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CIM Group sells apartment complex next to old Landmark Mall property for $225 million

A 14-building apartment complex next door to the former Landmark Mall property recently sold for $225 million, the Washington Business Journal first reported.

The City’s Office of Real Estate Assessments confirmed the March 28 sale and the amount, which have not yet been posted online.

The property was purchased by Bridge WF II VA Mason Van Dorn LLC, a partnership between Florida-based Shoreham Capital and Utah-based Bridge Investment Group Holdings LLC, according to the Washington Business Journal.

Bridge Property Management is now managing the property, according to the Mason at Van Dorn website.

The 25-acre, 1,180-unit apartment complex was built in 1972, and was acquired by California-based CIM Group in 2017, according to a March 29 release. At the time it bought the property, Landmark Mall was about five years away from being demolished to make way for the 52-acre WestEnd and the Inova at Landmark developments.

CIM Group confirmed the sale of the property, but did not mention the price or buyer in the release. CIM Group also owns another large Alexandria property — the Southern Towers apartment complex near the intersection of Seminary Road and N. Beauregard Street.

CIM Group says it made a number of improvements to the Mason at Van Dorn Apartments property, including upgrades to communal areas, building a residential club house near one of the property’s two large swimming pools, as well as a playground with a grilling area. CIM Group also said they built a new business center, fitness center, theater room and kids room.

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