SAN FRANCISCO—CIM Group has purchased 330 Townsend in San Francisco for an undisclosed sun. The 98 percent-leased, 60,000-sq.-ft. office building is located in the South of Market District, which has one of the lowest office vacancy rates in the city.

Through the West SoMa Community Plan, 330 Townsend is zoned for additional development. CIM has not said yet whether it will add to the building.

This purchase is one of several recent buys for CIM, which has been in the Greater Bay Area since 2001. The real estate and infrastructure investment firm also recently purchased 260 Townsend, a 100 percent occupied, class-A office building, located one block from 330 Townsend. Additionally, CIM purchased 211 Main St., also a fully-occupied, class-A building just a couple blocks from the other buys.

In total CIM owns 2.7 million sq. ft. of class-A office property in the Bay Area as well as two hotels.

Article source: http://nreionline.com/investment/cim-expands-bay-area-office-holdings-three-recent-purchases

SAN FRANCISCO—CIM Group has purchased 330 Townsend in San Francisco for an undisclosed sun. The 98 percent-leased, 60,000-sq.-ft. office building is located in the South of Market District, which has one of the lowest office vacancy rates in the city.

Through the West SoMa Community Plan, 330 Townsend is zoned for additional development. CIM has not said yet whether it will add to the building.

This purchase is one of several recent buys for CIM, which has been in the Greater Bay Area since 2001. The real estate and infrastructure investment firm also recently purchased 260 Townsend, a 100 percent occupied, class-A office building, located one block from 330 Townsend. Additionally, CIM purchased 211 Main St., also a fully-occupied, class-A building just a couple blocks from the other buys.

In total CIM owns 2.7 million sq. ft. of class-A office property in the Bay Area as well as two hotels.

Article source: http://nreionline.com/san-francisco/cim-expands-bay-area-office-holdings-3-recent-purchases

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Article source: http://www.globest.com/news/12_481/sanfrancisco/multifamily/CIM-Group-Closes-on-Apartment-Portfolio-Sale-326903.html

CIM acquired the apartment portfolio through a deed in lieu of foreclosure transaction. The properties span the geographic and demographic diversity of the City of San Francisco and, as is typical of this market, have high occupancies. CIM has applied its investment and management model to enhance the properties and increase the value of the portfolio. The San Francisco Bay Area is one of the strongest commercial real estate markets in the country and a top target for investors.

CIM identified the Greater Bay Area as possessing the attributes that fit its investment model, which focuses on established and emerging urban areas with solid infrastructure and transportation networks. CIM Group has investments in a variety of commercial properties in the Bay Area including approximately 1.7 million square feet of office properties and two hotels in Oakland.

About CIM Group

CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com

Article source: http://www.heraldonline.com/2012/11/14/4415342/cim-group-sells-10-properties.html