{"id":1004430898,"date":"2020-05-05T04:21:43","date_gmt":"2020-05-05T12:21:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004430898"},"modified":"2021-05-15T07:53:45","modified_gmt":"2021-05-15T15:53:45","slug":"cim-group-launches-new-fund","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cim-group-launches-new-fund\/","title":{"rendered":"CIM Group Launches New Fund"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay.com<\/em><\/p><\/div>\n

CIM Group, of Los Angeles, has launched a new closed-end interval fund, the CIM Real Assets & Credit Fund. CIM RACR reportedly aims to invest in a mix of institutional-quality real assets and credit instruments. Its investment objective<\/a> is to generate current income through cash distributions and preserve shareholders\u2019 capital across various market cycles, with a secondary objective of capital appreciation, according to CIM Group. CIM Capital IC Management LLC is the investment adviser to CIM RACR.<\/p>\n

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READ ALSO<\/strong>: Los Angeles Mall to Land New Owner<\/a><\/p>\n

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Real assets may consist of direct real estate and infrastructure held through one or more wholly owned REIT subsidiaries, as well as publicly traded REITs, non-affiliated private REITs and real estate debt. Credit-related investments might include investments in floating- and fixed-rate loans, broadly syndicated senior secured corporate loans, investments in the debt and equity tranches of collateralized loan obligation vehicles, and opportunistic credit investments.<\/p>\n

In a prepared statement, David Thompson, the fund\u2019s CEO, said the fund intends to build \u201ca balanced portfolio of real assets and corporate credit assets, allowing investors the opportunity to leverage the potential benefits of both asset classes with a goal of providing income and capital preservation, without the double fees associated with typical real estate-focused interval funds<\/em>.\u201d<\/p>\n

A CIM affiliate will invest a total of $20 million in the fund over time as it receives subscriptions from investors. CIM RACR is available in four share classes: C Shares (RACRX), A Shares (ARACX), I Shares (IRACX) and L Shares (LRACX).<\/p>\n

OFS Capital Management LLC will be the fund\u2019s investment sub-advisor for its corporate credit assets. ALPS Distributors Inc. is CIM RACR\u2019s distributor. A CIM spokesperson did not reply to Commercial Property Executive<\/em>\u2019s request for additional information.<\/p>\n

Wide-ranging projects<\/h2>\n

CIM Group\u2019s recent acquisitions and current developments are varied. In February, CCIT II, a non-listed REIT managed by CIM Group, acquired an office building in Hunt Valley, Md.<\/a>, from its original developer, Greenfield Partners. The purchase price of $39.1 million won CIM a five-story, 134,455-square-foot Class A property occupied by a single tenant.<\/p>\n

In March, the company broke ground on what is intended to eventually be a 2.7GW solar project<\/a>. Westlands Solar Park will cover more than 20,000 acres in California\u2019s Fresno and Kings counties. And just days ago, CIM Group agreed to buy a large Los Angeles mall, the 869,000-square-foot, 40-acre Baldwin Hills Crenshaw Plaza. The company reportedly might take advantage of the pre-pandemic vacancies of two former anchor spaces (Sears and Walmart) to redevelop that part of the mall as office space.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new closed-end interval fund will pursue both real estate\/infrastructure and commercial real estate credit investments. <\/p>\n","protected":false},"author":882,"featured_media":1004267588,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,23891,21742],"tags":[33194,49333,36212],"class_list":["post-1004430898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-national","category-latest","tag-cim-group","tag-david-thompson","tag-greenfield-partners"],"acf":[],"yoast_head":"\nCIM Group Launches New Fund - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cim-group-launches-new-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIM Group Launches New Fund\" \/>\n<meta property=\"og:description\" content=\"The new closed-end interval fund will pursue both real estate\/infrastructure and commercial real estate credit investments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cim-group-launches-new-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-05T12:21:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T15:53:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/09\/financing-news-02b.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-launches-new-fund\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cim-group-launches-new-fund\/\",\"name\":\"CIM Group Launches New Fund - 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