CMCT, a REIT managed by CIM Group’s affiliates, has successfully transformed the top two floors of a three-story office building at 4750 Wilshire Blvd. into 68 upscale apartments in Los Angeles’ prestigious Brookside neighborhood. The property falls within the Park Mile Specific Plan and is now open for leasing.
The conversion project also retained around 30,000 square feet of ground-floor creative office space which was fully leased as of September 2024. This section will continue to operate under the address of 4750 Wilshire Blvd., while the residential units will have their own address at701 S. Hudson Ave.
According to CMCT, this conversion aligns with its investment strategy focusing on high-quality apartments and creative offices in markets with limited competition for development opportunities. As part of its asset-light development approach, CMCT partners with other investors to make equity investments at individual properties; Kanden Realty & Development,Taisei Corporation,and another institutional investor are co-investors in this project at4750 Wilshire.
