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Client Work

Timbercreek Mortgage Investment merges with Timbercreek Senior Mortgage Investment Corporation

Fasken
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Overview

Client

TD Securities Inc.

On May 06, 2016 Timbercreek Mortgage Investment Corporation (TMIC) and Timbercreek Senior Mortgage Investment Corporation (TSMIC) combined to create a leading non-bank commercial real estate lender and Canada's largest publicly traded mortgage investment corporation. The merger is valued at $650 million and the entity will now be known as Timbercreek Financial Corp. A syndicate of lenders led by TD Bank provided $350 million revolving credit facility to ensure strong risk-adjusted returns. Fasken Martineau advised TD Bank on the financing, with a team led by Jon Holmstrom and Louise Kennedy.

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