Timbercreek Financial Comments on Group Sélection Loans
TORONTO, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Timbercreek Financial Corp. (TSX: TF) (the “Company” or “Timbercreek Financial”) today provided commentary and clarification on its loans to Groupe Sélection Inc. (“Groupe Sélection”), one of Canada’s largest private companies in the retirement community sector.
- TORONTO, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Timbercreek Financial Corp. (TSX: TF) (the “Company” or “Timbercreek Financial”) today provided commentary and clarification on its loans to Groupe Sélection Inc. (“Groupe Sélection”), one of Canada’s largest private companies in the retirement community sector.
- Timbercreek is in the business of originating commercial mortgages and often works with third-party lenders to share loans based on different risk and return criteria.
- Timbercreek Financial is actively representing itself and its syndication partners legally and is closely involved in the current proceedings before the courts.
- Blair Tamblyn, CEO of Timbercreek Financial, said: “While we do not typically comment on individual loans, we felt it was important to clarify our net exposure in this circumstance.