Core Viewpoint - Timbercreek Financial Corp. has provided an update regarding its mortgage investment in the recently renovated 40-storey office tower "Stephen Avenue Place" in downtown Calgary, indicating a significant development in its financial management strategy [1][3]. Mortgage Investment Details - Timbercreek Financial is one of several secured creditors with a gross mortgage balance of $139 million as of June 30, 2025, which is fully syndicated among three institutional partners [2]. - The company's gross exposure to this mortgage is $15 million, representing 10.8% of the total loan and 1.3% of its net mortgage portfolio valued at $1,114 million [2]. Legal Proceedings - On October 15, 2025, Timbercreek Mortgage Servicing Inc. applied for the appointment of MNP Ltd. as receiver and manager of the property, a decision made after the termination of a forbearance period [3]. Management Commentary - The CEO of Timbercreek Financial emphasized the importance of disclosing the company's net exposure and highlighted the firm's extensive experience in managing commercial real estate debt, having originated over $18 billion since 2007 [4]. Company Overview - Timbercreek Financial is a leading non-bank commercial real estate lender, providing structured financing solutions with a focus on faster execution and flexible terms compared to traditional Canadian financial institutions [5].