CIM Group Selling West Hollywood Soundstage Housing HBO, Showtime
The West Hollywood site has a long history and big-name tenants.
The West Hollywood site has a long history and big-name tenants.
WeWork is the biggest tenant in the building, which is tied to a $399M CMBS loan.
The sale was at a $50M discount from the asking price listed in August marketing materials.
The retail underpins the $6B project, which has been in the works since the early 2000s.
Pacific Elm Properties secured a $132.5M loan from CIM Group to recapitalize Santander Tower at 1601 Elm St.
The company has also received $400M in financing to help accelerate solar projects in California.
The merger with CIM Real Estate Finance Trust sets the stage for the asset manager and developer to go public without a traditional IPO.
The lender bid $100 to win the asset in the foreclosure auction.
The joint venture of Kushner Cos., CIM Group and LIVWRK are hunting for construction loans for their residential project planned at 85 Jay St. in Dumbo.
Construction underway for a big mixed-use from CIM Group.
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