Timbercreek Mortgage Investment Corporation (the “Company”) was established to provide investors with the opportunity to invest indirectly in a diversified portfolio of high quality conventional mortgage loans secured primarily by income-producing real estate located in large urban markets (ie. offices, commercial real estate, multi-residential, retirement communities).
The Company’s objective is to preserve capital while generating attractive, stable and secure cash flows that permit paying monthly cash distributions to shareholders.
The Company was designed to take advantage of an underserved sector of the Canadian mortgage market by investing in shorter-term, customized mortgage loans provided to experienced real estate investors looking for faster execution and more flexible terms than typically offered by Canadian financial institutions. These loans are primarily interest-only, and used to bridge a period up to three years for such items as, repairs and redevelopment of a property, or for the purchase of another property, with a loan-to-value ratio up to 85%. The loans are normally repaid with conventional mortgage funding from a financial institution.
|Security || Common Shares (TSX: TMC) |
|Monthly Cash Distributions || $0.067 share |
|Annual Management Fee || 1.2% of gross assets |
|Annual Performance Fee ||20% of net earnings above average of 2-year |
GOC yield plus 450 bps
|Eligibility ||RRSP, RRIF, DPSP, RDSP, RESP, TFSA |