CIM Group Sells 1,180-Unit Mason at Van Dorn Apartment Community in Alexandria, VA
March 29 2024 - 8:30AM
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.
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Karen Diehl Diehl Communications 310-741-9097
karen@diehlcommunications.com