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CIM Group’s Bay Area Foreclosure Crisis | Real Estate News
CIM Group’s Bay Area office empire is crumbling as two historic towers, 703 Market and 30 Third Street, head toward foreclosure after defaulting on a $98M loan — the fallout from Unity Software’s imminent exit and a market that’s turned against them. A receiver is now in charge, racing to find new tenants while lenders eye a sale or takeover by year’s end. It’s not just these buildings — CIM’s also facing foreclosure on 55 Hawthorne and defaulted on Kaiser Permanente’s Oakland HQ. Once a bold bet on downtown revitalization, these properties now symbolize a brutal reckoning for commercial real…
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