SAN FRANCISCO-CIM Group has completed the sale of 10 San Francisco apartment properties to multiple buyers. The properties are part of a 22-building, 418-unit portfolio the company acquired in June 2009.
CIM is proceeding with the sale of the remaining 12 properties in the portfolio, according to a prepared statement. The firm tells GlobeSt.com that it cannot release further details at this time.
CIM acquired the apartment portfolio through a deed in lieu of foreclosure transaction. The properties span the geographic and demographic diversity of the City of San Francisco and, as is typical of this market, have high occupancies.
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