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IMT Announces Acquisition of Land Parcel for New Construction –Van Nuys, CA

Van Nuys, CA. – June 11, 2007 – IMT plans to construct an elegant 98 unit apartment community on newly acquired land in Van Nuys. The project will be the next step in a continued expansion of the company’s presence in Los Angeles County.

The planned construction at 6940 Sepulveda will be designed to set the standard for residential housing in Van Nuys. Construction is slated to be completed by January of 2010 with a target opening date of February 20, 2010. IMT’s newest housing community will feature spacious 2 bedroom, 2 bathroom apartments ranging in size from 1159 to 1553 square feet. IMT plans to make the new community an environmentally friendly one by installing a solar power source and Energy Star approved appliances.

“The new property at 6940 Sepulveda will be developed with consideration of both the needs of the residents and the impact on the environment. Hopefully this new project will set the standard for housing construction in Los Angeles County being both environmentally aware and visually appealing. ” said Joseph Elhabr, Vice President of IMT Residential.

Each of the 98 expansive 2 bedroom, 2 bathroom floor plans will be designed to provide both style and comfort. Features will includes in-home side by side washers & dryers, fully equipped kitchens with granite countertops, gorgeous custom flooring, crown molding, designer lighting, walk-in closets, generously sized bathrooms and a wealth of distinctive finishes. A state-of-the-art fitness center, fully equipped business center, resident lounge, playground and a large central courtyard adorned with lush landscaping complete the prestigious environment

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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