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

Valley Village, CA. – October 15, 2009 IMT Residential today announced the purchase of a parcel of land in the community of Valley Village, which is scheduled to be developed in to a 3-story, 96-unit apartment building.

 

The Riverside project is located in the beautiful neighborhood of Valley Village at 12000 Riverside Drive. Construction is slated to begin on April 23, 2010 with a target finishing date of February 15, 2012. The project will have a mix of spacious one and two bedroom apartments averaging 1,060 to 1,625 square feet.

 

“This is a great chance for IMT to secure its place in the housing market of Valley Village, one of the premier communities in the San Fernando Valley.” said Joseph Elhabr, Vice President of IMT Residential.

 

The community will feature designer one and two bedroom homes with side-by-side washers and dryers, fully equipped full size kitchens and a formal dining area. The complex will be fitted with a fully equipped fitness room, resort style pool and spa, recreation room, and lush landscaped courtyards.

 

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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