SAN FRANCISCO-CIM Group has completed the saleof 10 San Francisco apartment properties to multiplebuyers. The properties are part of a 22-building, 418-unitportfolio the company acquired in June 2009.
CIM is proceeding with the sale of the remaining 12 propertiesin the portfolio, according to a prepared statement. The firm tellsGlobeSt.com that it cannot release further details at thistime.
CIM acquired the apartment portfolio through a deed in lieu offoreclosure transaction. The properties span the geographicand demographic diversity of the City of San Francisco and, as istypical of this market, have high occupancies.
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