- What Timbercreek Capital’s North American real estate debt fund has reached more than $848m of assets under management
- Why Timbercreek North American Mortgage Fund wrote $424m of new loans during the second half
- What next The vehicle aims to fund more investments in 2025 amid maturing debt in the U.S.
Timbercreek Capital’s North American real estate debt fund has reached more than $848m (US$600m) in assets under management, with $424m in new loans made in the second half of 2024.
The Timbercreek North American Mortgage Fund focuses on shorter-term, mid-market loans secured by transitional income-producing assets in higher-growth liquid markets. It targets a net return of 9% to 10%.
The fund’s strategy is to capitalize on the high-yield potential of the North American commercial real estate market through a portfolio of select debt instruments. It includes commercial mortgages on assets including multifamily, industrial, office, retail and self-storage properties and land. It writes first, second and mezzanine loans.
The alternative real estate investment manager launched the vehicle in April 2022, with an unnamed global institutional investor as strategic partner and lead investor.
To date, the Toronto-based firm has issued approximately $17bn of loans across Canada, the U.S. and Ireland.
