Downtown Los Angeles, California
In the late 1990s, Downtown Los Angeles suffered from a shortage of housing, retail destinations, parking and signage to meet the needs of residents and workers who commuted to the city.
After identifying Downtown Los Angeles as a Qualified Community, CIM began investing in the area in 2001. CIM has since committed more than $600 million to the market and now owns 17 assets in Downtown Los Angeles.
CIM’s investment has delivered such assets as Flower Street Lofts, a vintage UPS warehouse converted into modern condominiums, which was one of the first adaptive reuse projects of its kind in the area. CIM also introduced a Ralph’s grocery store, Downtown Los Angeles’ first supermarket in 50 years.