Mitsui & Co. is investing $450 million to $550 million for a 20% stake in real estate and infrastructure manager CIM Group, confirmed Bill Mendel, CIM spokesman.
Mitsui will commit capital to “multiple” CIM funds, according to a news release. Proceeds from Mitsui's investment will be used to fund CIM's continued growth. Mitsui is a diversified company whose businesses include logistics and financing, and infrastructure development.
“We are excited to partner with Mitsui to position CIM to be the first choice for Japanese investors interested in real estate and infrastructure investments in North America,” said Avi Shemesh, co-founder and principal of CIM Group.
CIM executives declined to provide information beyond the contents of the news release, Mr. Mendel said.