CIM GROUP TOPS OUT THE INDEPENDENT – CONDOMINIUM TOWER IN DOWNTOWN AUSTIN
AUSTIN, TX – May 31, 2018 – CIM Group announced today that The Independent, its 58-story, 363-unit condominium tower has topped out, a significant milestone in the development of this iconic building in downtown Austin. At 685 feet, The Independent is the tallest building in Austin and with its glass-clad, stacked design it is an architecturally distinctive addition to the city skyline.
The Independent’s sleek and modern residences offer floor-to-ceiling windows, patios or balconies, premier interior finishes and 10-foot ceilings in a diverse mix of floor plans ranging from one- to four-bedroom units and penthouses, with many onsite amenities.
Set on approximately 1.7 acres at the corner of West 3rd Street and West Avenue, The Independent has an exceptional position at the center of an expanding, walkable downtown Austin district. It is surrounded by premier shopping, dining and entertainment destinations and also is directly across the street from the Seaholm Power Plant redevelopment, another CIM Group project, which consisted of transforming the historic 1950-era decommissioned power plant and its surrounding five acres into of a mix of office, residential, retail space as well as 1.5 acres of green space and community plazas.
CIM Group utilizes its broad expertise of developing, operating and repositioning of real estate assets to transform communities and create dynamic environments across the country, and brings its proven experience to the development of The Independent. For more than 10 years, CIM has been an owner and operator of real assets in Austin with properties including the Seaholm Power Plant mixed-use redevelopment, Penn Field office campus, District at SoCo apartment community, Hartland Plaza office complex, Eastside Village office building and The Independent condominium tower.
About CIM Group
Established in 1994, CIM is a vertically-integrated owner and operator of real assets for its own account, and on behalf of its partners and co-investors seeking to invest in urban real assets, net-lease assets, and other associated credit strategies, with a principal focus on North America. CIM’s real assets include urban residential, commercial, retail, hospitality, debt, and infrastructure investments as well as U.S.-based retail, office, and industrial net-lease. CIM’s broad expertise includes in-house research, acquisition, investment, credit analysis, development, finance, leasing and asset management capabilities. For more information, please visit www.cimgroup.com