LOS ANGELES, CA - IMT Capital, LLC, a private real estate investment company, together with its affiliate IMT Residential, a leading nationwide apartment operator with multi-family properties that extend throughout California, Arizona, Texas, and Florida, announced plans for the construction of three new developments in the San Fernando Valley, north of Los Angeles. These plans for development come after the purchase of three prime property sites in San Fernando Valley's premier neighborhoods.
The newly planned projects, together consisting of 653 units, will be the latest additions to the growing list of multi-family residential communities in the IMT Residential portfolio, making IMT Residential one of the largest multi-family development firms in Los Angeles.
"We continue to invest in the growth of our local communities through urban renewal and a commitment to deliver a superior product," said David Tedesco, Principal of IMT Capital, LLC. "Through our numerous acquisitions and sustained development, we have become one of the largest multi-family development firms in Los Angeles and we remain focused on being the preeminent choice when it comes to apartment living."
The three new projects are slated for completion beginning in summer 2013. Each new community will be thoughtfully designed and complete with well-appointed interior features and amenities.
IMT Sherman Village, located at 12629 Riverside Drive in Valley Village, CA, will be a 264-unit community, and is scheduled to be completed in the fall of 2013. A 49-unit apartment building, located at 14925 Magnolia Blvd in Sherman Oaks, CA, is scheduled for completion by summer 2013. IMT Sherman Circle, located at 14500 Sherman Circle in Van Nuys, CA, the largest community, consisting of 340 units, is scheduled for completion by winter 2014.
IMT Capital, LLC is a private real estate investment firm based in Los Angeles, CA, with offices in San Francisco, CA and Austin, TX. The company's principals have made investments in excess of $2 billion in value since 1992. The company is a specialized manager concentrating in multi-family opportunities in major U.S. markets.
IMT Residential is a Los Angeles-based privately held full-service operator of multi-family residential communities. The company currently manages over 17,000 residential units and 70 communities in four U.S. states. Founded in 1992, IMT Residential has been recognized on the lists of Top 50 multifamily firms nationally by the National Multi-Housing Council (NMHC) and Multi-Family Executive Magazine.