Search
 

Bay Area Investments Sought By CIM Group

SAN FRANCISCO-The Los Angeles-based urban renaissance investor is looking at one project in San Francisco and four or five in Oakland, says Avi Shemesh, the company's principal and co-founder. The firm plans to open a Northern California office soon.

By Marsha Trent | Updated on April 26, 2001

SAN FRANCISCO-One of the leaders in California’s urban renaissance, CIM Group, a full service real estate investment and management firm, is looking at several significant projects in the Bay Area for its California Urban Real Estate Fund .

CIM is looking at one project in San Francisco and four or five in Oakland, according to Avi Shemesh, principal and co-founder of CIM Group. The Los Angeles based firm plans to open a Northern California office in the near future, Shemesh added.

First closings of about $180 million in commitments for the California Urban Real Estate Fund were just announced. The California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS) committed $125 million and $45 million respectively. The projected $400 million fund to provide equity financing to projects in underserved urban areas is slated for final closing on July 1.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.