LOS ANGELES-A tall building with a checkered past has been sold by the CIM Group. The Sunset Vine Tower, which was once abandoned after a fire and nearly destroyed by vandals before being restored as a 64-residence luxury apartment building, has now changed hands for an undisclosed price to new owners that have not been identified.
The CIM Group declined further comment but indicated the building has been close to 100% leased since opening in 2010. The Tower sits on the corner of Sunset Blvd. and Vine St., an area that will soon undergo a massive transformation from low density to high-rise mixed-use, thanks to the planned Millennium Hollywood and Columbia Square projects, among other development projects nearby.
Sunset Vine Tower's past reads like a Hollywood script, with success followed by a fall from glory, then a triumphant return.
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