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CIM Group

Urban real estate developer and lender

General Manager - VP

Full-TimePosted on 10/20/2026
$200k - $250k+ Bonus compensation
Senior
Bachelor's
Los Angeles, CA, USA
RemoteApproximately 25% travel to local sites and agency offices, plus at least quarterly travel to the Los Angeles corporate office.
Business & Strategy

About the job

Requirements
  • A bachelor's degree.
  • At least seven years of experience in the California water sector, such as agency, regulatory, or water storage experience.
  • Experience with grant management; Prop 1 experience is preferred, along with understanding how to optimize reimbursements.
  • Experience engaging with state, regional, or local water regulatory agencies, utility agencies, or control boards.
  • Experience in a problem-solving role within the water industry.
  • Experience with water project construction and/or operation.
  • Ability to manage workload autonomously and effectively.
  • Strong commercial awareness and the ability to apply commercial judgment.
  • Ability to manage competing tasks and priorities effectively.
Responsibilities
  • Collaborate with key stakeholders to develop and execute annual and long-term business plans.
  • Translate investment objectives, regulatory commitments, grant requirements, and customer needs into operating priorities, budgets, and milestones.
  • Maintain an integrated plan covering development, customer agreements, agency approvals, grant obligations, and operational readiness.
  • Identify business, regulatory, financial, and operational risks and recommend appropriate action to senior leadership.
  • Serve as the primary relationship manager with water agencies, watermasters, joint powers authorities, environmental agencies, and other governmental stakeholders.
  • Represent the water bank in agency meetings, public forums and hearings, technical working groups, industry associations, and community discussions.
  • Leverage existing relationships and build new relationships with State Water Project contractors, municipalities, irrigation districts, groundwater organizations, landowners, and prospective customers.
  • Monitor water policy, groundwater regulation, and agency actions affecting the asset.
  • Lead customer outreach and business development for water storage, recovery, transfer, and related services.
  • Manage requests for proposals, bidding processes, letters of interest, storage agreements, and other customer arrangements.
  • Partner with Investments, Legal, and Development to negotiate agreements consistent with project capacity, commercial objectives, and regulatory requirements.
  • Support development of pricing, service structures, operating terms, and allocation methodologies.
  • Manage compliance with funding agreements, grant milestones, reporting requirements, public-benefit commitments, and documentation requests.
  • Coordinate with Development, Finance, Accounting, and consultants to complete technical reports, reimbursement support, progress reports, and other grant deliverables.
  • Track eligible expenditures, grant budgets, deadlines, contractual obligations, and funding risks.
  • Support negotiation and completion of funding, public-benefit, operating, and regulatory agreements.
  • Partner with Development on feasibility studies, groundwater modeling, environmental review, permitting, engineering, construction, commissioning, and transition planning.
  • Represent customer and operational requirements in design and development decisions.
  • Support evaluation of wells, pump stations, conveyance infrastructure, turnout capacity, water quality, monitoring requirements, and put-and-take scenarios.
  • Develop a readiness plan covering staffing, procedures, agreements, maintenance, monitoring, emergency response, reporting, and customer coordination.
  • Lead the transition from development into active water bank operations.
  • Direct storage, recharge, recovery, conveyance, and delivery activities once the water bank becomes operational.
  • Coordinate operating plans with customers, partner agencies, watermasters, operators, and technical consultants.
  • Monitor water balances, pumping performance, groundwater levels, water quality, system capacity, and customer commitments.
  • Ensure compliance with storage agreements, operating rules, permits, monitoring plans, and reporting requirements.
  • Establish operating procedures, controls, escalation protocols, and emergency-response plans.
  • Coordinate inspections, preventive maintenance, repairs, testing, and capital-replacement planning.
  • Develop scopes of work, support consultant selection, negotiate terms, and monitor performance against budgets, schedules, and deliverables.
  • Hold consultants and contractors accountable for quality, timeliness, cost, and issue resolution.
  • Develop and manage operating budgets, long-term forecasts, and business-plan assumptions.
  • Monitor expenditures, contract costs, funding availability, and budget-to-actual performance.
  • Review invoices and consultant charges within delegated authority.
  • Maintain reporting on agency approvals, customer activity, grant milestones, agreements, budgets, risks, and operational readiness.
  • Prepare clear updates and recommendations for leadership, investors, agencies, and governing bodies.
  • Carry out supervisory responsibilities in accordance with the organization’s policies and applicable laws.
  • Maintain positive relationships with corporate support departments.
Desired Qualifications
  • Experience managing grants, preferably Prop 1 grants, and understanding how to optimize reimbursements.
  • A creative and innovative approach to solving problems and resolving issues, including proactively seeking opportunities to improve asset operational and financial performance.
  • Self-starter who contributes the breadth of skills and expertise needed to help the business grow and improve.
  • Inquisitive, detail-oriented, and self-motivated approach.

