Acquisition to support housing needs for seniors and residents with disabilities

CIM Group, a leading real estate and infrastructure owner, operator, lender and developer, and Bryant Group Ventures, founded by influential leader and entrepreneur John Hope Bryant, announced today that its Affordable Housing Impact Fund (the “Fund”) has acquired FAME Arms, a 40-unit senior housing community in Los Angeles.

Located at 2420 S. Western Ave. in West Adams, the approximately 22,100-square-foot FAME Arms was built in 1990 by the First African Methodist Episcopal Church (FAME) of Los Angeles. The property comprises 40 one- and two-bedroom residences serving low-income seniors and individuals with disabilities.

As part of the acquisition, the Fund negotiated an early extension of the existing Project Based Section 8 HUD contract, preserving the long-term affordability protections of this asset for an additional 20 years. Anticipated planned improvements will focus on addressing deferred maintenance while supporting the ability of existing residents to remain at the property.

“I grew up in the area and the late Reverend Dr. Cecil 'Chip' Murray, who was pastor of the First African Methodist Episcopal Church when this property was built, helped raise me and shape the person I am today,” said John Hope Bryant who is the Founder, Chairman and CEO of Operation HOPE in addition to his above mentioned role with Bryant Group Ventures. “Returning here with investment capital and a commitment to preserving housing for seniors makes this a full-circle moment for me. This is an opportunity to support some of my community’s most vulnerable residents while helping address the immense need for affordable housing.”

CIM-BGV Impact Ventures’ Affordable Housing Impact Fund has a total investment capacity of more than $370 million through fund equity and anticipated access to loan capacity. Investors include Flagstar Bank, Truist Bank, City National Bank, Fifth Third Bank and KeyBank, among others with whom CIM and Bryant Group Ventures have longstanding relationships.

“CIM Group has a long history of investing in West Adams, and we believe strongly in its continued growth,” said Shaul Kuba, Co-Founder and Principal, CIM Group. “With the acquisition of FAME Arms, we are pleased to bring our local knowledge and experience to an important housing asset while continuing to support the long-term success of the community.”

FAME Arms is located in the West Adams corridor, strategically located in the path of growth as Los Angeles expands south of the I-10 freeway and nearby Culver City developments push closer toward West Adams. CIM Group has significant experience investing in West Adams and contributing to the neighborhood’s revitalization, with investments across residential, retail and creative office properties.

CIM-BGV Impact Ventures combines CIM’s vertically integrated expertise in real estate, credit, and infrastructure investment and operations with Mr. Bryant’s strong track record of business and investment expertise and seeks to invest in opportunities that create and preserve affordable housing across the U.S. through the acquisition of existing properties and ground-up development. It also seeks to provide access to programs that support financial literacy education and promote long-term financial security and well-being.

For more information, visit www.cimbgvimpactventures.com.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. For more information, visit www.cimgroup.com.

About Bryant Group Ventures

Bryant Group Ventures (BGV) is the primary business leadership and engagement platform tied to John Hope Bryant Enterprises (JHBE), which is a family of companies, organizations, and associated enterprises founded by entrepreneur and philanthropist John Hope Bryant. As the strategic umbrella for several mission-driven organizations—including Operation HOPE, Bryant Group Advisors, and BG Digital Media, which platforms his highly successful podcast with iHeart Media, his best-selling book series, and Straight Talk Live Video Series with more than 1 billion views since 2024, BGV blends purpose with performance to create lasting social and economic change. Through public-private partnerships, thought leadership, and scalable ventures, JHBE and Bryant Group Ventures champion what Bryant calls the “silver rights movement”—the next chapter in the fight for opportunity, ownership, and dignity. Bryant’s associated ventures are responsible for more than $5B in deployed capital in underserved communities nationwide.

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