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IMT Enters New Market – Austin, TX -The Addition of IMT Anderson Mill Apartments Marks the Expansion of IMT Residential into Austin, TX –

Austin, TX. – November, 2007 – IMT Residential announced the addition of IMT Anderson Mill Apartments, a 396 unit Class-A community located at 4701 Staggerbrush Road. The property is currently in the late stages of lease-up, and management anticipates reaching full capacity early the 1st quarter of 2008.

 

With established operations in both Houston and Dallas markets, the progression into Austin is a natural fit for IMT Residential. Market fundamentals such as job growth and forecasted 17% population growth over the next five years make Austin an ideal market for the continued expansion of IMT Residential operations in Texas.

 

“The Austin market is expected to see substantial employment growth in 2008 – Texas A&M Real Estate Center predicts national job growth will be only about 1 percent but that Texas’ rate probably will be double that. And Central Texas will outperform both the nation and the state with 3.5 percent job growth. We are excited to capture the additional demand for quality apartment housing that this will bring,” said Joseph Elhabr, Vice President of IMT Residential.

 

The community features a resort style pool, state of the art business center, cardio/fitness center, cyber café, and Wi-Fi access in common areas. The property also caters to pet owners, with fenced-in yards available as well as an 8,000 square foot fenced dog park. Attractive unit interiors feature the choice of three different designer finishes, black on black appliances, full size washer and dryers, diamond-polished concrete flooring in select plans, wood accent flooring in select plans, and spacious walk-in closets.

 

About IMT Residential

IMT Residential is a Sherman Oaks, California based privately held full-service operator of multi-family residential properties. The company currently manages over 16,000 residential units and 60 properties in five 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.

 

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