WEST HOLLYWOOD, Calif – July 30, 2013 – CIM Group announced today that it has signed a lease with Funny Or Die, an award-winning comedy video website, for one and a half floors at Formosa South, a creative office building currently under construction at The Lot. The company is expanding its operations and will have a studio in addition to other production and office space at Formosa South.
Built to LEED Gold standards, Formosa South is comprised of five stories featuring large floorplates, 13-foot average ceiling heights, with floor-to-ceiling glass, operable windows, terraces and balconies. It is designed to appeal to creative businesses that want the studio environment and facilities such as the commissary and sound stages available at The Lot. The 11-acre studio campus on Santa Monica Boulevard, bounded by Formosa Avenue and Poinsettia Place in West Hollywood, offers a mix of sound stages, office and service buildings. Formosa South is adjacent to the studio arrival gates, which are being remodeled to create a more contemporary studio entry. Construction of the building began in April 2012 and will be completed in late 2013.
Headquartered in Hollywood, CIM is an investor in communities throughout North America. CIM identified the nearby city of West Hollywood as an urban district that meets the firm’s strategic investment guidelines, and made its first investment in the city in 2005. Since then, it has acquired and developed a portfolio of properties there that include office, retail, studios, hotel and multi-family residential properties.
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
About Funny Or Die
Funny Or Die launched in April 2007 and has become an award-winning top destination for comedy on the web. The site has over 19 million unique users per month, over 60 million video views per month, and has grown into a vertically integrated 21st century digital studio that produces high quality content over numerous platforms, operating a social media and marketing division with over 6.3 million Twitter followers (#1 Comedy Brand), two million Facebook fans, and devoted followers on numerous social networking and sharing sites. Funny Or Die has become the “place to be seen” for comedic celebrities, and the obvious destination for a daily comedy fix. Funny Or Die's founders are Gary Sanchez Productions (Will Ferrell, Adam McKay and Chris Henchy), Creative Artists Agency (CAA), and Michael Kvamme. Judd Apatow is also a principal partner in Funny Or Die.