CIM Group Completes 2535 Alsace, 47-Unit Apartment Community in West Adams Neighborhood of Los Angeles

LOS ANGELES--(BUSINESS WIRE)--CIM Group announced today the completion and opening of 2535 Alsace, a six-story, 47-unit apartment community in the West Adams neighborhood of Los Angeles.

2535 Alsace features a mix of pet-friendly studio and one-bedroom apartment residences designed for contemporary urban living. Community amenities include a rooftop deck, BBQ and lounge area, and on-site bicycle storage. Select residences offer private balconies, and the property also includes approximately 400 square feet of ground-floor commercial office space.

Located just off West Adams Boulevard on Alsace Avenue, 2535 Alsace is situated in one of Los Angeles' most dynamic neighborhoods. The community provides residents with convenient access to local restaurants, retail destinations, employment centers and transportation options, with connectivity to neighborhoods throughout the city.

2535 Alsace includes four affordable units reserved for households earning no more than 50% of the Area Median Income, as defined by the U.S. Department of Housing and Urban Development, and is located within a Qualified Opportunity Zone.

For more than 20 years, CIM Group has acquired and developed real estate and infrastructure assets across communities now designated as Opportunity Zones. The completion of 2535 Alsace further demonstrates the firm's focus on creating housing opportunities and supporting the continued growth of communities across Los Angeles.

For additional property and leasing information visit www.2535alsace.com.

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. For more information, visit www.cimgroup.com.