CIM Group Originates More Than $2 Billion in Commercial Real Estate Loans In 2020 | Business
LOS ANGELES – (BUSINESS WIRE) – February 2, 2021–
CIM Group, a community-focused real estate and infrastructure owner, operator, lender, and developer, announced today that it will have approximately $ 2.2 billion in commercial real estate loans in 2020 through its CIM Real Estate Credit Strategies business. USD. CIM Group has issued mortgage, mezzanine, bridge, value-added and construction loans valued at approximately $ 50 million to $ 500 million on a variety of commercial real estate assets, including residential, office, industrial and hotel loans in the major ones Metropolitan areas and suburbs of the USA
“In recent years, the CIM Group has increased its available resources and capital for lending, strategically deploying this capital across the entire capital stack and across different asset types. When COVID-19 hit, our loan portfolio had low leverage and was in a great position to be a resource for borrowers. With over 25 years of operational expertise and experience in real estate lending, we have been able to write risk efficiently despite market uncertainty and offer borrowers flexible financial solutions that enable them to advance and execute their business plans, ”said Avi Shemesh, Co-Founder and Principal, CIM Group.
CIM Group’s lending platform offers $ 50 million to $ 500 million in commercial real estate loans in primary and secondary MSAs. The company’s experience with all types of commercial property enables its team to analyze not only traditional asset classes such as office, residential, retail, industrial and hotel properties, but also niche property types such as data centers, parking lots, special projects and eligible land. Through senior and subordinated financing, CIMs Real Estate Credit Strategies provides bridge and mortgage lending and works with borrowers to offer a range of credit solutions.
CIM Group maintained an active loan program throughout 2020 with significant post-COVID-19 origins including: a $ 105.5 million loan to build X Denver 3.0, a residential community with supporting office and residential space Downtown Denver Retail Components; a $ 190 million bridging loan in International Plaza I / II, a two-building, 780,000-square-foot office building in Dallas; and a $ 60 million bridging loan to purchase 53 hectares of industrial land on Staten Island, New York.
The CIM Group is an active lender with offices across the country and a presence in more than 135 submarkets in North America. This is a solid foundation for their expanding local debt platform. Further information is available at www.cimgroup.com/crecs.
CIM is a community-focused owner, operator, lender, and developer of real estate and infrastructure. Since 1994, CIM has sought to add value to projects and make a positive impact on the lives of people in communities across America by delivering over $ 60 billion worth of major real estate and infrastructure projects. The diverse team of experts at CIM applies its broad knowledge and disciplined approach through the practical management of real assets from due diligence to operation through disposition. CIM strives to make a meaningful difference in the world by implementing key environmental, social and governance (ESG) initiatives and improving every community it invests in. Further information is available at www.cimgroup.com.
KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
KEY WORD IN INDUSTRY: PROFESSIONAL SERVICES RESIDENTIAL AND REAL ESTATE COMMERCIAL BUILDING AND REAL ESTATE FINANCIAL CONSTRUCTION AND REAL ESTATE
Copyright Business Wire 2021.
PUB: 02/02/2021 10:00 AM / DISC: 02/02/2021 10:01 AM
Copyright Business Wire 2021.