cim group believes that a vast majority of the risks associated with acquiring real estate are mitigated by accumulating local market knowledge of the community where the asset is located . cim group typically spends significant time and resources qualifying targeted communities prior to making any acquisitions . since 1994 , cim group has qualified 122 communities and has deployed capital in 72 of these qualified communities . although we may not deploy capital exclusively in qualified communities , it is expected that most of our assets will be identified through this systematic process . cim group seeks to maximize the value of its holdings through active onsite property management and leasing . cim group has extensive in-house research , acquisition , credit analysis , development , financing , leasing and onsite property 70 management capabilities , which leverage its deep understanding of metropolitan communities to position properties for multiple uses and to maximize operating income . as a vertically-integrated owner and operator , cim group has in-house onsite property management and leasing capabilities . property managers prepare annual capital and operating budgets and monthly operating reports , monitor results and oversee vendor services , maintenance and capital improvement schedules . in addition , they ensure that revenue objectives are met , lease terms are followed , receivables are collected , preventative maintenance programs are implemented , vendors are evaluated and expenses are controlled . cim group 's real assets management committee reviews and approves strategic plans for each asset , including financial , leasing , marketing , property positioning and disposition plans . in addition , the real assets management committee reviews and approves the annual business plan for each property , including its capital and operating budget . cim group 's organizational structure provides for continuity through multi-disciplinary teams responsible for an asset from the time of the original investment recommendation , through the implementation of the asset 's business plan , and any disposition activities . cim group 's investments and development teams are separate groups that work very closely together on transactions requiring development expertise . while the investments team is responsible for acquisition analysis , both the investments and development teams perform the due diligence , evaluate and determine underwriting assumptions and participate in the development management and ongoing asset management of cim group 's opportunistic assets . the development team is also responsible for the oversight and or execution of securing entitlements and the development/repositioning process . in instances where cim group is not the lead developer , cim group 's in-house development team continues to provide development and construction oversight to co-sponsors through a shadow team that oversees the progress of the development from beginning to end to ensure adherence to the budgets , schedules , quality and scope of the project to maintain cim group 's vision for the final product . the investments and development teams interact as a cohesive team when sourcing , underwriting , acquiring , executing and managing the business plan of an opportunistic acquisition . we seek to utilize the cim group platform to acquire , improve and develop real estate assets within cim group 's qualified communities . we believe that these assets will provide greater returns than similar assets in other markets , as a result of the population growth , public commitment , and significant private investment that characterize these areas . over time , we seek to expand our real estate assets in communities targeted by cim group , supported by cim group 's broad real estate capabilities , as part of our plan to prudently grow market value and earnings . as a matter of prudent management , we also regularly evaluate each asset within our portfolio as well as our strategies . such review may result in dispositions when an asset no longer fits our overall objectives or strategies or when our view of the market value of such asset is equal to or exceeds its intrinsic value . as a result of such review , we sold two hotels in 2016 ; six office properties , one parking garage , and five multifamily properties in 2017 ; and , in connection with the program to unlock embedded value in our portfolio and improve trading liquidity of our common stock , three office properties and one parking garage in oakland , california , one office property in washington , d.c. , and one office property in san francisco , california in march 2019. such review may result in additional dispositions from time to time . in 2016 and 2017 , we used a substantial portion of the net proceeds of such dispositions to provide liquidity to our common stockholders at prices reflecting our nav and cash flow prospects , and we expect to use a substantial portion of the net proceeds from the asset sale to do so in 2019. while we are principally focused on class a and creative office assets in vibrant and