July 24, 2020
CIM Group closed on a $95.6 million bridge loan provided to Stockdale Capital Partners, the owner of Galleria Corporate Center in Scottsdale. The property includes a roughly 546,000-square-foot creative office building connected by a skybridge and an adjacent ten-story parking garage located at 4301 – 4343 North Scottsdale Rd.
The property, located in the heart of Old Town Scottdale, was rated a 90 walk score due to its close proximity to the best collection of restaurants, nightlife, retail, and hotels in the area. Galleria Corporate Center is also a short walk to Scottsdale Fashion Square.
CIM is a Los Angeles-based owner, developer and operator of commercial properties. The financing reflects CIM’s strategy of also providing construction, bridge, and repositioning loans to developers of condominiums, apartments, hotels, mixed-use and entertainment projects in major markets across the United States.
For comments, questions or concerns, please contact Dennis Kaiser