TIMBERCREEK MORTGAGE INVESTMENT CORPORATION APPOINTS NEW DIRECTOR

Toronto Stock Exchange: TMC

TORONTO, Nov. 25 /CNW/ - Timbercreek Mortgage Investment Corporation (the "Fund") is pleased to announce the appointment of Derek J. Watchorn, to its board of directors (the "Board") effective immediately. 

Mr. Watchorn, a lawyer by trade, has extensive experience in the real estate industry through a variety of senior management and director positions he has held with both public and private organizations in Ontario and abroad. 

Mr. Watchorn was the President and Chief Executive Officer of Revera Inc. (formerly Retirement Residences REIT) from October 2004 until June 2009.  Prior to that, he served in London, England as Executive Vice President of Canary Wharf plc from January 2003 until June 2004 and as Executive Director of TrizecHahn plc from January 1999 until June 2001.

Before and after his senior management role with TrizecHahn, Mr. Watchorn was a senior patner of the law firm Davies Ward Phillips & Vineberg LLP, which he joined as a solicitor in 1968 and became partner of in 1970.  During the period from 1987 to 2004 (excluding his tenure with TrizecHahn), Mr. Watchorn was a senior advisor to the Paul Reichmann family in Toronto and, in that capacity, during a three year period from 1987 until 1990, served on a seconded basis from Davies Ward as Executive Director Olympia & York Canary Wharf plc.

For the past two years, Mr. Watchorn has been acting as a special advisor to the Armadale Co. Ltd. in connection with their proposed redevelopment of the Buttonville Airport land.

Mr. Watchorn is a past Chairman of ORTEC (formerly the Ontario Research Foundation) and HSC Research Development Corporation (Hospital for Sick Children) and has been a director of a number of public and private corporations in Ontario and the UK.  He is currently a director of Patheon Inc..

The Fund considers Mr. Watchorn's vast experience a valuable asset to the leadership of the Fund and an excellent complement to the Board.

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 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. 

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For further information:

Timbercreek Asset Management Ltd.
Carrie Morris
Investor Relations
416.306.9967 x250
[email protected]