CIM Group sells apartment community in Houston

CIM Group has sold the 246-unit Ashton on West Dallas apartment community in Houston, which it acquired from the developer upon its completion in 2013.

Ashton on West Dallas provides one- and two-bedroom residences in a four-story, garden-style building located at 1616 W. Dallas Road in the Montrose District of Midtown Houston. The modern residences feature abundant floor-to-ceiling windows, wood floors, stone counters, and in-unit washer and dryer. The community has an array of popular amenities, including an expansive resort-style swimming pool, outdoor grilling stations, clubhouse, fitness center and dog park, and it benefits from improvements such as new carpet throughout the common areas and a new access control system and gate.

“CIM Group identified Midtown Houston as an area that was evolving, fueled in part by a cultural resurgence with artists and galleries locating in the area as well as fresh restaurant concepts and an eclectic nightlife. There was insuffi