MIAMI, FL – CIM Group announced that it has topped out construction of the two eight-tale towers set above the ground floor retail and three levels of office space which comprise CIM s significant mixed-use development at 2201 N Miami Avenue in the Wynwood Arts District of Miami. The development, which is a major contributor to the evolving Wynwood district, includes approximately 60,000 square feet of office space, 27,000 square feet of street-level retail and studio space, 257 apartments and approximately 480 parking stalls. The 1.78-acre site spans a full city block bounded by NE 22nd and NE 23rdStreets, with approximately 250 linear feet of frontage on N. Miami Avenue to the west and fronts the Brightline Rail to the east.
Three office floors are located above the street-level retail and studio space and extend across the full block making expansive office space that allows for flexible configurations and the ability to divide the approximately 20,000-square-foot floor plates into office suites. The newly-constructed raw space provides the user the ability to design interiors to meet individual needs as well as a fresh approach to delineated employee spaces and distancing that reflect the demands of our new environment. Abundant floor-to-ceiling windows infuse the space with natural light, while 12-foot high ceilings add to the spaciousness.
Set above the retail and office base are two eight-tale towers, at the northern and the southern ends of the block, providing contemporary apartments in a variety of sizes and floor plans, from studios to three-bedroom units.
The development has a central position in Wynwood, a distinctive area in the urban core of Miami, nationally recognized as a center for arts, innovation and culture, as well as one of the major settings for Art Basel, and one of the world s largest street art installations. The ground floor retail space will accommodate a variety of shops, cafes and restaurants, galleries or other businesses that desire a prominent location in Wynwood.
The Wynwood Arts District has been transitioning from an industrial zone to a flourishing center for art, fashion and creative enterprises, with rehabilitated factories and warehouses repurposed for galleries, studios, bars, workshops, and offices — an evolving neighborhood, which includes more residential offerings.
CIM has been involved in the greater Miami region for more than 10 years and brings its proven real estate development and operational expertise to this significant mixed-use project in Wynwood. CIM is co-developing the property with One Real Estate Investment. Among CIM s other projects in the area is Caoba, a 444- unit, 43-tale apartment tower, which welcomed residents in January, and is a part of the master plotted 27-acre mixed use Miami Worldcenter project in which CIM is also an owner and co-developer.
The project is anticipated to be complete in mid-2021. CIM bought the fully-entitled site in October 2018.

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TYSONS CORNER, VA – South Florida real estate firm PointOne Holdings has partnered with the NRP Group to develop a 390-unit luxury Class-A multifamily community in the growing Metro Washington DC submarket of Tysons Corner, Virginia.
Highland District will be a 5-tale midrise community featuring a spacious resident clubroom with gaming rooms, working areas and a doorman, infinity edge pool, yoga lawns and other outdoor activity areas, outdoor grilling areas, package concierge service warehouse-style fitness center with separate spin and cardio studios. Unit interiors will feature high-end, condo-quality finishes.
Tysons Corner is one of the fastest growing Live + Work + Play markets in the country. The area is experiencing an economic boom fueled by employment growth, significant development as well as the recently opened Silver Line DC Metro extension.
Highland District will delight in brilliant walkability to over 20,000 jobs at the Capital One Headquarters, Northrop-Grumman and MITRE. Additionally, Amazon HQ2, Facebook, Microsoft, KPMG, and Google have also recently leased office space in Northern Virginia. Residents will be able to easily walk to the Washington DC Silver Line Metro Station and to over 2.1 million square feet of luxury amenities including The Tysons Galleria, Tysons Corner Center, restaurants, a new amphitheater and an 80,000 square foot urban Wegmans supermarket.
We are honored to partner once again with NRP on this unique residential development project, said Leo Peicher, PointOne Holdings managing partner. We are also enormously thankful to our investors, who know this tremendous opportunity and who, notwithstanding the existing challenges, have supported our choice to go forward with this project, knowing that when it is delivered, it will be exceptionally well-positioned.
We are excited to be breaking ground on our latest development, Highland District Apartments in Tysons Corner, Virginia, said Ben Colonomos, PointOne Holdings managing partner. We believe that our proactive and thoughtful approach to this project will help us overcome all near-term challenges, and allow us to deliver a premier property in a solid market at a time in which there will be a limited supply of similar housing options.
We are thrilled to start construction on a second development with PointOne as our capital partner, says George Currall, Principal and Managing Director of Capital Markets for the developer, contractor and management company – The NRP Group. Between Austin and Washington, DC, they have selected two of the strongest markets in the nation, and specific sites within these markets that have a fantastic deal of potential upside. PointOne devotes a lot of attention to due diligence and is quite adept at recognizing low-basis, infill projects in strong metros where the inputs to value creation are highly favorable. PointOne is a Class A organization of consummate professionals and we hope to build many more phenomenal assets with them in the future.

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LYNNWOOD, WA – Canyon Partners Real Estate and American Capital Group announce their joint venture in the development of Kinect @ Lynnwood, a 239-unit apartment project in the Seattle ;suburb of Lynnwood. Canyon invested $25.0 million of equity into this project, which is located in a qualified opportunity zone. The joint venture also simultaneously closed on a $45.5 million construction loan from U.S. Bank. Construction is slated to start in June 2020 and achieve completion in the summer of 2022.
Kinect @ Lynnwood’s location offers accessibility to major employment and activity centers, including downtown Seattle, Bellevue, Redmond and Everett. It is strategically located less than 1,000 feet from the future Lynnwood City Center light rail station, which is expected to open in 2024 as part of Sound Transit’s Lynnwood Link Extension project. Once completed, the transit system will provide residents with direct service to the University of Washington, downtown Seattle and Sea-Tac Airport. The property is also proximate to Alderwood Mall as well as several retail and grocery options. Once completed, Kinect @ Lynnwood will offer a mix of studio, one-bedroom, and two-bedroom units, with ample parking and numerous community areas with tenant amenities.
“Kinect @ Lynnwood will offer new housing supply at affordable price points to the community, which we believe is critical as downtown Seattle’s affordability challenges continue to increase,” said B.J. Kuula, Managing Partner, ACG. “We anticipate this project’s transit-oriented location will be an attractive option for renters seeking newly-built housing with convenient access to employment centers and retail options.”
The Seattle Metropolitan Area is one of the fastest growing metros in terms of population and job growth, driving strong multifamily market dynamics in nearby communities like Lynnwood.
This investment marks Canyon’s fourth joint venture equity investment into opportunity zones.
Over the last five years, Canyon has invested nearly $850 million in debt and equity in multifamily investments nationwide, supporting the financing of approximately $3 billion of project capitalization.

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