OAKLAND, CA – CIM Group announced that it has completed construction of Channel House, an eight-tale residential community, featuring 333 apartments and ground floor retail, at 40 Harrison Street at Jack London Square, a 12-acre entertainment and business destination on Oakland s waterfront. Channel House is bounded by Embarcadero West, Alice Street, and Harrison Street, and is also adjacent to the San Francisco Bay Trail.
Channel House is located on one of three land parcels, which CIM bought in March 2016, along with seven buildings in Jack London Square — three office buildings with ground and second floor retail; three retail buildings; and a parking structure with ground floor retail.
CIM Group brings its long-standing development and operational expertise to enhance Jack London Square. The development of Channel House and ongoing leasing activities at Jack London Square advance CIM s program to bring a complementary mix of uses and offerings that appeal to residents, visitors, and tenants. Channel House residents will have the area s many shopping, dining, entertainment, and recreation options at their doorstep.
The apartment building s architectural design takes full advantage of its waterfront location with a glass façade providing sweeping bay views, balconies, and landscaped courtyards. The building offers residents a host of on-site amenities including outdoor terraces and lounges, a fitness center, and a bike storage and repair facility. Residences are configured as studio, one- two- and three-bedroom floor plans. Approximately 2,000 square feet of ground floor retail will further enliven the pedestrian street experience.
CIM has been involved in the Greater Bay area since 2001, when it identified the community as possessing the attributes that fit its stringent criteria for qualified communities, which includes established and emerging urban areas with solid infrastructure and transportation networks. CIM s first Oakland acquisition took place in 2007, and it has remained an active owner and operator in the area. In addition to Channel House, CIM Group recently debuted 1150 Clay Street, a 16-tale, 288-unit apartment building, and has just completed the sale of Uptown Station, the redevelopment of a former department store located in the Uptown district of downtown Oakland into a 355,000-square-foot office building leased by Square.

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BALTIMORE, MD – HASTA Capital has bought The Zenith, a 21-tale class A+ high-rise with 191 apartment units and 6,340 feet of ground-floor retail located in the heart of downtown Baltimore.
Built in 2007, The Zenith is located next to the University of Maryland Medical Center and sits directly across the street from Oriole Park at Camden Yards, home to the Baltimore Orioles. Approximately 1/3 of the apartments at The Zenith have stadium views into the Camden Yards ballfield.
HASTA plans extensive renovations to the common areas and amenities and upgrades to the property s apartment units. The Zenith is HASTA s 7thmultifamily acquisition in the Mid-Atlantic region.
We believe the healthcare and education sectors will continue to be key drivers of US economic growth. We plot to make significant investments into the building, positioning the Zenith as the one of the premiere places to live in downtown Baltimore, said Mark Hafner, CEO of HASTA. The Zenith is a prime example of our strategy of acquiring high-quality, well-located assets and generating alpha through implementation of our operational and capital improvement strategies.
The US multifamily rental sector continued to show its resiliency during 2020, confirming it as the most attractive investment alternative in commercial real estate, said Rodrigo Suarez, COO of HASTA.

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JACKSONVILLE, FL – Florida based Main Street Residential, a southeast U.S. regional multifamily investment group, announces the buy of Belle Rive Club Apartments in Jacksonville. CBRE represented KRI Properties to transact the sale to Main Street Residential.
Belle Rive Club is a 104-unit apartment complex in the heart of Jacksonville’s most desirable multifamily submarket and located in the Southside Blvd./Butler Corridor submarket, one of the largest, and perhaps the most resilient, in Jacksonville with over 17 million square feet of Class-A office space and employing over 58,000 area residents. Jacksonville is the largest city by land area in the contiguous United States, the most populous in Florida and one of the most military-friendly in the country.
Main Street Residential Managing Partner, Todd C. Marshall, states that, “We are pleased to add Belle Rive Club to our investment portfolio. The previous owner focused capital expenditures on the exterior and common areas. With this acquisition, Main Street Residential’s value-add Signature Renovation Program will upgrade all unit interiors and enhance exterior amenities to compete with recently renovated rental properties in the submarket. The property is in a very desirable location evidenced by the ease of commute and proximity to major employers and Jacksonville’s main retail corridor.”
Mr. Marshall went on to say, “To our knowledge, all developable sites along the Butler Corridor from I-95 to the 295 Beltway are spoken for, making this an extremely valuable investment property in one of the nation’s Top 10 rent growth markets.”

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