improving metropolitan communities throughout the united states ( including improving and developing such assets ) , we may also participate more actively in other cim group real estate strategies and product types in order to broaden our participation in cim group 's platform and capabilities for the benefit of all classes of stockholders . this may include , without limitation , engaging in real estate development activities as well as investing in other product types directly , side-by-side with one or more funds of cim group , through direct deployment of capital in a cim group real estate or debt fund , or deploying capital in or originating loans that are secured directly or indirectly by properties primarily located in qualified communities that meet our strategy . such loans may include limited and or non-recourse junior ( mezzanine , b-note or 2nd lien ) and senior acquisition , bridge or repositioning loans . story_separator_special_tag , and an increase from real estate tax refunds related to prior years received during the year ended december 31 , 2018 for the property in washington , d.c. that we sold in october 2017. the sale of three office properties and one parking garage in oakland , california , one office property in washington , d.c. , and one office property in san francisco , california , which were completed in march 2019 will , and the sale of any additional properties during 2019 would , cause office revenue to decline materially in 2019. however , the magnitude of any such decrease can not be predicted as it will depend on a number of factors such as the number and timing of such dispositions that may occur in 2019 , changes to revenue at existing properties , and any revenue increases from acquisitions . hotel revenue : hotel revenue increased to $ 38,789,000 , or by 0.5 % , for the year ended december 31 , 2018 compared to $ 38,585,000 for the year ended december 31 , 2017 . multifamily revenue : multifamily revenue of $ 13,566,000 for the year ended december 31 , 2017 was related to three multifamily properties in dallas , texas , which were sold in may and june 2017 , one multifamily property in new york , new york , which was sold in september 2017 , and one multifamily property in houston , texas , which was sold in december 2017. as a result of the aforementioned sales , there was no multifamily revenue during 2018. lending revenue : lending revenue represents revenue from our lending subsidiaries , including interest income on loans and other loan related fee income . lending revenue increased to $ 10,870,000 , or by 6.3 % , for the year ended december 31 , 2018 compared to $ 10,221,000 for the year ended december 31 , 2017 . the increase is primarily due to increases in the prime rate , an increase in the retained loan portfolio , and higher revenue resulting from the recognition of accretion for 76 discounts related to increased prepayments on our loans , partially offset by a decrease in premium income from the sale of the guaranteed portion of our sba 7 ( a ) loans and a decrease related to a break-up fee received during the year ended december 31 , 2017 . expenses office expenses : office expenses decreased to $ 57,258,000 , or by 17.9 % , for the year ended december 31 , 2018 compared to $ 69,782,000 for the year ended december 31 , 2017 . the decrease is primarily due to the sale of one office property in charlotte , north carolina in june 2017 , the sale of one office property and one parking garage in sacramento , california in june 2017 , the sale of two office properties in washington , d.c. in august and october 2017 , the sale of one office property in los angeles , california in september 2017 , a decrease in other tenant reimbursable expenses at one of our washington , d.c. properties , and a decrease in real estate taxes at certain california properties due to real estate tax refunds related to prior years , which were received during the year ended december 31 , 2018 , partially offset by the transfer of the right to collect supplemental real estate tax reimbursements which reduced real estate taxes at our office property in san francisco , california at the time of the property 's sale in march 2017 , an increase from the acquisition of one office property in san francisco , california in december 2017 , the acquisition of one office property in beverly hills , california in january 2018 , and an increase in operating expenses at certain of our california properties and at one of our washington , d.c. properties . the sale of three office properties and one parking garage in oakland , california , one office property in washington , d.c. , and one office property in san francisco , california , which were completed in march 2019 will , and the sale of any additional properties during 2019 would , cause office expenses to decline materially in 2019. however , the magnitude of any such decrease can not be predicted as it will depend on a number of factors such as the number and timing of such dispositions that may occur in 2019 , changes to expenses at existing properties , and any expense increases from