LOS ANGELES—CIM Group has sold an office property in Los Angeles to a medical group owner/occupier for $24 million. In June 2013, CIM Group had purchased the property for $14 million, and with this sale, has earned an appreciation of 41% on the property in less than two years. This was an off-market transaction.

According to the brokerage team, CIM Group was in the process of repositioning the property when the buyer approached them with its $24 million offer. The healthy sales price allowed them to achieve their original goal without undergoing to value-add component, making the transaction a win-win for both parties. Lynwood Fields and Bob Safai of Madison Partners represented the seller in the transaction. Madison Partners also represented CIM Group when it purchased the property originally in June 2013.


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.