About the company

CIM Group is a real estate and infrastructure owner, operator, lender, and developer that focuses on urban areas with high growth potential. It acquires, develops, and manages properties and provides loans for real estate projects, earning revenue from rentals, sales, and lending activities. Its portfolio includes notable properties such as the Dolby Theatre in Hollywood, Tribune Tower in Chicago, and the Downtown Grand Hotel Casino in Las Vegas. The company also engages in community outreach, like meals programs for people with chronic illnesses and building community gardens. CIM differentiates itself by combining ownership, development, and lending under one group, plus a strong emphasis on community impact and urban development. Its goal is to be the premier partner for investors in real assets that serve communities and to create value for both investors and local communities through responsible, growth-focused real estate and infrastructure projects.

Company Size

1,001-5,000

Company Stage

Debt Financing

Total Funding

$607M

Headquarters

Los Angeles, California

Founded

1994

Get referred to CIM Group

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Simplify Jobs

Simplify's Take

What believers are saying

  • September 22, 2026 2535 Alsace opened, showing CIM still delivers infill housing.
  • June 18, 2026 Permanent Power closed a roughly $600 million Grape financing.
  • July 27, 2026 AHIF passed $315 million, and Fifth Third joined CIM's housing push.

What critics are saying

  • Goodtime Hotel foreclosure litigation on March 25, 2026 exposed CIM's hospitality-credit losses.
  • Central Tower and 1 Kaiser Plaza defaults signal office distress across CIM's Bay Area portfolio.
  • June 2026 reverse acquisition added $2.99 billion debt; integration failure risks capital strain.

What makes CIM Group unique

  • CIM combines ownership, development, lending, and operations across real estate and infrastructure.
  • Centennial Yards and Miami Worldcenter prove CIM can execute massive urban placemaking.
  • Permanent Power adds utility-scale solar, storage, and transmission to CIM's real-assets platform.

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Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Life Insurance
  • Disability Insurance
  • Health Savings Account/Flexible Spending Account
  • Unlimited Paid Time Off
  • Paid Vacation
  • Paid Sick Leave
  • Paid Holidays
  • Bereavement Leave
  • Hybrid Work Options

Company News

Free Republic
Oct 16th, 2026
Judge appoints receiver for 455-unit X Denver tower after no-show.

Judge appoints receiver for 455-unit X Denver tower after no-show. Hoodline ^ | October 12, 2026 | Ethan Morgan Posted on 10/16/2026, 9:39:25 AM by george76 A Denver judge has appointed a court receiver for the 455-unit X Denver apartment complex near Coors Field after no representatives of X Denver appeared at a hearing. Judge Heidi Kutcher appointed Trigild, a distressed real estate firm, as receiver for the tower at 3100 Inca St. following a hearing Friday that no representatives of X Denver attended. The appointment follows Mack Real Estate Group's request for a receiver, as detailed by BusinessDen. The $170 million loan backing X Denver was originated by Mack Real Estate Group in 2022 and went into default after reaching its maturity date in January 2025, according to the Denver Business Journal. Mack asked the court to appoint a receiver for the property. A Legal Playbook Years in the Making... Mack's involvement in X Denver's debt comes amid broader distress in developer The X Company's portfolio. In May 2025, Newmark was hired by Mack Real Estate Credit Strategies to market $325 million in nonperforming debt tied to both X Denver and its Phoenix counterpart, with $170 million attached to the Denver tower and $155 million to X Phoenix, X Denver is not the first local tower lost by The X Company. CoStar reported that CIM Group assumed ownership of its sister project, X Denver 2, at 2130 Arapahoe St., after issuing a $105 million construction loan. Part of a Wider Downtown Denver Reckoning... X Denver's receivership arrives amid broader distress in Denver's commercial real estate market. Trigild was separately named receiver in August for Republic Plaza, Colorado's tallest building, after owner Brookfield Properties defaulted on $230 million in mortgage debt, the Real Deal reported. The developer's troubles stretch beyond Colorado, too - Hoodline previously reported that a December trustee sale looms over X Phoenix, where Mack Real Estate Group scheduled the auction of Phase 1 over an unpaid $128 million loan after construction on Phase 2 stalled in late 2023. The company was founded in 2018 by CEO Noah Gottlieb, a former executive at Miami-based Property Markets Group, who built the business around combining co-living suites, traditional apartments, coworking space, and members-only social clubs, per the Real Deal. For now, Trigild's appointment as receiver puts the Inca Street tower in receivership while the fallout from the developer's defaulted debt continues to play out in court. | / | Click here: to donate by Credit Card Or here: to donate by PayPal Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794 Thank you very much and God bless you. | 1 posted on 10/16/2026, 9:39:26 AM by george76 To: dynachrome; MileHi; backspace; Balata; bboop; Ben Dover; Benito Cereno; BigEdLB; bluejean;... Colorado Ping ( Let me know if you wish to be added or removed from the list.) 2 posted on 10/16/2026, 9:41:04 AM by george76 (Ward Churchill: Fake Indian, Fake Scholarship, and Fake Art) To: george76 I'm a fairly longtime believer in REITs as a good income balancer in a diversified portfolio. Nifty way to add some real estate exposure without the direct headaches. Don't get me wrong - I'm not dumping (whether Twain or Will Rogers - the apocryphal "Buy land, they're not making any more of it" will never stop being true). I always do my due diligence regardless of prevailing conditions, but debt loads are becoming a REAL problem in all areas of investing and - especially in the real estate realm, I've throttled back my 'acceptable' line for debt load substantially. This is just one instance - a drop in the bucket (not even that) - but way too many stories like these popping up like rabbits. 3 posted on 10/16/2026, 9:47:31 AM by Capn Hayek (Capital is not responsible for Labor's lack of planning) To: Capn Hayek The 450-unit apartment complex has been in default of a $170 million loan since early 2025... The building's assessed value of $93.1 million is significantly lower than the outstanding loan balance, highlighting the severe financial distress surrounding the asset.= X Denver's assessed value is $93.1 million, or just 55% of its $170 million loan. 4 posted on 10/16/2026, 9:52:16 AM by george76 (Ward Churchill: Fake Indian, Fake Scholarship, and Fake Art) To: george76 Given a tight housing market, how can an apartment tower be valued for less than the loan? Or was too much commercial space built in? 5 posted on 10/16/2026, 11:59:54 AM by pierrem15 ("Massacrez-les, car le seigneur connait les siens") Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works. FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794

