The Real Deal Los Angeles

IMT Capital closes $630M fund

Firm based in Sherman Oaks will invest in multifamily properties

March 07, 2016 01:00PM
By Hannah Miet

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Michael H. Browne IMT Capital

Michael H. Browne of IMT Capital

IMT Capital, a Sherman Oaks-based private real estate investment company with a national portfolio of multifamily properties, has closed IMT Capital Fund IV, an investment fund with $630 million in committed equity.

Fund IV will invest in multifamily assets located in major U.S. markets. A representative of IMT declined to comment on how much of the fund will be dedicated to investment in Los Angeles, except to say there was no specific geographic requirement.

Investors in Fund IV include university endowments, foundations, pension funds, and high net worth individuals.

IMT’s past acquisitions in Los Angeles County include the purchase of Sunkist’s former 8.3-acre campus at 14130 Riverside Drive in Sherman Oaks for about $36 million in February 2013. IMT has proposed a 298-unit multifamily building on the site slated to begin construction in April 2017, according to CoStar Group.  

IMT also owns a handful of multifamily properties in Sherman Oaks, as well as Granada Hills and Westlake Village, acquired through its previous funds.

“We look at change in the markets as our friend,” Michael H. Browne, IMT Capital’s co-founder and managing director, said in a statement. “All cycles are a little different, and all have something to offer our disciplined investment approach.”