BOSTON – March 17, 2016 – CIM Group announced today the purchase of the six-story, approximately 114,000-square-foot office building at 95 Berkeley Street in Boston’s South End. CIM made this acquisition with Boston-based Center Court Mass, LLC (“CCM”). Terms of the transaction were not disclosed.
Constructed in 1920 and last renovated in 1988, the cast-in-place and poured concrete building offers high ceiling heights and oversized windows creating an abundance of “light and air” as well as a below-grade parking structure. The building is prominently situated at the corner of Berkeley and Chandler Streets, amid the South End’s abundant entertainment options, including many restaurants, bars, galleries and boutiques and steps away from the Back Bay business district. 95 Berkeley also offers immediate access to public transportation located just blocks away from Back Bay Station.
CIM has been involved in the Boston area for more than 10 years, when it identified the community as possessing the attributes that fit its investment discipline, a proven methodology that focuses on established and emerging urban areas with solid infrastructure and transportation networks. 95 Berkeley Street is CIM’s first investment in the South End.
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 five strategic categories: repositioning and development projects, well-positioned operating properties, value-add properties, debt, and infrastructure. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area, Bethesda, Maryland, and Dallas. For more information, please visit www.cimgroup.com
About Center Court Mass, LLC
CCM is a real estate company that owns, operates and redevelops both commercial and residential properties in the Boston area. The leadership team’s acumen has been cultivated through decades of experience structuring and closing deals in the nation’s most vibrant real estate markets. CCM was founded in 2015 to support Boston’s current real estate renaissance, which continues to result in the revitalization of iconic neighborhoods throughout the City.