acquisitions . hotel expenses : hotel expenses increased to $ 25,295,000 , or by 0.6 % , for the year ended december 31 , 2018 compared to $ 25,136,000 for the year ended december 31 , 2017 . multifamily expenses : multifamily expenses of $ 8,118,000 for the year ended december 31 , 2017 were related to three multifamily properties in dallas , texas , which were sold in may and june 2017 , one multifamily property in new york , new york , which was sold in september 2017 , and one multifamily property in houston , texas , which was sold in december 2017. as a result of the aforementioned sales , there were no multifamily expenses during 2018. lending expenses : lending expenses represent expenses from our lending subsidiaries , including general and administrative expenses and fees to related party , incurred in connection with the operation of the lending business . lending expenses increased to $ 5,714,000 , or by 16.9 % , for the year ended december 31 , 2018 compared to $ 4,888,000 for the year ended december 31 , 2017 . the increase is primarily due to interest expense that commenced in may 2018 as a result of the issuance of the sba 7 ( a ) loan-backed notes and an increase in interest expense in connection with our secured borrowings , partially offset by a decrease in payroll related

liquidity and capital resources sources and uses of funds in september 2014 , cim commercial entered into an $ 850,000,000 unsecured credit facility with a bank syndicate which consisted of a $ 450,000,000 revolver , a $ 325,000,000 term loan and a $ 75,000,000 delayed-draw term loan . outstanding advances under the revolver bore interest at ( i ) the base rate plus 0.20 % to 1.00 % or ( ii ) london interbank offered rate ( `` libor '' ) plus 1.20 % to 2.00 % , depending on the maximum consolidated leverage ratio . outstanding advances under the term loans bore interest at ( i ) the base rate plus 0.15 % to 0.95 % or ( ii ) libor plus 1.15 % to 1.95 % , depending on the maximum consolidated leverage ratio . at december 31 , 2017 , $ 0 was outstanding under the credit facility . the unsecured credit facility matured on september 30 , 2018 . 82 in may 2015 , cim commercial entered into an unsecured term loan facility with a bank syndicate pursuant to which cim commercial could borrow up to a maximum of $ 385,000,000 . outstanding advances under the term loan facility bore interest at ( i ) the base rate plus 0.60 % to 1.25 % or ( ii ) libor plus 1.60 % to 2.25 % , depending on the maximum consolidated leverage ratio . the term loan facility had a maturity date in may 2022. on november 2 , 2015 , $ 385,000,000 was drawn under the term loan facility . proceeds from the term loan facility were used to repay balances outstanding under our unsecured credit facility . on august 3 , 2017 , we repaid $ 65,000,000 of outstanding borrowings on our unsecured term loan facility . in connection with such paydown , we wrote off deferred loan costs of $ 601,000 and related accumulated amortization of $ 193,000 , a proportionate amount to the borrowings being repaid . additionally , on november 29 , 2017 , we repaid $ 150,000,000 of outstanding borrowings on our unsecured term loan facility .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources sources and uses of funds in september 2014 , cim commercial entered into an $ 850,000,000 unsecured credit facility with a bank syndicate which consisted of a $ 450,000,000 revolver , a $ 325,000,000 term loan and a $ 75,000,000 delayed-draw term loan . outstanding advances under the revolver bore interest at ( i ) the base rate plus 0.20 % to 1.00 % or ( ii ) london interbank offered rate ( `` libor '' ) plus 1.20 % to 2.00 % , depending on the maximum consolidated leverage ratio . outstanding advances under the term loans bore interest at ( i ) the base rate plus 0.15 % to 0.95 % or ( ii ) libor plus 1.15 % to 1.95 % , depending on the maximum consolidated leverage ratio . at december 31 , 2017 , $ 0 was outstanding under the credit facility . the unsecured credit facility matured on september 30 , 2018 . 82 in may 2015 , cim commercial entered into an unsecured term loan facility with a bank syndicate pursuant to which cim commercial could borrow up to a maximum of $ 385,000,000 . outstanding advances under the term loan facility bore interest at ( i ) the base rate plus 0.60 % to 1.25 % or ( ii ) libor plus 1.60 % to 2.25 % , depending on the maximum consolidated leverage ratio . the term loan facility had a maturity date in may 2022. on november 2 , 2015 , $ 385,000,000 was drawn under the term loan facility . proceeds from the term loan facility were used to repay balances outstanding under our unsecured credit facility . on august 3 , 2017 , we repaid $ 65,000,000 of outstanding borrowings on our unsecured term loan facility . in connection with such paydown , we wrote off deferred loan costs of $ 601,000 and related accumulated amortization of $ 193,000 , a proportionate amount to the borrowings being repaid . additionally , on november 29 , 2017 , we repaid $ 150,000,000 of outstanding borrowings on our unsecured term loan facility .
