San Francisco commits $150m to CIM Group
The $19.9 billion San Francisco Employees’ Retirement System has committed $150 million to CIM Group’s SF Real Estate Investors LP.
The commitment is classified as a real estate investment within SFERS’ real assets portfolio and is SFERS’ fifth investment with CIM. Properties in the portfolio include core and value-added office, industrial, retail and apartment assets. The commitment was a part of an approved investment of up to $300 million with SF Real Estate Investors L.P. in a closed session at a Feb. 10 meeting.
CIM primarily invests in urban U.S. properties and focuses its investments on value-added and opportunistic real estate. CIM Group recently bought the Tribune Tower in Chicago for $240 million in an agreement with Tribune Media Co.
SFERS has a t