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Sign in Sign up for a FREE subscriptionCIM Group raises $556m for opportunistic real estate fund
CIM Group, a community-focused real estate and infrastructure owner, operator and lender, has raised capital for an opportunistic real estate fund, according to a filing with the SEC. CIM Group did not comment on its fundraising efforts.
The closed-end fund, CIM Fund IX, is similar to CIM’s previous opportunity funds, as the new vehicle will invest in the repositioning and development of retail, residential, office, parking, hotel and other property types in urban communities in the United States. A fundraising target was not disclosed in the filing.
The fund’s predecessor, CIM Fund VIII, held a $2.41 billion final close in 2015.
CIM Group owns and operates $28.6 billion of real assets that support the needs of communities across North America.
