Cima Investment Group announces the launch of the Cima Apex Opportunity Fund I, a new investment vehicle designed to acquire non-performing loans and deeply discounted bank-owned real estate during what the firm calls a "once-in-a-decade buying opportunity."

The fund launches amid historic market dislocation. Nearly $769 billion in commercial and multifamily loans are maturing in 2026, while elevated interest rates, tightening credit standards, and stalled rent growth have left many borrowers unable to refinance. CMBS delinquency rates have surged to 6.65%—up nearly 200 basis points year-over-year—with office, retail, and lodging sectors under particular stress.

"We're in a refinancing dead zone," said Jonathan Judd, CEO of Cima Investment Group. "Rates are near 7%, capital markets have pulled back, and hundreds of billions in loans are coming due with nowhere to go. Banks are sitting on distressed paper they need to move. That's exactly the environment this fund was built for."

The Apex Opportunity Fund targets well-collateralized non-performing loans across commercial real estate, single-family residential, and senior housing—acquiring notes at substantial discounts to face value and underlying collateral. The strategy offers what Cima describes as "equity-level returns with debt-level risk": because the fund purchases notes already in default at steep discounts, investors benefit from secured, first-lien positions while capturing upside through loan workouts, settlements, or foreclosure and asset disposition.

"Most investors think you have to choose between safety and return," Judd added. "Distressed debt breaks that tradeoff. We're buying real estate at 50-60 cents on the dollar through the debt stack, with multiple paths to value creation. If the borrower pays, we win. If we foreclose, we own the asset at basis well below market. Either way, we're protected."

The fund is diversified across CRE, SFR, and senior housing notes, leveraging Cima's proprietary data platform to identify distressed loans before they hit auction, and its network of 2,000+ institutional partnerships with banks, servicers, and attorneys to secure off-market pricing.

About Cima Investment Group

Cima Investment Group is a vertically integrated real estate investment firm focused on senior housing, multifamily, and distressed debt. The company combines institutional investment discipline with hands-on operational execution, leveraging its operating platform—Cima Senior Living—to drive value creation across its portfolio. With a leadership team that has collectively managed over $10 billion in real estate holdings, Cima is positioned to capitalize on market dislocation and deliver strong risk-adjusted returns for its investor partners.