CIM Group borrows $63.7M from Oaktree Capital for condo in Crown Heights

CIM Group through the entity 09 Montgomery Owner LLC as borrower signed a loan agreement with lender Oaktree Capital through the entity 111 Montgomery Gap, LLC, As Agent valued at $63.7 million for 157 unsold condo units at 111 Montgomery Street in Crown Heights. The deal closed on February 2, 2021 and was recorded on February 9, 2021.

The condo inventory loan financing added $11.9 million in new debt.
Direct link to Acris document. link
The signatory for the lender was Bryan Sather and Jessica Dombroff.