CIM Opportunity Zone Fund, L.P. is a private real estate and infrastructure investment fund focused on opportunities within designated Opportunity Zones across the United States.

# CIM Opportunity Zone Fund, L.P. Summary

## Business Overview
- **Type:** Investment fund organized as a perpetual open-ended partnership
- **Founded:** 2019
- **Primary Focus:** Investing in infrastructure and real estate in the United States, specifically within designated Opportunity Zones
- **Objective:** Generate returns through capital appreciation and operating income from assets after development or redevelopment
- **Qualification:** Aims to qualify as a “qualified opportunity fund” under Section 1400Z-2 of the Internal Revenue Code

## Investment Strategy
- **Target Areas:** Metropolitan markets across the U.S., with a focus on “Qualified Communities” and Opportunity Zones
- **Activities:** Acquisition, ownership, development, redevelopment, and operation of diversified real estate and infrastructure assets
- **Asset Types:** Residential, commercial, retail, hospitality, debt, infrastructure, and assets in low-income communities
- **Portfolio:** As of December 31, 2024
  - **Number of assets:** 22 properties
  - **Carrying value:** $1.9 billion
- **Development Focus:** Build-to-core programs to maximize long-term value, with active management and repositioning

## Assets and Properties (as of Dec 31, 2024)
- **Operational Assets Include:**
  - Community solar energy plants
  - Office buildings
  - Multifamily residential units
  - Energy transmission facilities
- **Construction/Development Assets Include:**
  - Office, hotel, multifamily, retail, and renewable energy projects
  - Examples:
    - Multiple residential developments in Los Angeles, CA, and Atlanta, GA
    - Several solar energy projects in California
    - Office spaces in Los Angeles, Dallas, and other cities
    - Hotels and multifamily developments under construction in Los Angeles and Atlanta

## Employment and Management
- **Employees:** Over 1,000 employees at CIM, including over 600 professionals
- **Senior Management:** Led by founding principals with over 30 years of experience
- **Offices:** Los Angeles (headquarters), Atlanta, Chicago, Dallas, New York, Orlando, Phoenix, London, Tokyo

## Revenue and Income
- **Revenue:** Not explicitly reported in the provided document
- **Net Assets (as of December 31, 2024):** $1.9 billion
- **Unfunded Capital Commitments:** Majority of investments made; redemptions and liquidity events planned for long-term

## Other Key Details
- **Target Investors:** Accredited investors with minimum commitments of $5 million
- **Market Presence:** No public trading for Units; listed on exempt secondary markets
- **Fund Status:** Emerging growth and smaller reporting company under SEC rules
- **Principal Risks:** Real estate and infrastructure market risks, regulatory changes, environmental liabilities, development delays, and operational risks

## Summary
The CIM Opportunity Zone Fund, L.P. is a real estate and infrastructure investment vehicle focusing on projects within Opportunity Zones. It develops, redevelops, and manages a diversified portfolio of properties across the U.S., with a strategic emphasis on community engagement and disciplined underwriting. As of December 2024, the fund holds 22 assets worth approximately $1.9 billion, and employs a large team of over 1,000 professionals globally. The fund operates privately, with no public market trading, and plans to hold assets long-term to maximize opportunity zone tax benefits for investors.

CIM Opportunity Zone Fund, L.P. is a perpetual life, open-ended investment fund focused on investing in infrastructure and real estate within designated Opportunity Zones in the U.S., aiming to generate returns through capital appreciation and operating income.

# CIM Opportunity Zone Fund, L.P. Overview

**Establishment and Structure**
- **Founded:** 2019
- **Type:** Perpetual life, open-ended investment fund
- **General Partner:** CIM Opportunity Zone Fund GP, LLC, an affiliate of CIM Group, LLC.
- **Investment Focus:** The Fund invests in infrastructure and real estate, particularly in Opportunity Zones designated as low-income communities in the U.S., as defined under Section 1400Z-1 of the Internal Revenue Code.

**Investment Objectives**
- **Primary Goal:** Generate returns through capital appreciation and operating income once development of real estate and infrastructure assets is complete.
- **Qualified Opportunity Fund:** The Fund aims to qualify as a "qualified opportunity fund" to leverage associated tax benefits for investors, which include deferrals on capital gains and potential exclusions of gains from federal income tax if held for a specified period.

**Team and Expertise**
- **Employee Count:** Over 1,000 employees.
- **Management Team:** Led by 17 Principals averaging 25 years of real asset experience.
- **Vertical Integration:** CIM's team covers research, acquisitions, credit analysis, development, finance, leasing, and on-site property management.

**Investments**
- **Portfolio Diversification:** As of December 31, 2023, the Fund has invested in 19 assets, with a net book value of $1.8 billion. This includes various property types such as solar energy plants, office spaces, multifamily units, and hotel assets.
- **Occupancy Rates:** Ranges from 84% to 100% for residential and commercial properties, indicating strong demand.
- **Acquisition Criteria:** Focused on markets with positive demographic trends, high barriers to entry, and strong public support for development.

**Customers and Revenue**
- **Customer Base:** The Fund's customers include municipalities, private companies, tenants in leased spaces, and utility companies (for renewable energy projects).
- **Revenue Generation:** Revenue sources include lease agreements for office spaces, residential units, and energy sales from solar plants, with specific agreements for long-term power purchase contracts.

**Financial Metrics (As of December 31, 2023)**
- **Assets Owned and Operated (AOO):** Approximately $30.7 billion.
- **Invested Assets:** $1.8 billion across a diverse portfolio.
- **Challenging Environment:** The Fund may face economic uncertainties affecting property valuations and revenue streams, particularly from its investments in infrastructure and real estate in urban centers.

**Investment Strategy and Process**
- **Community Engagement:** CIM's strategy emphasizes strong community ties and local market knowledge, with a focus on sourcing off-market opportunities.
- **Disciplined Underwriting:** Investments are evaluated using multiple scenarios to assess potential returns and risks. 

**Risk and Compliance**
- **Regulatory Landscape:** The Fund is subject to extensive regulations under the 1940 Investment Company Act and must adhere to evolving fiscal policies and tax laws.
- **Cybersecurity Measures:** Robust IT and cybersecurity practices are in place, with staff training and ongoing risk assessments to mitigate potential threats.

Overall, CIM Opportunity Zone Fund, L.P. positions itself as a significant player in the real estate and infrastructure investment sectors, focusing on urban development opportunities within designated Opportunity Zones to provide economically and socially beneficial projects while optimizing investment returns for its Limited Partners.

CIM Opportunity Zone Fund, L.P.

10-K / March 31, 2025

10-K / April 22, 2024

10-K / March 31, 2025

CIM Opportunity Zone Fund, L.P. Summary

Business Overview

Investment Strategy

Assets and Properties (as of Dec 31, 2024)

Employment and Management

Revenue and Income

Other Key Details

Summary