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CIM Buys Coors Field-Area Apartments
CIM has paid just over $100 million for luxury apartment towers in downtown Denver’s Arapahoe Square area near Coors Field. The 22-story tower, called X Social Community, offers a members-only club, private apartments and fully furnished co-living suites. The Denver Business Journal reports the X Denver 2 has 351 units.
The X Co. is active in six markets, with 5,000 beds in its portfolio and over $1 billion in construction activity.
The building, which is on the southern edge of the Five Points neighborhood, includes 35,000 square feet of amenity space and 14,000 square feet for co-working use by residents. The fourth and fifth stories are dedicated to shared amenities, including workspaces, a gym, a pool and spa, a lounge and a full-service kitchen.
CIM Group is a Los Angeles-based real estate owner, operator, lender and developer of real estate assets.
