CIM Group Sells 215-Unit District at SoCo Apartment Community in Austin, TX

AUSTIN, Texas--(BUSINESS WIRE)--CIM Group announced today the sale of District at SoCo, a 215-unit apartment community with 328-space parking garage in Austin, Texas, which it acquired in 2013.

Built in 2012, District at SoCo is located in the heart of the popular South Congress district. The contemporary apartment community offers studio, one- and two-bedroom floor plans providing a stylish living environment with modern kitchens and bathrooms, in-unit washer and dryer, and outdoor patios and balconies.

District at SoCo is designed with four-story buildings around two outdoor community gathering areas. Outdoor amenities include a courtyard with games and a firepit, an outdoor kitchen, grilling stations and picnic areas, a resort-style swimming pool, and a dog park. Residents also have access to a Club Room, a full-service business center, and a 24-hour fitness facility.

The apartment community provides residents easy access to Austin’s active business hubs, parks and recreation options, and educational institutions in addition to the vibrant entertainment found in the South of Congress neighborhood known for its wealth of live music venues, shops, and dining.

CIM Group is an active owner, operator, and developer in Austin, bringing quality real estate uses to enhance the area as it does in other communities across North America. CIM Group’s Austin portfolio includes Onyx183, a 390-unit multifamily community located in Northwest Austin, as well as several office properties including the Penn Field Office Campus, Eastside Village, 1300 East 5^th St., 507 Calles, and 1021 E. 7^th Street. CIM Group also was a co-developer of the Seaholm Power Plant mixed-use redevelopment as well as The Independent luxury condominium tower.

For 30 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout North America.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.