Articles from CIM Group

CIM Group announced today that it has welcomed Jason Vassiliades to its Infrastructure Investments team as Managing Director. Mr. Vassiliades brings more than 25 years of experience investing and developing infrastructure and real estate with a strong background in transportation infrastructure.

CIM Group, a real estate and infrastructure owner, operator, lender and developer, and Novva Data Centers, a state-of-the-art data center company providing purpose-built facilities across the Western U.S., announced today that they recently closed a new commitment of $2 billion in financing from J.P. Morgan and Starwood Property Trust to complete the build-out of Novva’s flagship 175MW Salt Lake City data center. Founded in 2019 by CIM Group and Novva’s management team, Novva has moved quickly to bring its vision of purpose-built, sustainable data centers to life amid the soaring demand for capacity driven by increasing adoption of cloud computing and artificial intelligence (“AI”).

CIM Group announced today that its CIM Real Estate Debt Solutions business, on behalf of a CIM-managed fund, has closed a $57.5 million whole loan to Creation Equity and PGIM Real Estate to refinance a four-building, approximately 533,000-square-foot industrial property portfolio in Northwest Houston.

CIM Group announced today that its CIM Real Estate Debt Solutions business, on behalf of a CIM-managed fund, has closed a $15.6 million whole loan to Ad Astra Capital for the acquisition of the Hilton Garden Inn Casper in Casper, Wyoming.

CIM Group announced today the continued expansion of its Institutional Client Group with the appointment of Albert Yang as Managing Director to lead business development and investor relations in Europe, the Middle East and Africa (EMEA). Mr. Yang will be based in London.

CIM Group announced today the continued expansion of its Institutional Client Group with the appointment of Melannie Pyzik as Managing Director to oversee business development and investor relations in the Asia-Pacific (APAC) region. Ms. Pyzik will be based in Sydney.

CIM Group announced today that it has executed a long-term lease with global film and television studio Miramax for 16,000 square feet of office space at The Lot at Formosa, an entertainment production campus in West Hollywood, California. The office at The Lot at Formosa serves as the new headquarters for Miramax.

CIM Group announced today that its CIM Real Estate Debt Solutions business, on behalf of a CIM-managed fund, has closed a $90 million whole loan to Brookfield Asset Management to refinance Downright Austin, a Renaissance Hotel in downtown Austin.

CIM Group announced today that as part of the ongoing growth of its Institutional Client Group, the company is expanding its insurance-focused client solutions with the formation of a specialized insurance industry team. The insurance team will offer tailored strategies and partnerships to insurance companies across North America within areas such as CIM Group’s real estate, infrastructure and credit businesses. Overseeing this initiative is Bernard “Bernie” Ryan, who joins CIM Group as Managing Director and Head of Insurance.

CIM Group announced today the sale of Arioso, a well-located, 201-unit apartment community in the Silicon Valley community of Cupertino, California.

CIM Group announced today that it has completed construction of a 55,673-square-foot, three-story creative office building with two levels of below grade parking at 3000 Crenshaw Blvd. in Los Angeles.

CIM Group announced today that it has welcomed Michael Turner to its infrastructure team in the position of Managing Director, Investments.

CIM Group announced today that its CIM Real Estate Debt Solutions business, on behalf of a CIM-managed fund, has closed a $31 million whole loan to an affiliate of CarrAmerica (Carr) to refinance the Hotel Indigo Old Town Alexandria in Alexandria, Virginia.

CIM Group announced today that it has signed Southern California Gas Company (SoCalGas) to a long-term lease for approximately 198,553-square-feet at City National 2CAL.

CIM Group today announced the opening of a six-story apartment building at 2599 Alsace Ave. in the bustling West Adams neighborhood.

CIM Group, a leading community-focused real estate and infrastructure owner, operator, lender and developer, announced today that it has provided financing for the creation of Round Hill Capital Ventures, a newly formed investment platform that has acquired management contracts for assets formerly managed by Round Hill Capital. Michael Bickford will serve as CEO of the successor entity, with the portfolio continuing to be managed by highly experienced teams across six offices in the EU, the U.K. and the U.S. As part of the partnership, CIM Group is also providing growth capital to Round Hill Capital Ventures for its continued expansion.

CIM Group, announced today that it has signed a long-term lease with contemporary fashion and accessories retailer J.Crew Factory for an approximately 6,500-square-foot space at its Northwoods Shopping Center, a 443,148-square-foot regional community center offering a mix of shops, restaurants and entertainment. The J.Crew Factory lease follows the recently announced addition of a 30,256-square-foot Homesense store at Northwoods.

CIM Group announced today that it closed on an initial $125 million loan commitment with a potential increase up to $200 million to Applied Digital (NASDAQ: APLD). The loan will fund construction of Applied Digital’s High-Performance Computing (HPC) Campus in Ellendale, North Dakota. The data center is designed to provide massive computing power and support HPC applications.