```    
 Suspicious Activity Report : cim group believes that a vast majority of the risks associated with acquiring real estate are mitigated by accumulating local market knowledge of the community where the asset is located . cim group typically spends significant time and resources qualifying targeted communities prior to making any acquisitions . since 1994 , cim group has qualified 122 communities and has deployed capital in 72 of these qualified communities . although we may not deploy capital exclusively in qualified communities , it is expected that most of our assets will be identified through this systematic process . cim group seeks to maximize the value of its holdings through active onsite property management and leasing . cim group has extensive in-house research , acquisition , credit analysis , development , financing , leasing and onsite property 70 management capabilities , which leverage its deep understanding of metropolitan communities to position properties for multiple uses and to maximize operating income . as a vertically-integrated owner and operator , cim group has in-house onsite property management and leasing capabilities . property managers prepare annual capital and operating budgets and monthly operating reports , monitor results and oversee vendor services , maintenance and capital improvement schedules . in addition , they ensure that revenue objectives are met , lease terms are followed , receivables are collected , preventative maintenance programs are implemented , vendors are evaluated and expenses are controlled . cim group 's real assets management committee reviews and approves strategic plans for each asset , including financial , leasing , marketing , property positioning and disposition plans . in addition , the real assets management committee reviews and approves the annual business plan for each property , including its capital and operating budget . cim group 's organizational structure provides for continuity through multi-disciplinary teams responsible for an asset from the time of the original investment recommendation , through the implementation of the asset 's business plan , and any disposition activities . cim group 's investments and development teams are separate groups that work very closely together on transactions requiring development expertise . while the investments team is responsible for acquisition analysis , both the investments and development teams perform the due diligence , evaluate and determine underwriting assumptions and participate in the development management and ongoing asset management of cim group 's opportunistic assets . the development team is also responsible for the oversight and or execution of securing entitlements and the development/repositioning process . in instances where cim group is not the lead developer , cim group 's in-house development team continues to provide development and construction oversight to co-sponsors through a shadow team that oversees the progress of the development from beginning to end to ensure adherence to the budgets , schedules , quality and scope of the project to maintain cim group 's vision for the final product . the investments and development teams interact as a cohesive team when sourcing , underwriting , acquiring , executing and managing the business plan of an opportunistic acquisition . we seek to utilize the cim group platform to acquire , improve and develop real estate assets within cim group 's qualified communities . we believe that these assets will provide greater returns than similar assets in other markets , as a result of the population growth , public commitment , and significant private investment that characterize these areas . over time , we seek to expand our real estate assets in communities targeted by cim group , supported by cim group 's broad real estate capabilities , as part of our plan to prudently grow market value and earnings . as a matter of prudent management , we also regularly evaluate each asset within our portfolio as well as our strategies . such review may result in dispositions when an asset no longer fits our overall objectives or strategies or when our view of the market value of such asset is equal to or exceeds its intrinsic value . as a result of such review , we sold two hotels in 2016 ; six office properties , one parking garage , and five multifamily properties in 2017 ; and , in connection with the program to unlock embedded value in our portfolio and improve trading liquidity of our common stock , three office properties and one parking garage in oakland , california , one office property in washington , d.c. , and one office property in san francisco , california in march 2019. such review may result in additional dispositions from time to time . in 2016 and 2017 , we used a substantial portion of the net proceeds of such dispositions to provide liquidity to our common stockholders at prices reflecting our nav and cash flow prospects , and we expect to use a substantial portion of the net proceeds from the asset sale to do so in 2019. while we are principally focused on class a and creative office assets in vibrant and improving metropolitan communities throughout the united states ( including improving and developing such assets ) , we may also participate more actively in other cim group real estate strategies and product types in order to broaden our participation in cim group 's platform and capabilities for the benefit of all classes of stockholders . this may include , without limitation , engaging in real estate development activities as well as investing in other product types directly , side-by-side with one or more funds of cim group , through direct deployment of capital in a cim group real estate or debt fund , or deploying capital