IMT Valencia, a 208-unit apartment complex in Santa Clarita, has sold for an undisclosed price.
The property has 19 buildings with 212,905 net rentable square feet on 12.7 acres of land. It is located at 28100 Smyth Drive.
Institutional Property Advisors, a division of Calabasas brokerage Marcus & Millichap Inc., handled the sale. IPA’s Greg Harris, Kevin Green and Joseph Grabiec represented the seller, IMT Capital LLC. The buyer was an unnamed institutional investor.
“The new owner is in an excellent position to capitalize on the property’s status as one of the premier luxury rental housing options in a submarket that boasts strong population growth, low vacancy, low unemployment, and strong projected income growth,” Green said in a statement.
The apartments feature one-, two- and three-bedroom floor plans with a private balcony or patio.