AP NEWS

CIM Group Expands Focus on Opportunity Zones

January 23, 2019

LOS ANGELES--(BUSINESS WIRE)--Jan 23, 2019--CIM Group announced today that it is expanding its focus on investing in Opportunity Zones, as defined under the 2017 Tax Cuts and Jobs Act. This Act provides certain tax advantages for investors who substantially improve assets in these designated Opportunity Zones.

Since its inception 25 years ago, CIM sought to focus on identifying densely-populated communities where it could invest and bring needed real estate and infrastructure projects to improve the experience of the people in the communities. CIM has been investing in Opportunity Zones as a prudent investment strategy long before these areas were considered Opportunity Zones. The Act offers the potential to qualify for added tax benefits from new Opportunity Zone investments in areas in which CIM has already targeted and has been actively developing, repositioning, and operating properties.

Key to maximizing the advantages of the Act’s Opportunity Zone program is the ability to quickly and prudently invest capital. With 65 of CIM’s Qualified Communities already located in Opportunity Zones and having owned, developed, repositioned and operated more than 50 investments in Opportunity Zones, the company is well-positioned with specific market knowledge and vertically-integrated investment, development, and property management teams in place.

CIM currently controls more than $3 billion in assets in areas considered Opportunity Zones, and since 1994, it has invested in properties located in more than 40 Opportunity Zones throughout the country. CIM’s long-standing community-based approach directly aligns with the underlying goals of driving real estate improvements and bringing new businesses to Opportunity Zones.

CIM’s investment strategy primarily targets a “build-to-core” model, where the company leverages its in-house investments, development, and property management teams, which source, develop or reposition, then operate properties as stabilized assets.

ABOUT CIM GROUP

CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $60 billion of projects in communities across the Americas on behalf of its own account and for its partners and co-investors. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and property management experience in real assets located in and serving densely-populated communities, net-lease assets and other associated credit strategies. CIM proprietary five-point “Qualified Community” process identifies communities in transitional and thriving areas that are most likely to benefit from its development, repositioning, and operating activities. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit  www.cimgroup.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190123005714/en/

CONTACT: Media:

Karen Diehl

Diehl Communications

(310) 741-9097

karen@diehlcommunications.com

Bill Mendel

Mendel Communications

(212) 397-1030

bill@mendelcommunications.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY

SOURCE: CIM Group

Copyright Business Wire 2019.

PUB: 01/23/2019 01:39 PM/DISC: 01/23/2019 01:39 PM

http://www.businesswire.com/news/home/20190123005714/en

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