Timbercreek Asset Management Inc., a Canadian real estate investment firm, plans to more than double its exposure to publicly listed companies amid an increasingly competitive private market.
“There’s a lot more capital chasing fewer deals and that’s creating a very competitive market for private real estate,” Corrado Russo, global head of securities at Timbercreek, said by phone. “A lot of companies are turning to REITs as a good proxy to get their capital to work.” “When we look at quality of assets in the overall REIT market around the world versus Canada, we’re finding better quality assets outside of Canada,” Russo said.
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