CMCT’s manager, CIM Group, strives to invest in locations with the potential to achieve outsized rent growth and asset appreciation.
Key characteristics of these transitional and thriving submarkets include improving market dynamics, population growth, ease of transportation, and appealing dining, entertainment and retail options.
One example is the Sycamore District in Hollywood, California. CIM Group has helped infuse fresh energy into the neighborhood by acquiring and repurposing 1930s and 40s warehouses into enticing creative office, residential and retail destinations.
The previously industrial area has transformed into a trendy locale with a flourishing base of media and entertainment companies including SiriusXM, Showtime, Ticketmaster/Live Nation and Oprah Winfrey Network. Hip restaurants, galleries and coffee shops have sprung up to serve employees and area residents.
CMCT owns 1037 N. Sycamore, a 4,900-square foot office building, and has targeted the neighborhood for additional acquisitions. CIM Group’s broad expertise in identifying communities for investment and developing top-tier multifamily and office assets supports CMCT’s investment objectives.
Includes properties that are operated by CIM Group Group on behalf of partners and co-investors. There can be no assurance similar investment opportunities will be available to CMCT.