CIM Group Acquires 166-Unit Domain WeHo Apartments in West Hollywood

CIM Group, in partnership with Hulic Company, has acquired the Domain WeHo apartment community located at 7141 Santa Monica Boulevard in West Hollywood. The seven-story property, which opened in 2017, features 166 residential units and 9,000 square feet of retail space. Over 30 of these units are designated as affordable housing, contributing to the local housing supply. The seller was RREEF Property Trust, a real estate investment arm of DWS Group, which had purchased the asset in 2019 for over $103 million.

This acquisition expands CIM Group's significant presence in West Hollywood, as the Domain WeHo property is situated directly across from The Lot at Formosa, a studio campus also under CIM Group ownership. The firm has also been active in other parts of the Westside, recently redeveloping a church into the 168-unit Coro apartment community in West Adams and opening The Read, a 75-unit property, also in West Adams.

The deal occurs amidst a dynamic Greater Los Angeles multifamily market, which saw a 5.5 percent vacancy rate in the second quarter, with renter demand surpassing new supply and average asking rents increasing year-over-year. For developers and investors, this transaction highlights the continued strategic value of well-located multifamily assets in the region, even as CIM Group navigates challenges with office properties in Northern California.