IMPERIAL CREDIT COMMERCIAL MORTGAGE INVESTMENT CORP
8-K, 1999-04-30
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



                                April 27, 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 April 27, 1999, Imperial Credit Commercial Mortgage Investment Corp.
(the "Registrant") issued a press release announcing a new $300 million
warehouse line of credit agreement. 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 April 27, 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:  April 30, 1999
<PAGE>
 
                                 EXHIBIT INDEX



           Exhibit
             No.                   Description
             ---                -----------------
            99.1         Press release of the Registrant dated April 27, 1999

<PAGE>
 
         (LOGO OF IMPERIAL CREDIT COMMERCIAL MORTGAGE INVESTMENT CORP.)

FOR IMMEDIATE RELEASE                           EXHIBIT 99.1

             IMPERIAL CREDIT COMMERCIAL MORTGAGE INVESTMENT CORP. 
                   ANNOUNCES NEW $300 MILLION WAREHOUSE LINE

LOS ANGELES, CALIFORNIA, April 27, 1999.  Imperial Credit Commercial Mortgage
Investment Corp. (Nasdaq: ICMI) today announced that it has entered into a new
$300 million warehouse line of credit agreement with an affiliate of Prudential
Securities Incorporated.

Imperial Credit Commercial Mortgage Investment Corp. is a publicly traded real
estate investment trust that invests primarily in multifamily and commercial
mortgage loans, commercial 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).

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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