CIM Group Sells 201-Unit Arioso Apartment Community in Cupertino, California

10/22/2024

CUPERTINO, Calif. - October 22, 2024 - CIM Group announced today the sale of Arioso, a well-located, 201-unit apartment community in the Silicon Valley community of Cupertino, California.

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Arioso offers one- and two-bedroom configurations set in eight, three-story buildings spread across the property and provides 382 parking spaces. The community offers a comfortable environment with large landscaped courtyards, a swimming pool and pool deck that features comfortable seating and cabanas, fire pit and grilling station. Residents also have access to a community club house, business center, basketball court, and fitness center.

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CIM Group invested in an extensive program of interior and exterior upgrades at Arioso which was built in 1998. Among the completed apartment improvements are the installation of quartz countertops, stainless steel appliances, vinyl plank flooring and the addition of full-size washers and dryers. The gym and club house have been fully renovated while the exterior work included refreshing the landscaping and outdoor gathering spots including the pool and deck.

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Located at 19608 Pruneridge Ave., Arioso is within 15 minutes of some of the area's most prominent companies including Google, Amazon, Microsoft and Intuit and a five-minute walk to the Apple campus.

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For 30 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.

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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.