CIM buys a 117-unit building in Inglewood



CIM purchased a 117-unit property at 417 Centinela Ave.

CIM Group, a Mid-Wilshire-based developer, has acquired a newly built apartment building in Inglewood for $52.2 million.
The 117-unit property located at 417 Centinela Ave. was purchased using the company’s CIM Real Assets & Credit Fund.

Dubbed Sora, the building has one- and two-bedroom units. Facilities at the property include a swimming pool, fitness center, coworking space, and lounge.
This acquisition comes after a turbulent end of 2021 for the CIM Group.

In November, the company announced that it had sold a portfolio of four data centers to a joint venture between Harrison Street Real Estate Capital and Fifteenfortyseven Critical Systems Realty for an undisclosed amount.
The data centers, which have a combined space of 560,000 square feet, are located in Illinois, Wyoming and New York.

“Under CIM Group ownership, this portfolio has stabilized and increased significantly in value,” Avi Shemesh, co-founder and director of CIM Group, said in a statement at the time. “These assets have benefited from CIM’s sourcing, in-house operational expertise, focused team management and ability to assess and implement changes and additions to the property.”

In October, the company announced that it had signed a long-term lease for the entire 161,108 square foot @Formosa Lot in West Hollywood with HBO and HBO Max, which are owned by WarnerMedia.

In the same month, CIM Group announced that it had purchased Cathedral Square, a three-building office campus about 30 minutes from London. This was the company’s first transaction in Western Europe.

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