IMT Sells Granada Hills Complex for Nearly $20 Million

Apartment developer and operator IMT Residential in Sherman Oaks has sold its 52-unit apartment complex in Granada Hills for about $19.5 million, according to Marcus & Millichap Inc. in Calabasas. A New York investor purchased the complex at 11541 Blucher Ave. under a limited liability entity named Kirkstead, said Jeff Louks, executive managing director of investments for Marcus & Millichap, who negotiated the sale on behalf of IMT with Glen Scher and Brett Sanson. Marcus & Millichap broker Catherine O’Brien represented the investor. The IMT Granada Pointe Townhomes sits on nearly 2.3 acres and was built in 2010. The two-bedroom unit complex includes a clubhouse, fitness center, grill, laundry facilities and a pool.