CIM Group announced today that it has signed a long-term lease with Homesense, a new concept from the parent company of HomeGoods, for an approximately 30,256-square-foot space at its Northwoods Shopping Center, a 443,148-square-foot regional community center offering a mix of shops, restaurants and entertainment.

CIM Group announced today the sale of the Goodyear Airport portfolio which is comprised of two, fully leased industrial buildings totaling 726,802 square feet located at 2250 S. Litchfield Road and 1685 S. Litchfield Road, adjacent to the Phoenix Goodyear Airport in Arizona.

CIM Group announced today the sale of Lennox at West Village, a 159-unit apartment community set on an approximately 6.49-acre property with 249 parking spaces that was acquired in 2013.

CIM Group announced today the sale of The Argonne, a 276-unit, eight-story apartment building that was acquired in 2013.

CIM Group announced today the opening of The Jayne, a 69-unit, six-story apartment building, with six units designated as affordable, and approximately 5,453 square feet of ground floor retail space, located at 2555 S. Mansfield Avenue in the West Adams neighborhood of Los Angeles.

CIM Group announced today that it has sold Mason at Van Dorn, a 1,180-unit apartment community consisting of fourteen four- and five-story buildings spread across an approximately 25-acre site in Alexandria, Virginia. CIM Group acquired the community in December 2017.

CIM Group announced today that it has sold a 139,502-square-foot cold storage warehouse facility which it recently completed at 6900 AWG Way in Fort Worth, Texas. The modern, state-of-the-art warehouse sits on an approximately 14.42-acre property which CIM acquired in 2020 as part of its acquisition of the adjacent 1,128,162-square-foot Junction 20/35 logistics center which it continues to own and operate.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that its CIM Real Estate Debt Solutions business closed an $18.3 million loan on behalf of a CIM-managed fund to PEG Companies for the acquisition of the Residence Inn Salt Lake City Cottonwood (“Residence Inn”).

CIM Group announced today the sale of District at SoCo, a 215-unit apartment community with 328-space parking garage in Austin, Texas, which it acquired in 2013.

CIM Group announced today that it has been named to The Korea Economic Daily’s (KED) list of 2023 Best Asset Managers by Korean Investors as Best Client Service provider among mid-cap real estate investors.

CIM Group announced today that it has signed German luxury watch manufacturer A. Lange & Söhne to a long-term lease for 1,409 square feet of retail space at The Shops at Tribune Tower in Chicago, Illinois.

CIM Group announced today that it has executed a long-term lease with international law firm Sheppard Mullin to bring its headquarters to City National 2CAL. The deal, consisting of a total of 119,217 square feet, represents the largest new office lease transaction in Downtown Los Angeles in 2023. Sheppard Mullin, one of the largest law firms in Los Angeles County, will occupy floors 39 through 42 and approximately 7,000 square feet on the Plaza level at City National 2CAL, CIM Group’s 1.4 million-square-foot, 52-story office building at 350 S. Grand Avenue in the Bunker Hill District of Downtown Los Angeles.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that its CIM Real Estate Debt Solutions business closed a $47.5 million loan on behalf of a CIM-managed fund to a joint venture between MWest Holdings and BGO to refinance The View apartment building in the Koreatown neighborhood of Los Angeles.

CIM Group is hosting a public art exhibition called INTERREALITY in 15,000 square feet of space in its The Desmond office building, a recently refurbished Art Deco office building located at 5500 Wilshire Boulevard in the Miracle Mile district of Los Angeles.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that it has signed a long-term lease with Noah Clothing, a New York-based streetwear brand, for an approximately 5,000-square-foot boutique in the Sycamore District, expanding the area’s array of distinctive designers, restaurants, galleries and services.

CIM Group announced today that it has signed a long-term lease with Main Event Entertainment to bring its signature family fun and event center to an approximately 51,802-square-foot space at Montclair Place, a 1.2 million-square-foot regional retail, restaurant and entertainment destination in the heart of Montclair, California.

CIM Group announced today the opening of its latest apartment community, The Wilson, a newly built 47-unit building with approximately 15,000 square feet of ground floor retail space prominently located at 2903 Lincoln Blvd. in the Sunset Park neighborhood of Santa Monica.

CIM Group and its partner announced today the acquisition of Onyx183, a 390-unit apartment community located at 6800 McNeil Dr. in Austin, Texas.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that its CIM Real Estate Debt Solutions business closed on behalf of a CIM managed fund a $34.97 million senior loan to a joint venture between Monarch Alternative Capital and HHM Hotels secured by the dual-branded Aloft/Element hotel in Orlando and a $28.9 million whole loan to Newbond Holdings secured by the Aloft in Tampa.

