CIM has a long-term track record of owning, developing and operating assets in communities now known as Opportunity Zones.
Among the 135 communities which CIM has pre-qualified for investment since 1994 (“Qualified Communities”), 65 areas have been classified as Qualified Opportunity Zones "QOZ".
CIM has maintained an emphasis on enhancing densely-populated communities since the company was founded. Prior to initiating a real estate or infrastructure project in a metropolitan area, CIM identifies communities most likely to benefit from its efforts and applies rigorous research to prequalify those communities.
CIM currently owns and operates 20 assets located in Opportunity Zones, representing $4.2 billion of capital deployed.
CIM’s in-house investment, development, finance and property management teams have the community relationships and proven expertise to develop, redevelop and operate assets in Opportunity Zones.
Our community qualification process helps ensure that our work makes a positive difference in communities while creating value for our stakeholders.
Through a variety of real estate and infrastructure strategies, CIM focuses on enhancing the lives of those who live and work in its Qualified Communities, including Opportunity Zones. CIM’s Value-Add strategy emphasizes ground-up development, redevelopment and significant improvement of real estate and infrastructure assets.
CIM makes significant investments in each community, striving not only to increase the value of its assets, but also to enhance the community as a whole.
In the late 1990s, Downtown Los Angeles suffered from a shortage of housing, retail destinations, parking and signage to meet the needs of residents and workers who commuted to the city.
After identifying Downtown Los Angeles as a Qualified Community, CIM began investing in the area in 2001. CIM has since committed more than $600 million to the market and now owns 17 assets in Downtown Los Angeles.
CIM’s investment has delivered such assets as Flower Street Lofts, a vintage UPS warehouse converted into modern condominiums, which was one of the first adaptive reuse projects of its kind in the area. CIM also introduced a Ralph’s grocery store, Downtown Los Angeles’ first supermarket in 50 years.
Oakland experienced major economic challenges during the 1980s and 1990s, when several large employers left the downtown area and major plants closed.
In 2007, CIM supported the City’s efforts to revitalize the downtown area by acquiring its first Oakland properties and participating in the formation of the City Center and Lake Merritt Business Improvement District.
CIM has continued to support Oakland through investment in several hotel, office, retail and residential projects in the city, including the popular mixed-use destination Jack London Square.
Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC
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