CIM Group and Partner Acquire Onyx183 Apartment Community in Austin

AUSTIN, Texas–(BUSINESS WIRE)–CIM Group and its partner announced today the acquisition of Onyx183, a 390-unit apartment community located at 6800 McNeil Dr. in Austin, Texas.

Onyx183 comprises 390 residences, configured as one-, two- and three-bedroom floorplans, spanning over 21 acres in the highly desirable Parmer Corridor of Northwest Austin. The community offers residents an extensive, recently-renovated amenity package including two swimming pools and poolside grills, a picnic and barbeque area, a pet park and pet spa, a modern fitness center, and resident clubhouse.

Originally built in 1995, the community was recently partially renovated by prior ownership and offers high-end unit features such as Whirlpool stainless steel appliances, quartz countertops with undermount sinks, subway tile backsplashes, new cabinets, and updated bathrooms.

Onyx183 is located in the Parmer Tech Corridor, a hub for Fortune 500 Companies and large-scale technology campuses in Austin, including companies such as Apple, GM, PayPal, Oracle, HP, and Amazon. In addition, the community is located within a 10-minute drive of the Domain, and 20-minute drive of Downtown Austin.

CIM Group is an active owner, operator, and developer in Austin, bringing quality real estate uses to enhance the area as it does in other communities across North America. CIM Group’s Austin office portfolio includes the Penn Field Office Campus, Eastside Village, 507 Calles, 1300 E. 5^th Street, and 1021 E. 7^th Street. CIM Group was a co-developer of the Seaholm Power Plant mixed-use redevelopment as well as The Independent luxury condominium tower.

For more than 25 years, CIM Group has applied its community-focused investing approach by utilizing its broad expertise in owning, developing, repositioning, and operating real estate assets to enhance communities throughout the Americas.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.

Contacts

Karen Diehl

Diehl Communications

310-741-9097

karen@diehlcommunications.com

Sarah Troutt

Mendel Communications

917-664-0319

sarah@mendelcommunications.com