CIM founders (left to right): Richard Ressler, Shaul Kuba and Avi Shemesh
From the December issue: The principals of the Los Angeles-based private equity firm the CIM Group know a thing or two about military strategy — two of them served as Israeli paratroopers before immigrating to the United States and teaming with a former Drexel Burnham executive to found CIM.
Perhaps it’s no coincidence, then, that CIM entered Manhattan with a real estate equivalent of “shock and awe.”
Virtually unknown to most local industry players until recently, CIM parachuted into Midtown in late 2009 — with a speed and decisiveness that surprised many of those still cautiously hoarding cash — and targeted distressed assets in prime locations.
Two years later, the firm has multiple beachheads around the city, and has established itself as a major New York City player, likely for the long haul. [more]
