Timbercreek Financial Announces Executive Appointments

Toronto, Ontario, CANADA

TORONTO, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Timbercreek Financial (TSX: TF) (the “Company”) today announced the appointments of a new Chief Executive Officer and new Chief Financial Officer.

Blair Tamblyn, Chief Executive Officer and Co-Founder of Timbercreek Asset Management and Chairman of Timbercreek Financial, has been appointed Chief Executive Officer of the Company, replacing Cameron Goodnough, effective November 13, 2020. As the Co-Founder of Timbercreek Asset Management, Mr. Tamblyn was deeply involved in the formation of Timbercreek Financial and the Timbercreek lending platform, has been on the Board of Directors of the Company and its predecessors since inception in 2007, and previously served as CEO.

Timbercreek also announced that Tracy Johnston, CPA, CA, has joined as the new Chief Financial Officer, replacing Gigi Wong, effective November 13, 2020. Ms. Johnston spent the past 15 years in senior finance roles, mainly in the real estate industry. Most recently, she was Senior Director, Financial Reporting for The Cadillac Fairview Corporation where she led the financial reporting to both private and public stakeholders for three entities. Previously, she held several senior finance positions for DREAM Office REIT and DREAM Industrial REIT and spent more than five years with Deloitte & Touche LLP focusing on audits for Canadian and U.S. publicly listed companies.

“We thank Cam and Gigi for their significant contributions to Timbercreek Financial and their efforts in building the capital markets profile and relationships for the Company,” said Mr. Tamblyn. “We’re excited to welcome Tracy to the CFO role and, together with our broader senior team, expect to continue providing effective and engaged communication with the investment community. Our Company has a long and successful track record, and we move forward with a robust and growing full-service debt platform, which leaves us well positioned to deliver on our investment objectives: preserve capital and provide strong risk-adjusted returns.”

“This has been a highly rewarding chapter for me professionally, and I wish the Timbercreek team continued success in the coming years,” said Mr. Goodnough. “I look forward to supporting the group to ensure a smooth transition.”

The senior team responsible for executing the Company’s investment strategy continues to be led by Scott Rowland (Chief Investment Officer), Julie Neault (Head of Global Credit) and Geoff McTait (Head of Canadian Originations and Global Syndications). They are supported by a team of more than 40 professionals focused on commercial real estate debt strategies.

These appointments reflect the reorganization of Timbercreek Asset Management, which resulted in the debt and equity businesses being separated into two companies. Mr. Goodnough and Ms. Wong held roles with both businesses and continue in leadership roles with the equity business going forward. Timbercreek Asset Management, manager of Timbercreek Financial, is one of the largest and most experienced non-bank commercial mortgage lenders in Canada, with more than $11.0B in mortgage originations across Canada, the U.S., and Ireland/UK.

About the Company

Timbercreek Financial is a leading non-bank, commercial real estate lender providing shorter-duration, structured financing solutions to commercial real estate professionals. Our sophisticated, service-oriented approach allows us to meet the needs of borrowers, including faster execution and more flexible terms that are not typically provided by Canadian financial institutions. By employing thorough underwriting, active management and strong governance, we are able to meet these needs while generating strong risk-adjusted yields for investors. Further information is available on our website, www.timbercreekfinancial.com.

Forward-Looking Statements

Certain statements contained in this news release may contain projections and "forward looking statements" within the meaning of that phrase under Canadian securities laws. When used in this news release, the words "may", "would", "should", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "objective" and similar expressions may be used to identify forward looking statements. By their nature, forward looking statements reflect the Company's current views, beliefs, assumptions and intentions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, those risks disclosed in the Company's public filings. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by these forward looking statements. The Company does not intend to nor assumes any obligation to update these forward looking statements whether as a result of new information, plans, events or otherwise, unless required by law.

SOURCE: Timbercreek Financial

For further information, please contact:
Timbercreek Financial
Blair Tamblyn
Chair of the Board of Directors