CIM Group raises $813m for eighth fund
CIM Group has raised $813 million for its CIM Fund VIII, according to a filing with the SEC. The opportunistic fund launched in December 2012 with a $2 billion fundraising goal.
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) and infrastructure (Funds V and VII).