CIM Group breaks ground for Hollywood apartments

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Hollywood’s largest landlord broke ground Monday on a $20-million luxury apartment building just north of Hollywood Boulevard.

The developer is CIM Group, which owns the Hollywood & Highland entertainment center and the Sunset & Vine apartment tower along with several other large properties.

Its latest project is a five-story, 32-unit building at the northeast corner of Whitley Avenue and Yucca Street. CIM Group acquired the property at 1800 Whitley last fall, and construction is expected to be completed by summer 2012.

In 1998, CIM Group targeted Hollywood as an emerging urban district. Since then, it has acquired and developed a real estate portfolio that includes office, hotel, retail, multifamily residential and mixed-use properties.

-- Roger Vincent