Japanese firm snags 20 percent stake in CIM

Mitsui will contribute $450-500M to funds managed by firm

From left: Tatsuo Yasunaga and Avi Shemesh
From left: Tatsuo Yasunaga and Avi Shemesh

UPDATED, Feb. 20, 5:13 p.m.: Japanese trading conglomerate Mitsui & Co. will acquire a 20 percent stake in Los Angeles-based real estate investment firm CIM Group, it announced Monday.

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Mitsui (Note: Correction appended) will also contribute between $450 and $550 million toward funds managed by CIM, it said. The two firms have established a dedicated investment vehicle to manage those funds, known as Sabre Investments LLC. [more]