Integrated Asset Management Corp.

Integrated Asset Management Corp.

May 06, 2008 08:00 ET

Integrated Asset Management Corp. Announces $ 21.5 Million Financing for Acacia Okotoks Serenity Ltd.

TORONTO, ONTARIO--(Marketwire - May 6, 2008) - Integrated Asset Management Corp. (TSX:IAM) ("IAM") and its private corporate debt group, Integrated Private Debt Corp.("IPD") announced today the closing of a $21.5 million financing for Acacia Okotoks Serenity Ltd. ("Serenity Manor"). The financing is a senior secured note with a 7 year term. Proceeds of the loan will be used to repay interim construction financing and finance construction completion.

Serenity Manor is a privately-owned, 134 bed assisted living facility located in Okotoks, Alberta south of Calgary.

John Robertson, President of IPD, said "we are pleased to expand our portfolio of infrastructure-type loans as this is a sector in which we see strong continuing demand. We look forward to working with Serenity Manor as they grow."

IPD manages and provides funding from the $1.0 billion Integrated Private Debt Fund LPs on behalf of a number of pension funds and other institutional investors. IPD offers fixed rate, investment grade term loans to mid-market companies for such purposes as refinancing existing debt, plant expansion or modernization, project financing and management buyouts.

IAM is Canada's leading alternative asset management company, with approximately $3.5 billion in assets and committed capital under management in private corporate debt, private equity, managed futures, real estate and retail alternative investments.

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