LOS ANGELES – July 29, 2013 – CIM Group today announced that it has acquired The View, a recently renovated 168-unit high rise apartment building located at 3460 West 7th Street in Los Angeles’ burgeoning Koreatown neighborhood.
Built in 1965, the building’s extensive renovations include a seismic retrofit as well as new sprinkler systems and elevators. The units have been transformed into modern luxury residences with high-end finishes including CeasarStone countertops, Grohe fixtures, European-style soft-close cabinetry, and hardwood floors throughout the living areas. The spacious residences, ranging in size from studios to two-bedroom units, each feature a full-size washer and dryer, stainless steel appliances, and all-new operable dual-glazed windows.
Adding to its appeal, The View offers top-tier amenities such as a private outdoor swimming pool and lounge area, lush garden, game room, and state-of-the-art fitness center. It is located in the heart of Koreatown, which is a modern urban district, attractive to young professionals, with abundant shops, dining, and entertainment options. The nearby Wilshire/Normandy subway station provides access to major business districts such as downtown Los Angeles and Hollywood.
The View offers a rare modern apartment option in a market where there is increasing demand for quality residences.
CIM is an investor in communities throughout North America, and the Koreatown area of Los Angeles is an emerging urban district that meets CIM’s strategic investment guidelines. It is located near Hollywood where the company is headquartered and has been an active investor since 1998.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com