CIM Group acquires hotel in Alexandria, Virginia

Virginia commercial real estate
Crowne Plaza Hotel Alexandria

CIM Group has acquired the 254-room Crowne Plaza Hotel in Alexandria, Virginia
with Carr Companies.The 12-story hotel is located at 901 N. Fairfax Street in Old Town Alexandria.

The acquisition of 901 N. Fairfax is another addition to CIM Group’s greater Washington, D.C. portfolio, which includes office, hotel, and residential properties.

In Alexandria, CIM currently owns and operates EOS Twenty-One, a 1,180-unit residential community and Park Place at Van Dorn, a 285-unit residential community.

SEE ALSO : CIM Group sells Manhattan building

Crowne Plaza Hotel Alexandria is situated on the Potomac River and boasts panoramic views of the Potomac River and Montgomery Park. The hotel also sits adjacent to the Mount Vernon Trail to the east, a popular walking and biking trail that connects George Washington’s Mount Vernon to Theodore Roosevelt Island, and is another outdoor amenity bordering the property.

901 N. Fairfax is easily accessible from key highways, with direct access from the George Washington Memorial Parkway, Route 1, and is near the Capitol Beltway (I-495).

Source:CIM Group