On the heels of an unfavorable profile in Bloomberg, local private equity firm CIM Group is again in the news. this time, The New Yorker‘s Anna Wiener is connecting the dots between the large developer and artisanal bakery Tartine. (Tartine’s former COO Chris Jordan developed the partnership in 2016; the bakery’s founders, Elisabeth Prueitt and Chad Robertson, “are reluctant to talk about the company’s exact relationship with CIM,” according to the New Yorker story.) The private equity group, which manages about 30 billion dollars in assets, invested in Tartine’s cafe and bakery business, including five locations in Los Angeles (Silver Lake, Pasadena, West Adams, West Hollywood, Santa Monica) and the now- closed Tartine Manufactory at the Row. Every Tartine outlet is situated in a CIM-affiliated property; Jillian Ressler, the daughter of CIM’s founder Richard Ressler, is Tartine’s vice president of brand.
Wiener touches on a number of pertinent topics in the piece, including unionizing efforts by Tartine employees and Prueitt claiming that “Tartine is in debt and struggling not to sink further,” but her exploration of the cuisine-real-estate business model is especially fascinating for any Angeleno who’s ever wondered just how all these Tartines landed in the Southland in the first place. With its roots in San Francisco and an avalanche of industry accolades, Tartine boasts the kind of “authenticity that a real-estate developer could only dream of cultivating.” Wiener shines a light on the role that food businesses like Tartine can play in increasing property values for developers: “The real estate is appealing in part because of the trendiness and quality of the goods; the production of the goods is twinned with the real estate.” Wiener notes that a developer may latch on to an “anchor tenant” like Tartine because of its potential to boost the “cachet” of a neighborhood by drawing in more new businesses and customers. Read the entire piece here.
A sausage party in West Hollywood
West Hollywood’s Strings of Life (SOL) — a Melbourne-inspired cafe helmed by Aussie chef Monty Koludrovic — is hosting a “Sausage Roll World Tour” in celebration of its second birthday. Find Korean-inspired sausage rolls from June 23 to 29, Greek-style sausage rolls from June 30 to July 6, and more. Sausage rolls are priced at $12. Follow SOL on Instagram for the latest details.
Find a Pride-inspired burger and milkshake at 25 Degrees
Burger hotspot 25 Degrees at the Hollywood Roosevelt is cooking up two specials in honor of Pride. The Queen B burger ($25) comes with a wagyu beef patty, truffle tremor cheese, microgreens, fried shallots, and black garlic aioli on a brioche bun. For sipping on the side is the Honey B Milkshake ($15) made with Jack Daniels, vanilla ice cream, honey, and whipped cream. A non-boozy milkshake can be had for $8.
Spam musubi workshops, donut decorating, and more in Little Tokyo
Head to Little Tokyo this Saturday and Sunday for a slew of fantastic food-centric events as part of the seventh annual Delicious Little Tokyo celebration. From hands-on workshops to self-guided food tours, there’s something for everyone on the schedule. See the complete list of events at Go Little Tokyo.
Head to Montebello for Eastside Pride
Montebello food hall BLVD MRKT plays host to the first-ever Eastside Pride event this Saturday. Free festivities include a drag show brunch, vendors curated by the Queer Mercado, a drag ball at Angry Horse, and more. Follow BLVD MRKT on Instagram for the latest updates.