CIM Group raises $103 million for eighth fund
CIM Group has raised an additional $103.3 million for its CIM Fund VIII, according to a filing with the Secutires and Exchange Commission. The opportunistic fund launched in December 2012 with a $2 billion fundraising goal. To date the fund has raised approximately $533.8 million in equity commitments.
CIM Fund VIII will develop and redevelop properties in major markets. The fund focuses on CBD office, hotel, multifamily and retail properties. The seven previous funds set up by CIM fell into one of three categories: opportunistic real estate (Funds I, II and III), core real estate (Funds IV and VI) or infrastructure (Funds V and VII).