Urbanize Media LLC
Sep 25th, 2026
47 apartments completed at 2535 Alsace ave. in west Adams.

47 apartments completed at 2535 Alsace ave. in west Adams. The six-story building was developed by CIM Group. September 25, 2026, 6:05AM Steven Sharp The Mid-Wilshire-based firm recently announced the completion of 2535 Alsace, a six-story, 47-unit apartment complex located just north of Adams Boulevard. CIM Group utilized development incentives to permit a larger structure than otherwise allowed by zoning rules. In exchange, four of the new apartments are to be set aside for rent by very low-income households. The property includes a blend of studio and one-bedroom apartments, as well as amenities such as a rooftop deck. Roughly 400 square feet of office space is located on the building's ground floor. CIM also built an adjacent mixed-use building at 2599 Alsace, as well as similar structures at 5109 Adams and 5217 Adams.

MarketScreener
Sep 22nd, 2026
CIM Group completes and opens 2535 Alsace, 47-unit apartment community in West Adams neighborhood of Los Angeles.

CIM Group completes and opens 2535 Alsace, 47-unit apartment community in West Adams neighborhood of Los Angeles. Published on 09/22/2026 at 02:37 pm EDT S&P Capital IQ CIM Group announced the completion and opening of 2535 Alsace, a six-story, 47-unit apartment community in the West Adams neighborhood of Los Angeles. 2535 Alsace features a mix of pet-friendly studio and one-bedroom apartment residences designed for contemporary urban living. Community amenities include a rooftop deck, BBQ and lounge area, and on-site bicycle storage. Select residences offer private balconies, and the property also includes approximately 400 square feet of ground-floor commercial office space. Located just off West Adams Boulevard on Alsace Avenue, 2535 Alsace is situated in one of Los Angeles' most dynamic neighborhoods. The community provides residents with convenient access to local restaurants, retail destinations, employment centers and transportation options, with connectivity to neighborhoods throughout the city. 2535 Alsace includes four affordable units reserved for households earning no more than 50% of the Area Median Income, as defined by the U.S. Department of Housing and Urban Development, and is located within a Qualified Opportunity Zone. (C) S&P Capital IQ - 2026

Yahoo Finance
Sep 8th, 2026
CIM Group hires Adam Lerer as managing director for real estate equity expansion

CIM Group has appointed Adam Lerer as Managing Director, Investments, expanding its Real Estate Equity team. Lerer will focus on sourcing, structuring, and executing opportunities across CIM's real estate strategies, including core, value-add, net lease, impact, and Opportunity Zone investments. Lerer brings nearly 20 years of commercial real estate experience. He previously served as Head of Special Situations Group, America at PIMCO Prime Real Estate, overseeing debt restructuring for a $14 billion loan portfolio. He also led PIMCO's US real estate acquisitions across multiple sectors. His earlier career included roles at Decron Properties, Norges Bank Investment Management, and Goldman Sachs. Lerer holds a BA in Economics from New York University and will be based in Los Angeles. Since 1994, CIM has delivered over $60 billion in real estate and infrastructure projects across the Americas.

Associated Press
Aug 6th, 2026
CIM Group's Permanent Power appoints Steve Vavrik as CEO to scale $8B energy platform

Permanent Power Company, a CIM Group portfolio company focused on US power assets, has appointed Steve Vavrik as chief executive officer. Vavrik brings over 25 years of experience in power plant development, operations, finance and trading across multiple energy sectors. He previously founded and led Broad Reach Power and served as chief executive of Earthrise Energy, developing more than $8 billion in solar, wind and battery projects. The company's initial portfolio includes approximately 1,200 MW of solar photovoltaic capacity, 690 MW of battery storage capacity and 15 miles of transmission infrastructure in California. Permanent Power Company aims to address growing energy demands through long-term ownership and operation of power assets, with particular focus on projects in qualified rural Opportunity Zones across the United States.