Timbercreek Mortgage Investment Corporation Announces Non-Brokered Private
Placement Financing

TORONTO, Dec. 2 /CNW/ - Timbercreek Mortgage Investment Corporation (the "Fund"), is pleased to announce it has completed a non-brokered private placement of 491,500 Class B Shares at $10 per Class B Share (the "Private Offering") effective December 1, 2010.  Gross proceeds of this 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 and Class B Shares were 13,383,657 and 3,891,791 respectively.  This brings total assets of the Fund to approximately $168 million or just over half way to the maximum Fund size of $300 million. 

Through a number of public and private offerings, the Fund has raised just under $100 million in equity over the last 12 months.  "We are continuing to grow the Fund at an orderly pace in order to prudently manage capital inflows with opportunities to make mortgage investments," states R. Blair Tamblyn, Chief Executive Officer for the Fund. "We expect to be back in the market in early 2011 once all cash has been deployed and sufficient investment opportunities have been sourced to warrant additional growth." 

Andrew Jones, who is responsible for originating mortgage investment opportunities for the Fund, remains positive on market fundamentals.  "Deal flow is still very strong," explains Mr. Jones, "and we continue to see a number of attractive investment opportunities that are secured by high quality, income-producing assets." 

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 selected and determined to be high quality by the Fund Manager.  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.   

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For further information:

Timbercreek Asset Management
Carrie Morris
Vice President, Investor Relations
416-306-9967 x250
[email protected]