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CIM Group Snags 2,346-Unit MF Property in Alexandria for $506M
CIM Group has acquired Southern Towers, a 2,346-unit multifamily property in Alexandria. The sales price was reported as $506 million. The seller was not disclosed.
Located at 4901 – 5055 Seminary Road, the property consists of five, 16 story high rise apartment buildings. The buildings total nearly two million square feet and were constructed between 1961 and 1965. Amenities at the complex include two large swimming pools, tennis courts and a playground set in a park-like setting as well as a fitness center in each building.
CIM Group’s residential portfolio in the greater Washington D.C. area now consists of more than 5,500 units. In Alexandria, CIM Group currently owns and operates Skyline Towers, a 939-unit residential community, Mason at Van Dorn, a 1,180-unit residential community, and Park Place at Van Dorn, a 285-unit residential community.
For comments, questions or concerns, please contact David Cohen
- ◦Sale/Acquisition
