CIM formed Urban Parking Joint Venture with a leading parking operator to acquire and operate urban parking assets in the U.S. The Venture seeks to improve operating performance of these assets, primarily located in markets where supply/demand dynamics are becoming more attractive, though professional management and automation.
The assets include:
- A 1,029 space free-standing parking structure in downwtown Jackson, Florida
- A 130-stall subterranean garage located in the Times Square submarket in New York City
- A 456-stall free-standing garage located in Seattle, Washington
- A 1,154-stall garage in Columbus, Ohio
- A portfolio consisting of three parking structures consisting of 2,319 stalls in the CBD of Cincinnatti, Ohio