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Timbercreek Files Final Prospectus For $130,000,000 Offering

Toronto Stock Exchange: MTG

TORONTO, June 27, 2012 /CNW/ - Timbercreek Senior Mortgage Investment Corporation (the "Company") is pleased to announce that it has filed a final prospectus (the "Prospectus") dated June 26, 2012 with the securities regulatory authorities in each of the provinces and territories of Canada, other than Quebec, and a receipt therefor has been received. A copy of the Prospectus will be available on SEDAR ( www.sedar.com).

The Prospectus qualifies the distribution (the "Offering") of up to 13,000,000 million Class A Shares ("Class A Shares") of the Company at a price of $10 per Class A Share for total gross proceeds to the Company of up to $130,000,000. The Company proposes to offer, concurrently with the Offering, subscription receipts (the "Subscription Receipts") at a price of $10 per Subscription Receipt, on a private placement basis, each of which will represent the right to receive 1.0402 Class A Shares, pursuant to the terms and conditions of subscription receipt agreements. Accordingly, it is intended that the Prospectus will also qualify the issuance of up to 3,356,919 Class A Shares by the Company upon the Subscription Receipts being exchanged for Class A Shares in accordance with the terms thereof. The outstanding Class A Shares are listed and posted for trading on the Toronto Stock Exchange under the symbol "MTG".

The Offering is scheduled to close on or about July 4, 2012. The syndicate of agents is co-led by Raymond James Ltd., TD Securities Inc. and CIBC and including BMO Nesbitt Burns Inc., GMP Securities L.P., RBC Dominion Securities Inc., National Bank Financial Inc., Scotiabank, Manulife Securities Incorporated, Canaccord Genuity Corp. and Macquarie Capital Markets Canada Ltd. (the "Agents").

The Company has granted to the Agents an option (the "Over-Allotment Option"), exercisable in whole or in part for a period of 30 days following the closing of the Offering, to purchase an aggregate of up to 15% of the aggregate number of Class A Shares issued at the closing of the Offering (excluding the Class A Shares qualified under the Prospectus and issued by the Company when the Subscription Receipts are exchanged for Class A Shares) at a price of $10.00 per Class A Share.  The Prospectus qualifies the distribution of the Over-Allotment Option and the Class A Shares issuable on the exercise of the Over-Allotment Option.  If the Over-Allotment Option is exercised in full, the total price to the public under the maximum offering will be $149,500,000.

Net proceeds from the Offering will be used to acquire and manage a diversified portfolio made up of first mortgages with customized terms (the "Customized First Mortgages") that are secured by primarily residential (including multi-residential) real estate as well as office, retail and industrial properties, located primarily in large urban markets and their surrounding areas.

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