CIM Group Sells 276-unit The Argonne Apartment Building in Washington DC

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The Argonne
The building, constructed in 1923, features studio to three-bedroom floorplans and offers amenities such as a swimming pool, fitness center, conference center, yoga room, and dog park.

CIM Group has sold The Argonne, a 276-unit apartment building in Washington, D.C., which was acquired in 2013. Terms of the sale were not disclosed.

Located at 1629 Columbia Road NW, the building is near the Columbia Heights Metro station. During CIM Group’s ownership, The Argonne underwent upgrades and modernization, including improvements to the lobby, common areas, corridors, and façade.

The Los Angeles-based real estate firm recently sold Mason at Van Dorn, a 1,180-unit apartment community in Alexandria, Virginia for $225 million. CIM has also proposed to convert a six-story South End office building into 91 apartments, seeking a tax break from the city for the project.

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Our in-house team of experts works together to identify and create value in real assets, benefiting the communities in which we invest. Back in 1994, our three founders focused on projects in Southern California neighborhoods. Today, we’re a diverse team of more than 1,000+ employees with projects across the Americas. Our projects have delivered jobs; created comfortable places to live, work and relax; and provided necessary and sustainable infrastructure. Our focus on enhancing communities is unwavering, and we’re striving to make an even greater impact in the years to come.