CIM Group and Denihan Hospitality Group to Build The James Los Angeles to Open in 2016

A West Coast Debut for the Brand and West Hollywood's First Ground-Up Hotel in 30 Years

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. March 07, 2014

LOS ANGELES - March 7, 2014 - CIM Group and Denihan Hospitality Group announced today an agreement to bring The James hotel brand to the Los Angeles area, where it will be situated in the heart of the iconic Sunset Strip at the southeast corner of Sunset and La Cienega Boulevards in West Hollywood. The James Los Angeles, the first new ground-up hotel in West Hollywood in approximately 30 years, will be comprised of two 10-story towers with 286 rooms, two restaurants, rooftop and lobby bars and approximately 10,000 square feet of meeting space - with spectacular views of the Los Angeles area.

CIM Group, the owner and developer of the two-block Sunset La Cienega mixed-use development, selected Denihan Hospitality Group as its joint venture partner for the boutique hotel portion of the project. Denihan, a full-service hotel management company that owns, develops, and operates boutique hotels in major urban U.S. markets, is expanding its presence and The James brand to Greater Los Angeles with The James Los Angeles, which is anticipated to open in 2016.

"We selected The James brand as it brings an inspired guest-experience to West Hollywood and the Greater Los Angeles area," said Shaul Kuba, Founding Principal of CIM Group. "The hotel's attention to detail and premier amenities complements the distinctive Sunset La Cienega project underway at this legendary Sunset Strip location."

CIM, an investor in communities throughout North America, is the largest commercial real estate owner in Hollywood with other investments in West Hollywood. CIM has designed and is developing both The James Los Angeles and the two eight-story residential towers directly across La Cienega Boulevard that will consist of approximately 190 residences and approximately 40,000 square feet of prime street retail space.

Sunset La Cienega is surrounded by the many retail, restaurant and entertainment venues in West Hollywood, and will feature plazas and public spaces designed to enhance the pedestrian experience on the Sunset Strip.

"We are excited to be partnering with CIM in one of the most prominent developments in West Hollywood in years," said David Duncan, President of Denihan. "CIM has selected The James as the perfect boutique hotel brand for this location; built with warm, modern design, and enriching the guest experience through authentic, local cultural experiences and intuitive service. As a brand, The James is mindful of the needs of our neighbors, and we look forward to becoming an integral part of the West Hollywood community."

The James Los Angeles will be the fourth hotel operating under the brand, joining The James Chicago, The James New York and The James Royal Palm, Miami.

CIM identified the city of West Hollywood as an urban district that meets the firm's strategic investment guidelines, and made its first investment in the city in 2005. Since then, it has acquired and developed a portfolio of properties in West Hollywood that includes office, retail, studios, and multi-family residential uses.

About CIM Group

CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in three primary strategic categories: repositioning and development projects in established and emerging urban areas; well-positioned operating properties in transitional and established districts; and infrastructure. CIM manages three distinct portfolios, including opportunistic, stabilized and infrastructure funds, each of which are diversified by geography and type of property within that risk profile. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area and Bethesda, Maryland. For more information, please visit www.cimgroup.com

About Denihan Hospitality Group

Denihan Hospitality Group is a privately-held, full-service hotel management and development company that owns and/or operates 14 boutique hotels in major urban markets in the U.S. Over the past 50 years, the Denihan family has built a world-class lodging investment platform within the boutique hotel space, creating value by acquiring, repositioning and managing independent hotels.

The Denihan portfolio includes properties operating under The James and Affinia Hotels brands, as well as Manhattan luxury independents, The Surrey and The Benjamin, and additional independent affiliates in New York City. Denihan's hotels also include an impressive list of high profile chef-driven restaurants and bars.

The company's uniquely guest-centric approach, refined through three generations of Denihan leadership, has made it an industry leader in hospitality, property and restaurant development, as well as hotel operations, management and marketing. More details can be found at http://www.denihan.com.

About The James

In the realm of hospitality, The James Hotels, with ideally situated locations in Chicago, New York and Miami, are authentic, warmly modern, residentially-styled luxury hotels that deliver an artistically inspired blend of exquisitely hand-crafted design surrounded by environmentally thoughtful details. The James defines luxury liberated from tradition; this core philosophy is evident in the properties' residential yet social environment and personal, intuitive service. In 2016, The James will introduce its newest property, The James Los Angeles, located in West Hollywood. For more information, follow The James Hotels on Twitter, twitter.com/jameshotels, Facebook facebook.com/JamesHotels, http://instagram.com/jameshotels/# and Pinterest, pinterest.com/thejameshotels/, in addition to jameshotels.com.