Urban Parking Joint Venture

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.



Investment Highlights

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