CIM Group and Mitsui & Co. announce strategic partnership
Mitsui & Co. has acquired 20 percent of CIM Group, forming a strategic partnership that expands both organizations’ growth initiatives in real estate and infrastructure investments across North America. Mitsui’s total investment will be $450 million to $550 million, with adjustments based on terms of the agreement.
Proceeds from Mitsui’s 20 percent investment in CIM will be used to fund CIM's continued growth. Mitsui also will commit capital to multiple CIM funds. CIM will continue to be overseen and controlled by its founders and principals.
Through its partnership with CIM, Mitsui will enter the U.S. real estate asset management market and will enhance its steady profit base, with CIM positioned at the core of its international asset management strategy.
“We are excited to partner with Mitsui to position CIM to be the first choice for Japanese investors interested in real estate and infrastructure investments in North America,” said Avi Shemesh,