Timbercreek Senior Mortgage Investment Corporation Announces $3.4 million Non-Brokered Private Placement

TORONTO, July 17, 2012 /CNW/ - Timbercreek Senior Mortgage Investment Corporation (the "Fund"), is pleased to announce it has completed a non-brokered private placement of 344,700 Class I Shares at $10 per Class I Share (the "Private Offering") effective July 17, 2012.  Gross proceeds of this Private Offering will be used to fund mortgage loans invested in from time to time and for general corporate purposes of the Fund.

As of the date of this press release the total issued and outstanding Class A Shares, Class I Shares and Class J Shares were 30,820,054, 344,700 and 478,100 respectively.

About the Fund

The Fund provides investors with an opportunity to receive attractive yields by investing indirectly, through holding shares of the Fund, in mortgage loan investments, comprised of first mortgages, selected and determined to be high quality by its manager, Timbercreek Asset Management Ltd.  The investment objective of the Fund is, with a primary focus on capital preservation, to acquire and maintain a diversified portfolio of mortgage loan investments that generates attractive, stable returns in order to permit the Fund to pay monthly distributions to its shareholders. 

SOURCE Timbercreek Senior Mortgage Investment Corporation

For further information:

Timbercreek Asset Management
Carrie Morris
Vice President, Investor Relations
416-306-9967 x250
cmorris@timbercreek.com

Profil de l'entreprise

Timbercreek Senior Mortgage Investment Corporation

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.