CIM Opportunity Zone Fund, L.P.

CIK:0001765107|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues [Abstract]
Solar revenue	$ 26,231	$ 17,011	$ 43,906	$ 30,364
Rental and other property income	16,265	9,013	30,062	18,187
Total Revenues	42,496	26,024	73,968	48,551
Costs and Expenses [Abstract]
Solar and property operating expense	20,817	8,700	42,344	18,278
Management fees to related party	11,684	10,310	23,282	20,535
Expense reimbursement to related parties	2,130	683	3,413	1,780
Interest expense and other	7,247	3,075	16,224	6,181
General and administrative expense	3,911	2,259	8,695	4,774
Depreciation, amortization, and accretion expense, net	19,316	10,457	36,679	21,488
Real estate tax	2,786	1,441	5,082	2,803
Total Expenses	67,891	36,925	135,719	75,839
Other income (expense):
Other (expense) income	(3,543)	2,682	(3,543)	2,682
Interest income	6,115	7,074	12,521	11,391
Realized gain on net investment in lease	0	0	0	117,364
Gain on investments in unconsolidated entities	0	2,229	0	1,622
Change in fair value of notes payable	419	(2)	136	(538)
Total other income	2,991	11,983	9,114	132,521
Net (loss) income	(22,404)	1,082	(52,637)	105,233
Net income (loss) attributable to non-controlling interests	344	445	(773)	14,729
Net (loss) income attributable to CIM Opportunity Zone Fund, L.P.	$ (22,748)	$ 637	$ (51,864)	$ 90,504

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (52,637)	$ 105,233
Adjustments to reconcile net (loss) income to net cash used in operating activities
Depreciation, amortization, and accretion expense, net	35,467	19,760
Straight-line rent	239	215
Amortization of right-of-use asset	220	398
Gain on Epic Merger	0	(2,673)
Amortization of deferred financing costs	2,296	44
Realized gain on net investment in lease	0	(117,364)
Gain on investments in unconsolidated entities	0	(1,622)
Change in fair value of notes payable	(136)	538
Return on investment in unconsolidated entities	0	709
Changes in operating assets and liabilities:
Prepaid expenses and other assets	(2,370)	(3,049)
Accounts payable and accrued expenses	(3,441)	(1,960)
Lease liabilities	427	249
Due to related party	1,938	1,410
Due from related party	(1,039)	(221)
Lease receivable	1,510	1,134
Prepaid rent and other liabilities	3,701	(1,244)
Accounts receivable, net	(7,860)	(2,095)
Net Cash Used In Operating Activities	(21,685)	(538)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to investments in real estate	(240,164)	(99,772)
Net Cash Used In Investing Activities	(240,164)	(99,772)
CASH FLOWS FROM FINANCING ACTIVITIES
Capital contributions received	34,933	23,530
Distributions and redemptions paid	(73,590)	(8,936)
Notes payable borrowing	238,920	0
Repayment of notes payable	(22,244)	(17,557)
Deferred financing costs paid	(22,703)	(900)
Net Cash Provided by (Used In) Financing Activities	155,316	(3,863)
NET CHANGE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(106,533)	(104,173)
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Beginning Balance	421,334	340,642
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Ending Balance	314,801	236,469
Cash and cash equivalents	216,511	205,091
Restricted cash	98,290	31,378
Total cash and cash equivalents and restricted cash	$ 314,801	$ 236,469

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Real estate assets
Land	$ 280,482	$ 277,301
Building and improvements	960,753	925,552
Solar facilities	1,287,978	1,266,106
Intangible assets	16,790	16,580
Real estate and solar facilities under development	641,400	276,549
Total investments in real estate	3,187,403	2,762,088
Accumulated depreciation and amortization	(153,062)	(119,556)
Total investments in real estate and solar facilities, net	3,034,341	2,642,532
Cash and cash equivalents	216,511	245,899
Restricted cash	98,290	175,435
Accounts receivable, net	47,468	39,847
Due from related party	1,139	100
Net investment in lease	215,978	217,488
Right of use asset	31,336	31,556
Prepaid expenses and other assets	96,727	138,771
Total Assets	3,741,790	3,491,628
LIABILITIES
Notes payable, at fair value	708,891	512,758
Accounts payable and accrued expenses	192,148	79,621
Prepaid rent and other liabilities	6,887	3,186
Lease liability	36,684	36,257
Intangible liabilities, net	28,329	29,576
Asset retirement obligations	27,977	0
Due to related party	9,729	7,791
Distributions and redemptions payable	13,399	3,179
Total Liabilities	1,024,044	672,368
COMMITMENTS AND CONTINGENCIES (NOTE 9)
REDEEMABLE PARTNERS’ CAPITAL: 1,867,711 and 1,893,099 limited partnership units issued and outstanding as of June 30, 2026 and December 31, 2025	2,581,365	2,629,868
PARTNERS’ CAPITAL
GENERAL PARTNER: 562 and 563 limited partnership units issued and outstanding as of June 30, 2026 and December 31, 2025	924	942
Additional paid-in capital	187,586	187,586
Retained earnings (deficit)	(709,743)	(657,872)
Total partners’ capital excluding noncontrolling interests	(521,233)	(469,344)
Non-controlling interests	657,614	658,736
Total Partners’ Capital	136,381	189,392
TOTAL LIABILITIES, REDEEMABLE PARTNERS’ CAPITAL AND PARTNERS’ CAPITAL	$ 3,741,790	$ 3,491,628