CIM Group Sells The Argonne, 276-unit Apartment Building in Adams Morgan Neighborhood of Washington D.C.

WASHINGTON--(BUSINESS WIRE)--CIM Group announced today the sale of The Argonne, a 276-unit, eight-story apartment building that was acquired in 2013.

Built in 1923, the Argonne is a handsome brick building offering historic charm with residences designed in studio to three-bedroom floorplans. Residents have access to many amenities including a swimming pool, fitness center, conference center, yoga room and dog park. Under CIM Group’s management, The Argonne has undergone a program of upgrades and modernization including to the building’s lobby, common areas, corridors and façade.

Located at 1629 Columbia Rd. NW at the corner of Columbia Road and 16^th Street NW, residents are walking distance to the Columbia Heights Metro station providing regional connectivity. The Argonne skirts the Columbia Heights neighborhood and is convenient to Washington DC’s many historic neighborhoods, cultural attractions, hubs of business and government, as well as parks, shopping, dining and entertainment.

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.