CIM Group Sells 1,180-Unit Mason at Van Dorn Apartment Community in Alexandria, VA

ALEXANDRIA, Va.--(BUSINESS WIRE)--CIM Group announced today that it has sold Mason at Van Dorn, a 1,180-unit apartment community consisting of fourteen four- and five-story buildings spread across an approximately 25-acre site in Alexandria, Virginia. CIM Group acquired the community in December 2017.

Located at 140 South Van Dorn Street, Mason at Van Dorn provides residents spacious homes offered in a range of floor plans from studio to two-bedroom configurations. The property features an on-site convenience store and deli as well as two resort-style swimming pools, tennis courts, barbeque and picnic areas, and other outdoor gathering and recreation areas.

Over the course of its ownership and management of this substantial apartment community, CIM Group instituted a program of improvements to Mason at Van Dorn, which was built in 1972. Throughout CIM Group’s ownership, upgrades to the property’s communal areas and amenities were completed including modernizing the club house creating a host of gathering spots such as a kids’ room, business center, fitness center, lounges, and a theatre room. CIM Group also focused on the community’s outdoor recreation spots including the addition of a fully equipped kids’ playground and a grilling area and an upgrade to the large dog park. In addition, CIM Group enhanced resident services and added an Amazon Hub package area and Tide Dry Cleaning locker space.

As residences became vacant, CIM Group renovated with new flooring, cabinetry, appliances, fixtures, and lighting, as well as adding full-size washers and dryers in select units.

Mason at Van Dorn is located adjacent to WestEnd Alexandria, the prominent redevelopment of the 52-acre former Landmark Mall which includes the future Inova Alexandria Hospital Campus. Mason at Van Dorn, conveniently situated just off I-395 inside the Capital Beltway, is four miles from Old Town Alexandria and one mile north of the Van Dorn Metro Station.

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 the Americas.

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.