Term Sheet: Cottonwood’s $1bn fundraise; CIM’s Dallas conversion; Texas ERS’s top real assets swap

Cottonwood is capitalizing on capital stack dislocations with $1bn of capital newly lined up for its special situations strategy; CIM Group is channeling office-to-residential conversion momentum into the Southern US with the close of a $132.5m loan in Dallas; Texas Employees’ Retirement System is undergoing a change of guard at its top real assets spot with Bob Sessa’s retirement; and more in today’s Term Sheet, exclusively for our valued subscribers.