in or originating loans that are secured directly or indirectly by properties primarily located in qualified communities that meet our strategy . such loans may include limited and or non-recourse junior ( mezzanine , b-note or 2nd lien ) and senior acquisition , bridge or repositioning loans . story_separator_special_tag , and an increase from real estate tax refunds related to prior years received during the year ended december 31 , 2018 for the property in washington , d.c. that we sold in october 2017. the sale of three office properties and one parking garage in oakland , california , one office property in washington , d.c. , and one office property in san francisco , california , which were completed in march 2019 will , and the sale of any additional properties during 2019 would , cause office revenue to decline materially in 2019. however , the magnitude of any such decrease can not be predicted as it will depend on a number of factors such as the number and timing of such dispositions that may occur in 2019 , changes to revenue at existing properties , and any revenue increases from acquisitions . hotel revenue : hotel revenue increased to $ 38,789,000 , or by 0.5 % , for the year ended december 31 , 2018 compared to $ 38,585,000 for the year ended december 31 , 2017 . multifamily revenue : multifamily revenue of $ 13,566,000 for the year ended december 31 , 2017 was related to three multifamily properties in dallas , texas , which were sold in may and june 2017 , one multifamily property in new york , new york , which was sold in september 2017 , and one multifamily property in houston , texas , which was sold in december 2017. as a result of the aforementioned sales , there was no multifamily revenue during 2018. lending revenue : lending revenue represents revenue from our lending subsidiaries , including interest income on loans and other loan related fee income . lending revenue increased to $ 10,870,000 , or by 6.3 % , for the year ended december 31 , 2018 compared to $ 10,221,000 for the year ended december 31 , 2017 . the increase is primarily due to increases in the prime rate , an increase in the retained loan portfolio , and higher revenue resulting from the recognition of accretion for 76 discounts related to increased prepayments on our loans , partially offset by a decrease in premium income from the sale of the guaranteed portion of our sba 7 ( a ) loans and a decrease related to a break-up fee received during the year ended december 31 , 2017 . expenses office expenses : office expenses decreased to $ 57,258,000 , or by 17.9 % , for the year ended december 31 , 2018 compared to $ 69,782,000 for the year ended december 31 , 2017 . the decrease is primarily due to the sale of one office property in charlotte , north carolina in june 2017 , the sale of one office property and one parking garage in sacramento , california in june 2017 , the sale of two office properties in washington , d.c. in august and october 2017 , the sale of one office property in los angeles , california in september 2017 , a decrease in other tenant reimbursable expenses at one of our washington , d.c. properties , and a decrease in real estate taxes at certain california properties due to real estate tax refunds related to prior years , which were received during the year ended december 31 , 2018 , partially offset by the transfer of the right to collect supplemental real estate tax reimbursements which reduced real estate taxes at our office property in san francisco , california at the time of the property 's sale in march 2017 , an increase from the acquisition of one office property in san francisco , california in december 2017 , the acquisition of one office property in beverly hills , california in january 2018 , and an increase in operating expenses at certain of our california properties and at one of our washington , d.c. properties . the sale of three office properties and one parking garage in oakland , california , one office property in washington , d.c. , and one office property in san francisco , california , which were completed in march 2019 will , and the sale of any additional properties during 2019 would , cause office expenses to decline materially in 2019. however , the magnitude of any such decrease can not be predicted as it will depend on a number of factors such as the number and timing of such dispositions that may occur in 2019 , changes to expenses at existing properties , and any expense increases from acquisitions . hotel expenses : hotel expenses increased to $ 25,295,000 , or by 0.6 % , for the year ended december 31 , 2018 compared to $ 25,136,000 for the year ended december 31 , 2017 . multifamily expenses : multifamily expenses of $ 8,118,000 for the year ended december 31 , 2017 were related to three multifamily properties in dallas , texas , which were sold in may and june 2017 , one multifamily property in new york , new york , which was sold in september 2017 , and one multifamily property in houston , texas , which was sold in december 2017. as a result of the aforementioned sales , there were no multifamily expenses during 2018. lending expenses : lending expenses represent expenses from our lending subsidiaries , including general and administrative expenses and fees to related party , incurred in connection with the operation of the lending business . lending expenses increased to $ 5,714,000 , or by 16.9 % , for the year ended december 31 , 2018 compared to $ 4,888,000 for the year ended december 31 , 2017 . the increase is primarily due to interest expense that commenced in may 2018 as a result of the issuance of the sba 7 ( a ) loan-backed notes and an increase in interest expense in connection with our secured borrowings , partially offset by a decrease in payroll related

