We strive to increase the value of individual assets and improve the ambiance of the community as a whole.

Our Opportunistic Strategy focuses on acquiring, developing and improving properties for successful operation and eventual sale. We pre-qualify thriving and transitional communities for investment, then seek out properties for our Opportunistic Strategy within those communities.

Creating Value

Depending on the individual asset, we may create opportunistic value through any of the following methods:

  • Extensive leasing
  • Substantial redevelopment
  • New construction
  • Adaptive reuse
  • Resolving distress and other special situations
Sunset La Cienega  |  Mixed-Use  |  Opportunistic  |  West Hollywood

Potential opportunistic property types:

  • Residential
  • Office
  • Retail
  • Hospitality
  • Entertainment
  • Mixed-use

Opportunistic Strategy in Action

Madison Avenue

11 Madison Avenue | Manhattan, New York

In 2011, CIM acquired a 49% stake in 11 Madison Avenue, a 29-story, 2.3 million square-foot office tower, through an off-market transaction. 11 Madison Avenue serves as the U.S. headquarters for Credit Suisse. At the time, the area had begun a positive transition that included the restoration of Madison Square Park, new restaurant openings and the development of high-end luxury residential units.

Shortly after the acquisition, Credit Suisse chose to significantly reduce its footprint in the building. To fill the remaining space, our Leasing team approached Sony about relocating its headquarters to 11 Madison.

Though the media conglomerate initially planned to remain in the mid-town Manhattan neighborhood that had been its home for 20 years, Sony recognized the desirability of the Madison Square Park area and signed a 15-year lease for 525,000 square feet in 2014.

Our Development team led the effort to divide the office tower’s main lobby, providing both Sony and Credit Suisse with individual reception areas. Our Leasing team signed Yelp as a tenant, and Eleven Madison Park, a Michelin-rated restaurant, moved into a first-floor space.

In 2015, following years of active management and an emphasis on creating value, the building sold for $2.6 billion. At the time, this was the second highest purchase price of any U.S. office building,

There can be no assurance that CIM will replicate past results or meet its objectives in the future.

Securities distributed by affiliate broker-dealer: CCO Capital, LLC, member: FINRA / SIPC