CIM Group has acquired The Vale at The Parks, a newly constructed mixed-use development in Washington, D.C., consisting of 301 apartment residences, 18,269 square feet of ground-floor commercial space and 316 parking stalls.
Located at 6800 Georgia Ave. NW, The Vale will be the first new construction multifamily rental building at The Parks at Walter Reed (The Parks), a 66-acre master-planned, mixed-use redevelopment of the former Walter Reed Army Medical Center. The Vale was developed by a joint venture of Hines, Urban Atlantic and Triden Development, the same team responsible for the redevelopment of The Parks.
“The Vale brings new residences to a vital metropolitan area served by public transportation and close to business centers and services, attributes that align with CIM Group’s community focus,” said Shaul Kuba, co-founder and principal of CIM Group. “In addition, The Vale is well-located in a mixed-use, historic redevelopment that is designed to create