CIM GROUP, INC.

$400m committed across 2 active facilities, next covenant test Sep 30, 2026. CMRF

Real Estate Investment Trusts

Recent changes

  1. Aug 14, 2026CIM GROUP, INC. signs $150m NOTE PURCHASE AGREEMENT, matures Aug 2029SEC ↗
  2. Aug 14, 2026CIM GROUP, INC. signs $250m REVOLVING CREDIT AGREEMENT, matures Mar 2028SEC ↗
  3. Aug 14, 2026CIM GROUP, INC. extends maturity to 2028-03-28SEC ↗
  4. Aug 14, 2026CIM GROUP, INC. files amendment to REVOLVING CREDIT AGREEMENTSEC ↗
  5. Aug 14, 2026CIM GROUP, INC. files amendment to REVOLVING CREDIT AGREEMENTSEC ↗
Tested quarterlyHeadroom not yet measured3.50x

Equity cure available.

The Company will not permit the ratio of (i) Consolidated Net Funded Indebtedness as of the end of any fiscal quarter of the Company to (ii) Consolidated Adjusted EBITDA (such ratio, the “Consolidated Net Leverage Ratio”) for the period of four consecutive fiscal quarters ended on such date to be greater than 3.50 to 1.00
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured10,616,900,000
The Company will not permit, as of the end of any fiscal quarter, the Fee Earning Equity Owned and Operated to be less than $10,616,900,000.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured3.50x

Equity cure available.

Borrower will not permit the ratio of (i) Consolidated Net Funded Indebtedness as of the end of any fiscal quarter of Borrower to (ii) Consolidated Adjusted EBITDA ... to be greater than 3.50 to 1.00.
Read the filing on sec.gov ↗
Tested quarterlyHeadroom not yet measured10,616,900,000
Borrower will not permit, as of the end of any fiscal quarter, the Fee Earning Equity Owned and Operated to be less than $10,616,900,000.
Read the filing on sec.gov ↗

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REVOLVING CREDIT AGREEMENT

Signed Dec 30, 2022

Committed
$250m
Matures
Mar 2028
TrancheSizeMaturesMargin
Revolving Credit$250mMar 2028n/a

Priced over Term SOFR, floor 0 bps (Revolving credit facility).

§1.1

Lenders: City National Bank

NOTE PURCHASE AGREEMENT

Signed Aug 30, 2022

Committed
$150m
Matures
Aug 2029
Agent
Not stated
TrancheSizeMaturesMargin
6.42% Series A Senior Notes$50mAug 2029n/a
6.50% Series B Senior Notes$75mAug 2032n/a
6.75% Series C Senior Notes$25mAug 2034n/a
  1. Mar 28, 2025

    Amendment

    Amends the revolver to increase the aggregate commitments to $250,000,000 and extend the maturity to March 28, 2028. It also revises the accordion capacity to $50,000,000 and sets the Swing Line Maximum Amount formula with a cap of $50,000,000.
    • revolver_commitment: n/a → 250000000 §2(b); Definition “Revolving Credit Aggregate Commitment”
    • maturity_date: n/a → 2028-03-28 §Definition “Maturity Date”
    • commitment_increase_cap: n/a → 50000000 §Section 2.13(a)
    • swingline_cap: n/a → 50000000 §Definition “Swing Line Maximum Amount”
    Filing ↗
  2. Jan 27, 2023

    Amendment

    Adds Comerica Bank as a new Lender and increases the unsecured revolving credit facility by $25,000,000 to a total of $175,000,000. Also updates the Swing Line Maximum Amount and revises a reference in Section 2.13(a) to reflect the $25,000,000 increase effective January 27, 2023.
    • commitment_increase_amount: $50,000,00 → 25000000 §Section 3(a)(iii)
    Filing ↗
  3. Jan 24, 2023

    Amendment

    The amendment upsizes the unsecured revolving credit facility to $150,000,000 and adds Truist Bank as a new lender. It also increases the Swing Line sublimit to $56,250,000 and reduces the future commitment increase (accordion) capacity to $50,000,000, while updating the fee letter and administrative roles.
    Filing ↗
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