THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. TORONTO, July 10, 2024 (GLOBE NEWSWIRE) -- Timbercreek Alternatives LP, a subsidiary of Timbercreek Capital ("Timbercreek Alternatives" or the "Manager") and Aspen Properties ("Aspen") are pleased to announce they have entered into a joint venture to form 1 Palliser Square LP (the "LP"), which intends to complete a private placement offering of up to 3,000,000 Series A units ("Series A Units"), Series C units ("Series C Units") and Series F units ("Series F Units", and together with Series A Units and Series C Units, "Units") at an initial offering price of $10.00 per Unit. 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. The Trust has engaged Raymond James Ltd. and Canaccord Genuity Corp. (the "Lead Agents") as co-lead agents and joint bookrunners on behalf of a syndicate of agents, which includes, iA Private Wealth Inc., Richardson Wealth Limited and Wellington-Altus Financial Inc. (collectively, the "Agents") to offer for sale on a private placement basis up to a maximum of $30,000,000 of Series A Units and/or Series F ...