UPDATED: CIM exceeds fundraising target
The CIM Group has raised more than $2.4 billion for CIM Fund VIII. The fund, which launched in December 2012, has now exceeded its $2 billion target fundraising haul. The opportunistic fund develops and redevelops assets across the major property types in primary markets in North America. Recent institutional investors in the fund include the New York State Common Retirement Fund, which committed $200 million to the fund in late 2014. The firm recently announced the acquisition of a two-acre parcel located at 1000 Channel St. between Third and Fourth Streets in the Mission Bay submarket of San Francisco.