IMPERIAL CREDIT COMMERCIAL MORTGAGE INVESTMENT CORP
8-K, 1999-09-29
REAL ESTATE INVESTMENT TRUSTS
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<PAGE>

                      SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549



                                   FORM 8-K

                                CURRENT REPORT

                      Pursuant to Section 13 or 15(d) of
                      the Securities Exchange Act of 1934



                              September 29, 1999
            -------------------------------------------------------
               Date of Report (Date of earliest event reported)



             Imperial Credit Commercial Mortgage Investment Corp.
         ------------------------------------------------------------
            (Exact name of registrant as specified in its charter)



   Maryland                      0-23089                     95-4648345
- ----------------              ---------------       ---------------------------
State or other jurisdiction    (Commission                  (IRS Employer
of incorporation)              File Number)               Identification No.)



           11601 Wilshire Blvd., Suite 2080, Los Angeles, CA  90025
       -----------------------------------------------------------------
            (Address of principal executive offices)        (Zip Code)




                                (310) 231-1280
                       ---------------------------------
                        (Registrant's telephone number)
<PAGE>

Item 5.  Other Events.

     On September 29, 1999, Imperial Credit Commercial Mortgage Investment Corp.
(the "Registrant") issued a press release reporting the declaration of a $0.22
dividend for the quarter ending September 30, 1999. A copy of the press release
is attached as Exhibit 99.1 to this Form 8-K and is incorporated herein by
reference.


Item 7.  Exhibit

     Exhibit 99.1  Press release of the Registrant, dated September 29, 1999
<PAGE>

                                   SIGNATURE


     Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


       IMPERIAL CREDIT COMMERCIAL MORTGAGE INVESTMENT CORP.




                          By: /s/  MICHAEL MELTZER
                             ___________________________________________________
                          Michael Meltzer, Chief Financial Officer and Treasurer


Dated:  September 29, 1999
<PAGE>

                                 EXHIBIT INDEX



Exhibit
No.                                          Description
- -------                                  -------------------

99.1                    Press release of the Registrant dated September 29, 1999

<PAGE>

                                                                    EXHIBIT 99.1

         (LOGO OF IMPERIAL CREDIT COMMERCIAL MORTGAGE INVESTMENT CORP.)

FOR IMMEDIATE RELEASE


             IMPERIAL CREDIT COMMERCIAL MORTGAGE INVESTMENT CORP.
                         ANNOUNCES QUARTERLY DIVIDEND

LOS ANGELES, CALIFORNIA, September 29, 1999.  Imperial Credit Commercial
Mortgage Investment Corp. (Nasdaq: ICMI) today announced that its Board of
Directors has declared a cash dividend of $0.22 per share of common stock for
the quarter ending September 30, 1999.  The dividend will be payable on October
15, 1999 to shareholders of record at the close of business on October 8, 1999.

Imperial Credit Commercial Mortgage Investment Corp. is a publicly traded real
estate investment trust that invests primarily in multifamily and commercial
mortgage loans, real property and commercial mortgage-backed securities.  The
Company is managed by Imperial Credit Commercial Asset Management Corp., a
wholly-owned subsidiary of Imperial Credit Industries, Inc. (Nasdaq: ICII).

Certain statements contained herein are "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the Securities Act of
1934, as amended.  These forward-looking statements may be identified by
reference to a future period(s) or by the use of forward-looking terminology,
such as "may," "will," "intend," "should," "expect," "anticipate," "estimate" or
"continue" or the negatives thereof or other comparable terminology.  The
Company's actual results could differ materially from those anticipated in such
forward-looking statements due to a variety of factors, including, but not
limited to, changes in national, regional or local economic environments,
competitive products and pricing, government fiscal and monetary policies,
changes in prevailing interest rates, the course of negotiations, the
fulfillment of contractual conditions, factors inherent to the valuation and
pricing of interests in commercial mortgage-backed securities, other factors
generally understood to affect the real estate acquisition, mortgage and leasing
markets and security investments, and the other risks detailed in the Company's
Registration Statement on Form S-11, as amended, filed with the Securities and
Exchange Commission (the "SEC"), periodic reports on Forms 10-Q, 8-K and 10-K
and any amendments with respect thereto filed with the SEC and other filings
made by the Company with the SEC.

For further information, please contact Michael Meltzer, Chief Financial
Officer, at (310) 231-5906 or Karen Montandon, Investor Relations, at
(310) 791-8022.


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