com/ is expanding its global focus stateside, with the launch of the company's New York City location.

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Based in Toronto, Timbercreek manages approximately $2 billion in assets through its private and publicly-traded real estate-focused funds. The company's New York launch follows last month's opening of Timbercreek offices in Zurich, Switzerland.

""Our expansion provides us with a comprehensive team of local resources covering Canada, the U.S., Europe, and Australia that will source, underwrite and actively manage our real estate investments"" said Blair Tamblyn, CEO of Timbercreek in a company release. ""We will leverage this international expertise not only to support our public and private global real estate funds and investment strategies but also to enable us to

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evaluate opportunities outside of Canada that are consistent with our two other investment platforms - direct real estate ownership and management, and customized mortgage lending.""

Leading Timbercreek's push into new markets are three former employees of Citigroup's real estate investment team.

Sam Sahn will head Timbercreek's New York office, and he will report to Corrado Russo, managing director and global head of real estate securities for the company. Prior to joining Timbercreek, both Russo and Sahn previously worked together at ""Forum Securities"":http://www.forumsecuritiesltd.com/.

During his time at Forum, Russo was an executive director and portfolio manager of global real estate securities, while Sahn was an executive director and global portfolio manager. The two professionals were also paired earlier in their respective careers; both Sahn and Russo were a part of Citi Property Investors, the former real estate investment management group of Citigroup and current subsidiary of ""Apollo Global Management"":http://ir.agm.com/phoenix.zhtml?c=214560&p=irol-IRHome.

Timbercreek's new Switzerland office is managed by Claudia Reich Floyd, another former Citi professional who worked alongside Sahn and Russo. The three have more than 30 years of combined investment experience, particularly in managing global real estate securities mandates.

Founded in 1999, Timbercreek is an alternative investment management business that employs a conservative and risk-averse approach to real estate-based investments.