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CIM Group Provides $90M Loan for 247-Unit Community in Arlington
A fund managed by CIM Group has closed a $90.3-million loan to an affiliate of Carr Companies and the Oliver Carr Company for the acquisition of Columbia Crossing, a 247-unit apartment community in Arlington, VA. Loan proceeds will be used to complete interior and exterior renovations and upgrades on the property.
Columbia Crossing consists of six garden-style walk-up buildings and 324 parking stalls across 6.34 acres. The 1991-constructed community’s units 247 include one-, two-, and three-bedroom floor plans.
The property benefits from its central location on Columbia Pike, providing direct access to National Landing, Virginia Tech’s Innovation Campus, and major transportation arteries including I-395, Glebe Road, and Washington Boulevard. The property is less than two miles from the Pentagon and Amazon HQ2 and within a 10-minute drive from Reagan National Airport.
- ◦Sale/Acquisition
