CIM Group Acquires 117-Unit Apartment Building in Inglewood for $52MM

Los Angeles, CIM Group, Inglewood, Sora, SoFi Stadium, The Forum, dward Vincent Jr. Park, Culver City, Santa Monica, Los Angeles International Airport

(EDITOR’S NOTE: According to sources with knowledge of the transaction, the property sold for $52.15 million, or approximately $445,726 per unit.)

LOS ANGELES – CIM Group announced today that it has acquired Sora, a recently completed, five-story 117-unit apartment building in Los Angeles through CIM Real Assets & Credit Fund.

Located at 417 Centinela Ave. in the City of Inglewood, Sora offers one- and two-bedroom residences with high ceilings, quartz countertops, and modern, high-efficiency appliances. Sora residents will have access to a variety of desirable community amenities including a resort-style pool, fitness center, flexible coworking space, barbecue and picnic areas, lounge, and parcel lockers.

Sora is conveniently located 1.5 miles from several high-profile public event and sports venues, including the new SoFi Stadium, The Forum, and the new businesses and attractions at the 300-acre Hollywood Park mixed-use development in the South Bay community of Inglewood— home to upcoming sporting events such as Super Bowl LVI in 2022, the 2023 College Football Championship, and the 2028 Summer Olympics.

As an additional benefit, it is steps away from the 55-acre Edward Vincent Jr. Park. Residents at Sora also have access to various public transportation networks, including the upcoming Metro K Line and the Inglewood Transit Connector Station, and provides easy access to the I-405, I-105, and I-110 freeways for connectivity to Downtown Los Angeles, Culver City, Santa Monica, and Los Angeles International Airport.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests.