CIM Opportunity Zone Fund, L.P. 8-K

What Happened
CIM Opportunity Zone Fund, L.P. disclosed on June 23, 2026 (agreement dated June 16, 2026) that indirect subsidiaries (Westlands Grape, LLC and Westlands Grape LandCo, LLC) entered into a Financing Agreement to establish senior secured credit facilities to fund the Westlands Grape Project. The lenders include several banks with Wells Fargo Bank, N.A. as administrative agent and Truist Bank as collateral agent. The facilities support development, construction, operation and certain reserves and costs for an approximately 246.4 MWac solar photovoltaic plant and a 150 MWac / 600 MWh battery energy storage system in Kings County, California.

Key Details

• Total stated capacity of facilities: construction loan up to $372,246,148.11; bridge loan up to $166,727,948.49; term loan up to $372,246,148.11; letters of credit up to $61,273,527.93 — aggregate capacity shown ≈ $972.5M.
• Bridge loan proceeds are expected to be repaid primarily with proceeds from the transfer of investment tax credits under IRC Section 6418; interest rate options reference SOFR or a base rate plus margin; interest-rate hedges were entered on the effective date.
• Security package includes first‑priority pledges of project assets, membership interest pledges and guarantees by HoldCo and parent entities, real estate security documents, sponsor guarantees, and account control agreements.
• The Fund has not guaranteed the Borrowers’ obligations; recourse is generally limited to the Borrowers, the Parent Pledgor, the Sponsor and the collateral pledged.

Why It Matters
This financing is the principal development and construction funding for a large solar-plus-storage project the Fund holds indirectly. Having committed senior secured credit facilities and a comprehensive security package helps provide the project the capital needed to reach construction and commercial operation. Importantly for investors, the Fund itself did not guarantee the loans, so direct recourse to the Fund is limited; however, sponsor and parent-level guarantees and extensive collateral secure the lenders’ positions.