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May 13, 2020  

New Bid Revives Big Va. Apartment Trade

CIM Group has negotiated a lower purchase price for a massive apartment complex in Northern Virginia, after initial talks with the seller stalled amid the coronavirus outbreak.The Los Angeles investment manager has now agreed to pay roughly $510 million for the 2,311-unit Southern Towers complex in Alexandria, setting the stage for the biggest multi-family trade ever in the Washington area.CIM was among a number of investors that submitted bids...

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