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CIM Is Dominating the DTLA Housing Market

LOS ANGELES—The developer, which has renovated several properties downtown, is breaking ground on a 525-unit high-rise apartment tower in South Park, which might serve as its biggest project yet.

888 S. Hope The 34-story tower will have 525 apartment units.

LOS ANGELES—The CIM Group is breaking ground on 888 S. Hope Street, a 525-unit apartment complex in the South Park neighborhood. The 34-story high-rise tower is the latest project from the developer, which has been active in the market since 2001, and may be on of its biggest projects yet. The cost of the development and the delivery date were not disclosed.

“CIM brings its expertise of development and management along with its deep knowledge of the South Park district of downtown Los Angeles to this residential development at 888 S. Hope,” an unnamed source at the CIM Group tells GlobeSt.com. “CIM has been an active investor in downtown Los Angeles since 2001 when the firm constructed the Flower Street Lofts, the conversion a former UPS warehouse into condominium residences, the first utilizing the city’s Adaptive Reuse Ordinance.”

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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