CIM Group closes $47.5m loan for refinance of 168-unit apartment building in Los Angeles
CIM Real Estate Debt Solutions, a subsidiary of CIM Group, has closed a $47.5 million loan on behalf of a CIM-managed fund to a joint venture between MWest Holdings and BGO to refinance The View apartment building in the Koreatown neighborhood of Los Angeles.
The View is a 168-unit, 13-story apartment building located at 3460 West 7th Street in the heart of Koreatown, a popular residential and business community with an array of restaurants and retailers as well as convenient access to the area’s regional subway system. The View offers studio, one- and two-bedroom units in a variety of floorplans and a wealth of premier on-site amenities.
CIM Group had acquired The View in August 2013 following the completion of a comprehensive renovation of the property, originally built in 1965. MWest and BGO then acquired The View in December 2018 after CIM Group completed a host of improvements to the residences and the property’s leasing and management. Under their