Penn Field

CMCT principally owns and operates Class A and creative office assets in vibrant and improving metropolitan communities with a high barrier to entry.

Key characteristics of CMCT include:

  • Institutional Manager
    CMCT is managed by CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer. 

    CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and property management experience across all types of real estate and infrastructure. 

    Since 1994, CIM has led more than $60 billion of projects in Chicago, Los Angeles, Austin, New York and other major metropolitan markets across the Americas.
     
  • High-Quality Portfolio
    CMCT’s portfolio includes Class A and creative office properties as well as hotel and ancillary properties. 
     
  • Embedded Growth Opportunity in Key Markets
    CMCT’s portfolio is focused in high-growth markets including Los Angeles; Austin, Texas; and the San Francisco Bay Area. 
    These markets are home to a variety of companies in expanding industries -- including tech, media and entertainment -- and educated, affluent populations. Demand for office space is significant1 with a high barrier to entry. CMCT’s assets are well-positioned to support the needs of these growing communities while creating value for stakeholders.
     
  • External Growth Opportunity
    CMCT has the potential to generate value through acquisitions sourced off-market as well as select redevelopment and build-to-suit opportunities. 
     
  • Prudent Capital Structure
    CMCT has an equity-enhancing, growth-oriented capital structure that includes prudent leverage and a target of 45% common equity and 55% debt and preferred equity. 

1) Austin: Statesman, Office Boom: Rents hit record high as Austin-area market surges, April 18, 2019. Los Angeles: Colliers, 2019 Q3 Greater Los Angeles Basin Office Knowledge Report, October 15, 2019. Bay Area: San Francisco Business Times, Why the Bay Area retains the title of nation’s top office market, December 3, 2019
 

CMCT is operated by CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and property management experience across all types of real estate and infrastructure. CIM has led more than $60 billion of projects in communities across the Americas since 1994.  CIM’s work has included projects in Downtown Los Angeles, Hollywood Boulevard, Downtown Oakland, Seaholm District in Austin, the Greater Loop in Chicago and the Flatiron District in New York.

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