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Friday, Nov 22, 2024

Santa Clarita Apartment Sold

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.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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