IMT's $350 million private equity fund enables it to take advantage of today's troubled credit markets by paying all cash and closing quickly, which gave the Sherman Oaks based investor an advantage over its competition, Zander says.Zander, who was the listing agent for the property, generated offers from private companies and numerous regional and national operators. The 37-year-old property at 603 Hampshire Rd. is "the best of its class in the highly desirable Ventura County submarket," Zander says.

Townhomes of Westlake Village, situated on 13.7 acres just south of the 101 Freeway, features one-, two- and three-bedroom units measuring from 730 sf to 1,756 sf. Fifty of the units are townhome style, and most had been renovated by the long-term owner with upgrades including in-unit washer/dryers, corian countertops and new cabinetry. Common area amenities include tennis courts, three pools, fitness center, clubhouse, volleyball court and more. The in-place rents range from $1,235 to $2,210 per unit.

According to Cory Thabit, managing director of IMT Capital, the property represents an opportunity for IMT to execute a value-add strategy through physical renovation and more professional management. He says that the property gives IMT the foothold it has long desired in the Ventura County submarket.