CIM Group Originates More Than $2 Billion in Commercial Real Estate Loans In 2020
LOS ANGELES--CIM Group, a community-focused real estate and infrastructure owner, operator, lender, and developer, announced today that it originated approximately $2.2 billion of commercial real estate loans in 2020 through its CIM Real Estate Credit Strategies business. CIM Group originated mortgage, mezzanine, bridge, value-add and construction loans ranging from approximately $50-$500 million on a variety of commercial real estate assets including residential, office, industrial and hotels in major metropolitan and suburban markets across the U.S.
“CIM Group has increased its available resources and capital for lending over the past several years and has been strategically deploying that capital across the capital stack and across diverse asset types. When COVID-19 hit, our lending portfolio had low leverage and was in a great position to be a resource to borrowers. With over 25 years of operational expertise and real estate lending experience, we were able to efficiently underwrite risk despite market uncertainty and provide flexible financial solutions to borrowers, allowing them to advance and execute on their business plans,” said Avi Shemesh, Co-Founder and Principal, CIM Group.
CIM Group’s credit platform provides loans from $50-$500 million for commercial real estate located in primary and secondary MSAs. The company’s experience with all types of commercial properties positions its team to analyze not only traditional asset classes, such as office, residential, retail, industrial and hotels, but also niche property types such as data centers, parking, specialty-use projects and entitled land. Through senior and subordinate financing, CIM’s Real Estate Credit Strategies provides bridge and construction financing and works with borrowers to offer an array of lending solutions.
CIM Group maintained an active lending program throughout 2020 with substantial post-COVID-19 originations, including: a $105.5 million loan for the construction of X Denver 3.0, an apartment community with supporting office and retail components in downtown Denver; a $190 million bridge loan on International Plaza I/II, a two-building, 780,000-square-foot office property in Dallas; and a $60 million bridge loan for the acquisition of a 53-acre industrial land site on Staten Island, New York.
CIM Group is an active lender with offices across the country and a presence in more than 135 submarkets across North America, which provides a strong on-the-ground foundation for its expanding debt platform. Additional information is available at www.cimgroup.com/crecs.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.