CIM Group Sells The View – Koreatown Apartment Building
LOS ANGELES--CIM Group announced today that it has sold The View, a 168-unit, 13-story apartment building in the Koreatown district of Los Angeles.
CIM acquired the property in August 2013 after a comprehensive renovation of the property originally built in 1965, and commenced an effective leasing program. CIM applied its broad experience in owning and operating multifamily properties to The View, and positioned the building as a popular residential option in this transforming district delivering a premier lifestyle experience in a contemporary environment.
The View features modern and spacious studio, one- and two-bedroom units in a variety of floorplans. The property offers premier on-site amenities such as a private outdoor swimming pool and resort-style lounge area, lush landscaping, residents’ club room and state-of-the-art fitness center.
The property, located at 3460 West 7th Street, is in the heart of Koreatown, which is evolving with a growing array of restaurants and retail offerings. It also is proximate to downtown and convenient to the Wilshire/Normandy station of the region’s subway system.
CIM is a long-time owner and operator of all types of commercial real estate assets throughout the greater Los Angeles region. The company has an extensive history and deep experience in owning, repositioning and operating multifamily properties throughout the region including in downtown Los Angeles, Hollywood, Pasadena, and West Los Angeles, bringing much-needed quality housing to these communities.
ABOUT CIM GROUP
CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $60 billion of projects in communities across the Americas on behalf of its own account and for its partners and co-investors. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and asset management experience in urban real assets, net-lease assets and other associated credit strategies. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.