CIM GROUP ACQUIRES NEWLY-CONSTRUCTED APARTMENT PROPERTY IN WASHINGTON, D.C.
Washington, D.C.– August 7, 2018 –CIM Group today announced that it has acquired Trellis House, a newly-constructed, 6-story, mixed-used property in Washington, D.C.’s Shaw/U Street Corridor. The property consists of 319 residential units and approximately 11,000 square feet of ground-floor retail space.
At 907 Barry Place NW, Trellis House is situated at the intersection of two of Washington, D.C.’s most vibrant neighborhoods, Shaw and the U Street corridor, both known for their rich cultures, histories, and music scenes. Trellis House is a short walk from the area’s diverse offering of shops, restaurants, nightclubs, galleries, and music venues, and is also located adjacent to Howard University.
Trellis House is proximate to public and alternate transportation options, including the Green Line subway that provides connections to the entire Metro network. In addition, two nearby Capital Bikeshare stations will give the property’s residents access to thousands of bikes at docks across the city. The property also has direct access to a 12-acre public park with an Olympic-sized pool, track, and playground as well as tennis courts, basketball courts, and baseball fields.
Construction on Trellis House was recently completed, and its new units are ready for move-in. The property’s unit mix includes studios, one-bedrooms, two-bedrooms, and townhomes. All residences feature contemporary designs with modern finishes and fixtures as well as in-unit washers and dryers. Generous community gathering spots, amenities, and services include a 12,000-square-foot courtyard and pool deck with fireplaces and grill stations, spa-quality fitness center with spin stations and a yoga studio, club and game room, test kitchen, co-working area, rooftop observation deck, pet spa, and 24/7 concierge.
CIM has been an active owner, developer, and operator in the greater Washington, D.C. area for more than 15 years, and has developed or operated more than 4,000 residential units in the greater Washington, D.C. area. CIM was attracted to Trellis House in part because of its sustainable green building status by achieving LEED certification. Trellis House is an infill development that provides desirable new housing in a walkable area, aligning with CIM’s community focus. Since its founding in 1994, CIM has been committed to enhancing its properties by increasing sustainability, efficiency, and quality for tenants, residents, and visitors as well as improving the character and value of the communities in which it owns and operates properties.
For leasing information please visit: https://www.trellishousedc.com/
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, and lender. Since 1994, CIM has led more than $56 billion of projects in communities across the Americas on behalf of its own account and its partners, co-investors, and shareholders. CIM’s broad in-house expertise includes decades of research, acquisition, credit analysis, development, finance, leasing, and asset management experience in urban real assets, net-lease assets, and other associated credit strategies. CIM seeks to maximize its disciplined approach and extensive in-house expertise by creating value in projects, which ultimately enhances communities. For more information, visit www.cimgroup.com.