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SOURCE Trez Capital
Building on a Successful Track Record of Serving Institutional & High
Net Worth Investor Markets
VANCOUVER, March 6, 2013 /CNW/ - Trez Capital Fund Management Limited
Partnership ("Trez") has raised more than $500 million in 2012 and
launched two publicly traded mortgage investment corporations. Trez
offers a range of mortgage investment vehicles to both institutional
and individual investors, and is committed to continuing to increase
value for its shareholders.
Accordingly, Trez is pleased to announce that each of Trez Capital
Mortgage Investment Corporation (TZZ) and Trez Capital Senior Mortgage
Investment Corporation (TZS) (the "Trez Capital MICs") has received
board approval for the implementation of a Dividend Re-investment Plan
("DRIP") that will allow its shareholders to receive additional Class A
shares rather than cash dividends. This will provide investors with a
convenient way to increase their holdings without incurring transaction
costs. It is anticipated that Class A shares provided to investors
under the DRIP may be issued from treasury or obtained through open
market purchases. Further information regarding the DRIPs will be
provided when the DRIPs become operational.
"After 16 years serving institutional and high net worth investors, we
have taken our track record and proven investment approach and
successfully launched two new mortgage investment corporations to the
broad investor market," said Michael Nisker, President and CEO of both
Trez Capital MICs and Managing Partner of Trez. "By introducing new
features, such as the DRIP, we will make it easy for investors to
efficiently acquire shares and enhance their investment planning. We
will continue to look for opportunities to support our shareholders and
maintain Trez as an attractive investment option."
Trez also announces that it will hold a conference call with investment
advisors to provide an update on both Trez Capital MICs. The call will take place at 11:00 a.m. (EST) on Thursday March 7, 2013. A call-in number will be posted on Trezcapital.com for those unable to participate in the live call.
2012 Trez Milestones
-
Completed $115 million IPO of Trez Capital Mortgage Investment
Corporation in June 2012
-
Raised an additional $115 million through a second offering by Trez
Capital Mortgage Investment Corporation in September 2012
-
Completed $89 million IPO of Trez Capital Senior Mortgage Investment
Corporation in December 2012
-
Raised $107 million in Bison C II (open-ended fund)
-
Closed its third institutional offering raising $90 million
-
Funded over $604 million in new mortgages across all of its investment
funds (including the Trez Capital MICs)
-
Increased its assets under management to more than $1.46 billion
About the Trez Capital MICs
The objective of each Trez Capital MIC is to acquire and maintain a
diversified portfolio of mortgages in Canada that preserves capital and
generates attractive returns in order to pay monthly distributions to
its shareholders. Each Trez Capital MIC accomplishes its investment
objectives through prudent investments in mortgages to qualified real
estate investors and developers, focusing primarily on short-term
bridge financing needs not serviced by traditional real estate lenders.
As at March 6, 2013, Trez Capital Mortgage Investment Corporation (TZZ)
and Trez Capital Senior Mortgage Investment Corporation (TZS) had
approximately 95% and 56%, respectively, of their net assets invested
in mortgages and, based on existing mortgage commitments, net of
repayments, these amounts are expected to increase to approximately 95%
and 115%, respectively, by March 31, 2013. For each Trez Capital MIC,
the yield from its mortgage investments and commitments is on track for
funding its targeted annual distributions.
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