CIM Group has acquired the Domain WeHo apartment community in West Hollywood in partnership with Hulic Co., Ltd., expanding its multifamily holdings in the neighborhood. The 166-unit property was purchased from an undisclosed seller; financial terms of the transaction were not released. According to reporting cited from LA Business First, the prior owner, RREEF Property Trust, paid more than $103 million for the asset in 2019, though that earlier figure does not reflect the pricing for the current sale.
Domain WeHo is a seven-story multifamily building that combines residential units with ground-floor commercial space along Santa Monica Boulevard. The property includes 9,185 square feet of street-level retail at 7141 Santa Monica Boulevard, just west of La Brea Avenue, in a corridor described as an active business and entertainment area with restaurants, retail, entertainment venues and creative office space. The community opened in fall 2017, making it a relatively recent addition to the local multifamily stock.
The residential component of Domain WeHo offers a mix of studio, one-bedroom and two-bedroom apartments. Of the 166 total units, 33 are designated as affordable, providing an income-restricted component within the broader market-rate community. The combination of unit types and affordable housing allocation positions the property to serve a range of renter segments within West Hollywood.
In addition to the new acquisition, CIM Group has an existing footprint directly across the intersection from Domain WeHo. LA Business First reported that the apartment property sits kitty-corner from The Lot at Formosa, a studio campus also owned by CIM Group. That studio property underwent a capital markets event last year when CIM transferred ownership to a shell company it controls as part of a recapitalization, illustrating the firm's ongoing effort to actively manage its holdings in the immediate area.
The Domain WeHo purchase reinforces CIM Group's presence along Santa Monica Boulevard and near The Lot at Formosa, aligning a multifamily asset with an established studio campus in the same intersection. Partnering with Hulic Co., Ltd. on the acquisition adds another institutional owner to the property's capital stack, while the building's ground-floor retail and proximity to a major business corridor underscore the mixed-use and employment-adjacent nature of the location.
