LOS ANGELES–(BUSINESS WIRE)–CIM Group announced today that it has sold Eastway, a 136-unit apartment community at 8820 S. Sepulveda Blvd. in Los Angeles’ Westchester Village.
Built by CIM in 2019, the contemporary five-story building is set on an approximately 1.4-acre site offering 136 studio, one-, and two-bedroom apartment residences above two levels of underground parking providing 221 spaces. Units feature nine-foot ceilings and expansive windows in an open design with modern fixtures and features. Eastway provides residents with an array of appealing amenities including a pool, spa hot tub, and sundeck lounge, an outdoor courtyard with barbeque, picnic areas, and firepit, a rooftop lounge, clubhouse, fitness center, community garden, and dog park.
“With Eastway, we identified a rare property available for development that was ideal for creating much needed housing in a mature Los Angeles community. Eastway provides a new apartment property in a desirable market where the bulk of the multifamily housing was constructed prior to 1990,” said Shaul Kuba, Co-Founder and Principal, CIM Group.
Prominently located at the southeast corner of Sepulveda Eastway and La Tijera Boulevards, Eastway is in the center of a retail and business hub, across the street from Westchester Town Center, and positioned on or near major thoroughfares and the 405 and 105 freeways providing regional connectivity. Eastway is within a few miles of thriving Silicon Beach employment centers such as El Segundo, Playa Vista, and Culver City, and the growing entertainment and sports centers in Inglewood including SoFi Stadium and the 300-acre Hollywood Park mixed-use redevelopment.
For more than 25 years, CIM Group has applied its community-focused approach utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.
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. For more information, visit www.cimgroup.com.