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IMT Announces Addition of Land Parcel for New Construction to California Portfolio – Encino, CA

Encino, CA. – July 9, 2007 – IMT Residential today announced the purchase of a land parcel in Encino, CA. This marks the first land purchase for ground-up construction for IMT in 2007.

 

A 120 unit high-density building is proposed for the space. Construction is slated to begin in November of 2007 with a target opening date of July 1, 2010. The anticipated community will be located within blocks of famed Ventura Boulevard close to exceptional shopping, fine and casual dining, entertainment, major employers, and easy access to the 101 Freeway.

 

“This project will be our first in the Encino submarket. This is one of the most desirable areas of the San Fernando Valley and we are pleased to contribute such a beautiful addition to the community,” said Joseph Elhabr, Vice President of IMT Residential.

 

Each of the expansive 1, 2 and 3 bedroom floor plans will be custom designed to provide both style and comfort and will include washers & dryers, fully equipped kitchens with granite countertops & custom maple cabinetry, wood-inspired flooring, individual security systems, and many more distinctive designer touches throughout every room. A high-tech fitness center, heated pool & spa with furnished deck area and built-in barbeques will 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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