Partner Matthew Parrott Quoted in Crain’s New York on CIM Buying Spree

Matthew Parrott, a partner in the firm’s Real Estate Litigation Practice, was quoted in an article in Crain’s New York Business on recent purchases made by Los Angeles-based CIM Group in New York. In a very short time in the local market, the firm has already entered into six transactions, including the purchase of William Beaver House, a 319-unit condo conversion. CIM bought $66 million in debt at a discount from a fund controlled by Blackstone Group and took over the 209 unsold units. Mr. Parrott, who represented CIM on the deal, says, “They appear to be making their mark in New York.” He adds, “This is a great time to come in and pick up distressed assets.” (“L.A. Firm Hits NY at a Trot,” January 16, 2011)