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National  + Apartments  |  March 29, 2024
Paul Bubny
By: Paul Bubny

CIM Trades DC-Area Apartments for $225M

CIM Group said Friday it had sold Mason at Van Dorn, a 1,180-unit apartment community in Alexandria, VA. The Washington Business Journal reported the sale to a partnership of Shoreham Capital and Bridge Investment Group Holdings at $225 million. CIM acquired the community in December 2017.

Over the course of its six-year ownership and management, CIM 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, and as residences became vacant, they were renovated with new flooring, cabinetry, appliances, fixtures and lighting.

Mason at Van Dorn is located adjacent to WestEnd Alexandria, the redevelopment of the 52-acre former Landmark Mall which includes the future Inova Alexandria Hospital Campus. The property is four miles from Old Town Alexandria and a mile north of the Van Dorn Metro Station.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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