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CIM Group history
CIM Group company history timeline
Our in-house team, community focus and disciplined approach have set us apart since 1994.
Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas.
The company was founded in 1994 by Shaul Kuba, Richard Ressler, and Avi Shemesh.
Throughout the early 2000’s, CIM kept rolling up cash, in part by drawing investments from public pension funds like those in New York State and California.
In 2004, the company acquired the site for Hollywood & Highland, which included the Tiffany Theater.
In 2005, in partnership with JBG Smith, the company acquired the Marriott Wardman Park hotel from Thayer Lodging Group for $300 million.
Though the condo-hotel project had been announced on “The Apprentice” finale in 2006, it was troubled from the start.
In February 2007, the company acquired the BB&T Center for $117 million.
Just after a gala ribbon-cutting for the Trump SoHo in the fall of 2007, the New York Times reported that one of principals in the building partnership, Felix Sater, had been convicted of assault for cutting a man with a broken margarita glass in a bar fight.
In October 2008, the company acquired the Ordway Building, the tallest building in Oakland, California as part of a $412 million acquisition from Brandywine Realty Trust.
In 2008, the company completed the development of The 88, the tallest building in San Jose, California.
The same month CIM saved Trump SoHo, December 2010, CIM bailed out the project’s co-developer, Tamir Sapir, on two other properties he owned: 11 Madison Avenue and the William Beaver House in Lower Manhattan.
In 2010, when CIM made its first foray into New York, the two states had more than a billion dollars with CIM. Neither pension fund would discuss the reasons for their investments.
In 2010, the company acquired the site of the former Drake Hotel in Manhattan for $305 million and began construction of 432 Park Avenue on the site.
In April 2012, the company acquired the site of 108 North State Street for $84 million from Bank of America, which had foreclosed upon the property.
In November 2013, the company completed the development of the Downtown Grand in Las Vegas.
In 2013, the company partnered with Kushner Companies to acquire 2 Rector Street.
In February 2014, the company acquired Two California Plaza.
In July 2014, the company invested in Westlands Solar Park, a photovoltaic power station.
According to the non-partisan research group Opensecrets.org, CIM spent $430,000 on federal lobbying in 2015, putting it among the top ten real estate firms lobbying on that issue.
It sold the property in March 2016.
In August 2016, the company partnered with Kushner Companies to acquire the Jehovah’s Witnesses’ Watchtower building in Brooklyn for $340 million in one of the largest transactions to date in Brooklyn.
In June 2017, it sold the property to Arden Group for $148.8 million.
In February 2018, the company acquired Cole Capital, which had $7.6 billion in real estate assets, from VEREIT.
2019 marked our 25th year of enhancing communities and creating value for our stakeholders.
It redeveloped the property and sold it in 2019 for $325 million; however, it did not sell the Dolby Theatre which is on the property.
In April 2020, the company agreed to buy Baldwin Hills Crenshaw Plaza for more than $100 million with plans to convert the former Sears and Walmart into offices to drive more foot traffic into the remaining retail stores.
In May 2020, the company and partner Golub & Company received approval to develop Tribune East Tower, the second tallest building in Chicago.
However, in June 2020, the sale was cancelled due to community opposition to the plan without a residential component.
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CIM Group competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Fir Tree Partners | 1994 | $22.0M | 111 | - |
| Rockwood Capital | 1995 | $33.7M | 50 | - |
| Coreland Companies | 1990 | $45.0M | 125 | - |
| Maguire Properties | 1965 | $6.2M | 75 | - |
| Shorenstein | 1924 | $3.5M | 35 | - |
| Stoltz Management of Delaware | 1957 | $17.5M | 30 | 3 |
| Rreef | - | $540,000 | 5 | - |
| Continental Real Estate Companies | 1941 | $100.7M | 200 | - |
| Trammell Crow Co | - | $840.0M | 1,800 | - |
| NFR | 1989 | $120.0M | 175 | 2 |
CIM Group history FAQs
Zippia gives an in-depth look into the details of CIM Group, including salaries, political affiliations, employee data, and more, in order to inform job seekers about CIM Group. The employee data is based on information from people who have self-reported their past or current employments at CIM Group. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by CIM Group. The data presented on this page does not represent the view of CIM Group and its employees or that of Zippia.
CIM Group may also be known as or be related to CIM Group, CIM Group Inc, CIM Group LLC, Cim Group, L.P. and The Cim Group.