CIM's Core/Stabilized platform utilizes a private real estate investment trust (REIT) structure. Frequently, this platform works in conjunction with CIM Opportunity Funds by investing in established operating properties in communities that CIM has qualified. The maximum stabilized equity investment in a single transaction is $450 million.
An example of CIM's Core/Stablized investments is the office portfolio it acquired in 2008 consisting of five established, institutional-quality Class A office properties totaling 1.7 million square feet in Oakland’s Lake Merritt and City Center districts. The properties, purchased from Brandywine Realty Trust, advanced CIM’s Oakland investment program which launched in June 2007 with the acquisition of the Oakland City Center Marriott and the Courtyard Oakland Downtown. Within one year of the acquisition, CIM renewed a long-term lease for the corporate headquarters of a leading California healthcare provider, Kaiser Permanente, and also secured a new long-term lease with Walgreens at the Ordway Building. The four other properties included in this investment include 1333 Broadway, 1901 Harrison, as well as 2100 Franklin and 2101 Webster, also known as Center 21.