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

               Date of Report: (Date of Earliest Event Reported):
                        June 4, 2004 (June 1, 2004)


                                 CRIIMI MAE INC.
             (Exact name of registrant as specified in its charter)

         Maryland                       1-10360                 52-1622022
(State or other jurisdiction          (Commission           (I.R.S. Employer
     of incorporation)                File Number)         Identification No.)




                              11200 Rockville Pike
                            Rockville, Maryland 20852
   (Address of principal executive offices, including zip code, of Registrant)

                                 (301) 816-2300
              (Registrant's telephone number, including area code)





Item 5.  Other Events

     On June 1, 2004, CRIIMI MAE Financial Corporation ("CMO-1"), a wholly owned
subsidiary  of  CRIIMI  MAE  Inc.,  redeemed  its  7%  collateralized   mortgage
obligation due January 1, 2033 (the  "Bonds").  As a result of the redemption of
the Bonds by CMO-1,  CRIIMI MAE will incur a $1.1 million loss on extinguishment
of debt in the  second  quarter of 2004.  On June 3,  2004,  CRIIMI MAE issued a
press  release  reporting  the  redemption.  A copy of  this  press  release  is
incorporated by reference herein and is attached hereto as Exhibit 99.1.

Item 7.  Financial Statements and Exhibits.

(c) Exhibits.  The following exhibits are filed with the report:

Exhibit 99.1 - Press Release issued by CRIIMI MAE Inc. on June 3, 2004.





                                   SIGNATURES

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

                                         CRIIMI MAE Inc.



Dated: June 4, 2004                      /s/Mark Libera
                                         -------------------------------
                                         Mark Libera
                                         Its:  Vice President and Acting
                                                 General Counsel








                                  EXHIBIT INDEX

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

*99.1    Press Release dated June 3, 2004.


*Filed herewith