LOS ANGELES–(BUSINESS WIRE)–CIM Group, a community-focused real estate and infrastructure owner, operator, developer, and lender, announced today that it has closed on a $105 million construction loan with McKinley Homes, an Atlanta-based land developer and builder, for the development of a 279-unit condominium tower in Atlanta. Set on a 1.8-acre site located between Perry Boulevard and Brady Avenue at 788 Marietta Avenue, the 18-story tower, currently under construction is well-located in Atlanta’s West Midtown neighborhood.
The approximately 340,000-square-foot luxury condominium tower includes approximately 8,500 square feet of ground floor retail. Midtown is an active business center as well as a vibrant commercial and arts district with numerous galleries, shopping, dining and entertainment options. The property is within walking distance to the Georgia Institute of Technology, the Westside Provisions District, Atlantic Station, and Midtown proper.
As an owner, developer and operator of commercial properties, CIM also is a lender providing construction, bridge, and repositioning loans to developers of condominiums, apartments, hotels, mixed-use, and entertainment projects in major markets across the United States.
ABOUT CIM GROUP
CIM is a community-focused real estate and infrastructure owner, operator and lender. Since 1994, CIM has led more than $60 billion of projects in metropolitan communities across the Americas on behalf of its own account and for its partners and co-investors. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing and property management experience in real assets located in and serving densely-populated communities, net-lease assets and other associated credit strategies. Using its disciplined approach and extensive in-house expertise, CIM seeks to create value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.