One year since CIM Group’s formation of its renewable natural gas (RNG) portfolio company Terreva Renewables, founded with the acquisition of 100% of the RNG development platform of MAS CanAm, LLC, CIM Group is building on Terreva’s recent successes, including several new RNG operations, and is announcing that it has raised $417 million from corporate and institutional investors to advance the growth of this RNG platform. In the past year Terreva has completed construction and is operating several RNG facilities, and is growing the company by tapping into the ever-increasing demand for RNG as a vital contributor to decarbonization efforts across transportation, utility and industrial applications. CIM Group began investing in RNG in 2021 and formed Terreva in August 2022 to be a leading RNG platform in North America.

CIM Group announced today that it has sold Fifth + Tillery, a three-story, approximately 182,700-square-foot creative office building located at 618 Tillery Street in East Austin.

CIM Group was joined by Pastor Charles Blake II, pastor of West Angeles Church of God in Christ, and Los Angeles City Councilwoman Heather Hutt on Thursday, June 29, 2023, for a community celebration of the start of construction of a mixed-use development consisting of 168 apartments, of which 17 will be affordable, and 40,000 square feet of ground floor retail at 3045 Crenshaw Blvd.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today the opening of three unique retail concepts - Nili Lotan, Lizzie Mandler and Clover - expanding the array of distinctive designers, restaurants, galleries and services in Sycamore District, located in the southern portion of historic Hollywood.

CIM Group today unveiled Panorama Brooklyn Studios, bringing a new production studio environment featuring approximately 90,000 square feet of studio, production office and support space and the opportunity to secure additional floors for production, to the market in a picturesque Brooklyn waterfront location. Panorama Brooklyn Studios is located on several floors of the 12-story 25 Columbia Heights building, and identified with new high-profile signage at Panorama, which comprises five interconnected 1930s and 1940s era buildings spanning two city blocks between the DUMBO and Brooklyn Heights neighborhoods.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that it has partnered with Shelters to Shutters, a nonprofit organization that provides training and job opportunities in the multifamily industry and a path to housing for situationally homeless individuals and families.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that it has signed a long-term lease with Paceline Equity Partners, LLC for 12,465 square feet at the Offices at Turtle Creek Village. Located at 3838 Oak Lawn Dr. in Dallas, Paceline will occupy the entire 6th floor of this 18-story, approximately 229,868-square-foot office tower in the heart of the mixed-use Turtle Creek Village.

CIM Group announced today that it has acquired an approximately 1.3-acre property at 3045 Crenshaw Blvd. which is entitled for a mixed-use development consisting of 168 apartment units, of which 17 will be affordable, and 40,000 square feet of ground floor retail.

CIM Group, announced today that it has executed leases with Nordstrom Rack and Chick-fil-A at its Northwoods Shopping Center, a 443,148-square-foot regional community center offering a mix of shops, restaurants and entertainment.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today the opening of Jacques Marie Mage and Motor Cars LA, adding to the distinctive collection of innovative shops, galleries and amenities in the Sycamore District, located in of the southern portion of historic Hollywood.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that it has expanded its approximately $10 billion Real Estate Debt Solutions platform to Europe, with initial plans to originate primarily whole loans on transitional assets as well as core mezzanine loans across the U.K. and key Western European countries.

CIM Group announced today that it has executed new long-term leases and lease extensions with a diverse group of businesses at 16 Court Street, a 36-story, 317,600-square-foot office building prominently located at the intersection of Brooklyn Heights and Downtown Brooklyn.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that it has sold Hartland Plaza, a 184,128-square-foot Class A office building in Austin, Texas which it acquired in 2015.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that its CIM Real Estate Debt Solutions business closed more than $3.8 billion of commercial real estate loans in 2022 for property acquisitions, recapitalizations, and new construction projects across the U.S.

CIM Group announced today that it executed three leases with financial industry businesses for a total of 108,975 square feet at 425 S. Financial Place, a prominent 40-story, one-million-square-foot office complex in Chicago’s Central Loop.

CIM Group announced today that it has sold Montierra, a 346-unit apartment community in the heart of Galleria/Uptown Houston district, which it acquired in 2013.

CIM Group announced today that it has sold the 246-unit Ashton on West Dallas apartment community which it acquired from the developer upon its completion in 2013.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, and its affiliate Centennial Yards Company, the master developer of a $5 billion mixed-use development in Downtown Atlanta, announced today that they have entered into a strategic partnership with Project Destined, a leading social impact investment and education platform that provides apprenticeship-style training to students and military veterans seeking careers in the commercial real estate industry.

CIM Group announced today that The IDEAL School of Manhattan has signed a long-term lease for 63,000 square feet at 5 Hanover Square, an approximately 338,049-square-foot office building, as the new home for the independent K-12 school. The IDEAL School will occupy floors two through five of the 25-story building, along with a portion of the ground floor for a private entrance.

CIM Group announced today that it has signed Coach to an approximately 3,000-square-foot retail location at 444 N. Michigan Ave. in Chicago, Illinois.

CIM Group announced today that it has completed construction of The Dillon Silver Lake II, a 53-unit, three-story apartment building with subterranean parking and 18,495 square feet of ground floor retail space leased to anchor tenant Target. Located at 609 N. Dillon, the new building sits opposite CIM Group’s The Dillon Silver Lake, a 49-unit apartment building which opened in 2019.

CIM Group announced today the signing of a long-term lease with piercing and jewelry brand Rowan for a prominent, approximately 900-square-foot retail space on Michigan Avenue at The Shops at Tribune Tower in Chicago, Illinois. The new location is Rowan’s first in Chicago and is part of the company’s ongoing expansion of its retail studios in select markets across the U.S.

CIM Group announced today that it has acquired 100% of the Renewable Natural Gas (RNG) development platform of MAS CanAm, LLC, an affiliate of MAS Energy, LLC (“MAS Energy”), a leading developer, owner and operator of landfill gas-based RNG in the U.S. and Canada, including a portfolio of seven projects currently under construction or in development. As part of the transaction, the platform will be renamed Terreva Renewables (“Terreva”).

CIM Group announced today that it has signed a long-term lease with RevGen Partners, Inc., a full-service business and technology consulting firm, for 10,000 square feet of office space at LoDo Towers in Denver, Colorado.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that a CIM-managed fund has closed a $204 million construction loan to Medistar Corporation, GMH Communities, and a fund sponsored by CBRE Investment Management to finance the development of Central Station, a one million-square-foot mixed-use transportation hub in Downtown Phoenix.

CIM Group announced today the signing of a long-term lease with Blue Bottle Coffee for a 1,188-square-foot retail space at The Shops at Tribune Tower in Chicago, Illinois.

CIM Group announced today the acquisition of multiple parcels totaling 1.6 acres, at a high-profile location on and around 1000 N. La Brea Avenue which has been home to an operating cement plant for the past approximately 60 years. The property is located within the cities of West Hollywood and Los Angeles with the cement plant spanning in each city.

CIM Group announced today the execution of a long-term lease with ScalpTrade, a proprietary trading firm and technology service provider, for 13,000 square feet of office space at 425 S. Financial Place in Chicago’s Central Loop.

CIM Group announced today that it has sold Eastway, a 136-unit apartment community at 8820 S. Sepulveda Blvd. in Los Angeles’ Westchester Village.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, and its affiliate the Centennial Yards Company, the master developer of a $5 billion mixed-use development in Downtown Atlanta, announced today that they have entered into a strategic partnership with Project REAP, a non-profit organization dedicated to advancing diversity, equity, and inclusion in the commercial real estate industry.

CIM Group and Open Realty Advisors announced today the sale by a CIM-managed fund of the Henderson Avenue retail portfolio consisting of 15 prominent retail buildings, totaling 124,000 square feet and spanning approximately one mile along Henderson Avenue in Dallas, Texas.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that a CIM-managed fund has closed a $147 million loan to Crown Realty & Development secured by Adeline, a recently completed apartment community in Phoenix, AZ.

CIM Group announced today that a CIM-managed fund has signed a lease with NPSG Global, a provider of critical e-fulfillment warehouse implementation services, for 2250 S. Litchfield Rd., a 450,619-square-foot industrial facility in Goodyear, Arizona which it acquired in August 2021.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that its CIM Real Estate Debt Solutions business closed $1.6 billion of commercial real estate loans in the first quarter of 2022. This significant amount of loan closings marks continued strong demand and activity for CIM’s lending program, as it closed $3.4 billion in commercial real estate loans in 2021.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that a CIM-managed fund has closed a $136.7 million construction loan to Kenneth Kai Chang and Jeneration Capital for Ililani, a 42-story condominium tower in Honolulu, Hawaii.

CIM Group announced today that it has sold Strata Wynwood, a recently completed mixed-use development with 257 apartment residences, 60,300 square feet of creative office space, 27,040 square feet of retail, and 474 parking spaces in the Wynwood Arts District of Miami, FL.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that a CIM-managed fund has closed a $353 million loan to Monarch Alternative Capital and Tourmaline Capital Partners for the acquisition of a premier four-building office complex totaling more than one million square feet at The Esplanade mixed-use campus in Phoenix, Arizona.

CIM Group, a community-focused real estate and infrastructure owner, operator, lender and developer, announced today that a CIM-managed fund has closed a $73 million whole loan to Taconic Capital Advisors and Champion Partners to refinance and provide future leasing capital for Legacy Commons, a 287,044-square-foot, three-story office campus and 5.3-acre undeveloped land site in the master-planned Legacy community in Plano, Texas.