IMT ACQUIRES 249 UNIT MULTI-FAMILY PROPERTY IN NORWALK, CA

LOS ANGELES, CA. December 13, 2011 – IMT Capital, LLC, a private real estate investment and management company, together with its affiliate IMT Residential, a leading nationwide apartment operator with multi-family properties that extend throughout California, Arizona, Texas, and Florida, today announced the acquisition of IMT MetroPointe.

 

IMT MetroPointe is a 249 unit multi-family property located at 11615 Firestone Blvd, Norwalk, CA 90650. This garden-style apartment community is conveniently located in the heart of Norwalk adjacent to shopping and restaurants. IMT plans to implement its professional management practice and will perform exterior and interior renovations so the property can compete more effectively in its sub-market.

 

“We are pleased to continue the expansion into Southern California with the addition of IMT MetroPointe. The Norwalk location is a new area for us, one slated to see continuous rent growth in the next few years,” said Joseph Elhabr, Vice President, IMT Residential.

 

The apartment homes at IMT MetroPointe boast spacious 1, 2, and 3 bedroom floor plans, upgraded gourmet kitchens with black appliances, 9 foot ceilings, and lofts in select units. Amenities at the property include a resort style swimming pool, indoor basketball court, fitness center, and resident community room.

 

About IMT Capital

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 multifamily opportunities in major U.S. markets. Additional information on IMT Capital can be obtained by going to www.imtCapital.com.

 

About IMT Residential

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 85 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. Additional information on IMT Residential can be obtained by going to www.imtresidential.com.

 

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