Between 2001 and 2007, CIM made 15 strategic investments in the downtown LA community.

Motivated by the economic, political and cultural forces present throughout the 1990s, the City of Los Angeles was determined to create change in downtown LA. Their goal was to spur growth of the downtown area, with an emphasis on transforming it from a business district into a thriving community with life bustling at every corner.

Both private and public investment and support began with the development of several major entertainment and cultural venues including the STAPLES Center, the Los Angeles Cathedral and Disney Concert Hall. In addition, the City passed an adaptive reuse ordinance which made it easier for developers to convert functionally obsolescent commercial buildings to residential use, facilitating a surge in the residential population and an expanded live-work-play environment.

As a result of these efforts and consistency with other aspects of CIM’s qualified community process, we determined that downtown LA and in particular, the South Park District, was positioned for significant growth. We believed that the area's market fundamentals and influx of public and private investment would ultimately create a vibrant downtown. In 2001, we became one of the first institutional investors in the area and committed over $600 million to the submarket through 14 different projects from 2001 to 2007. Such projects included one of the area’s first adaptive reuse projects, as well as the first full-service grocery store in downtown in over 50 years.

888 South Hope | Los Angeles, CA
Los Angeles, CA

In 2001, we became one of the first institutional investors in the area and committed over $600 million to the submarket through 14 different projects from 2001 to 2007. Such projects included one of the area’s first adaptive reuse projects, as well as the first full-service grocery store in downtown in over 50 years.

CIM’s recent investments continue to support the growth of the broader downtown area with new residences and employers. 888 South Hope and Two California Plaza are two of those investments.

CIM's Recent Investments

888 South Hope | Los Angeles, CA

888 South Hope is a 34-story, luxury mixed-use residential and retail project featuring 525 residential units, a 32,000 square-foot amenity deck and nearly 15,000 square feet of ground floor retail in the South Park neighborhood of downtown Los Angeles. 888 South Hope has positively impacted downtown LA by expanding housing options in the area with residences that offer direct access to public transportation and local businesses.

2 California | Los Angeles, CA

Two California Plaza is a 52-story, Class A office building totaling approximately 1.4 million square feet in the Bunker Hill neighborhood of downtown Los Angeles. Upon acquisition, CIM saw an opportunity to turn the building into a once predominately workforce-only location to a 24/7, amenity-driven, live-work-play environment.

Since our initial involvement in 2001, downtown LA has continued to thrive. Today, the value of commercial property in the area has increased from $5.3 billion to nearly $15 billion. In addition, the number of residential units has tripled, and the residential population has nearly quadrupled. Our many strategic investments, have helped to turn downtown Los Angeles into a vibrant district for residents, workers and visitors alike.

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