$385 Million of Commercial Real Estate Loans Closed Since On-Set of COVID-19 Pandemic
CIM Group, a community-focused real estate and infrastructure owner, operator, lender, and developer announced today that it has closed a $190 million bridge loan provided to Taconic Capital Advisors, the owner of International Plaza I & II, a 780,000-square-foot Class A office complex located in the Far North Dallas district. International Plaza I & II includes two office towers anchored by two long-term tenants, Tenant Healthcare (NYSE: THC) and Trinity Industries (NYSE: TRN).
CIM is an active lender, and recently announced the closing of a $95.6 million mortgage loan secured by Galleria Corporate Center, a 546,000-square-foot creative office building and adjacent 10-story parking garage, located in Scottsdale, Arizona. In April, CIM provided a $100 million short-term liquidity facility secured by a portfolio of real estate assets in the Los Angeles area to provide short-term working capital to the borrower.
As an owner, operator, lender and developer of commercial properties, in addition to mortgage and mezzanine loans, CIM also provides bridge, construction and repositioning loans to owners and developers of commercial real estate in major markets across the United States, and works with borrowers to offer an array of financing solutions secured, directly or indirectly, by real estate.
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
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