SHERMAN OAKS, CA-IMT Capital LLC announced plans to build three multifamily complexes in the San Fernando Valley area of Los Angeles. According to the locally based developer and apartment owner, the new projects, together with IMT’s existing holdings in the city, make IMT one of the largest multifamily developers in the city.

The San Fernando Valley, an area of 1.5 million people that comprises the northern part of the city of Los Angeles, has been a major focus for the company, according to CEO David Tedesco.

“We have our roots here, and our corporate office is here,” he says of the Valley.  “We’ve been developing in the Valley for a number of years. We believe in it.”

The Valley also contains some of the larger land parcels that are the company’s preferred development sites, as well as the busy, high-visibility streets that IMT also likes, according to Tedesco. “We like streets with lots of drive-by traffic,” he says.

The three new projects are slated for completion beginning in summer 2013. The 264-unit IMT Sherman Village, in Valley Village, CA is scheduled for completion in the fall of 2013. A 49-unit apartment building in Sherman Oaks, CA, reaches completion in summer 2013, while the 340-unit IMT Sherman Circle in Van Nuys, CA is expected in winter 2014. The San Fernando Valley, an area of 1.5 million people that comprises the northern part of the city of Los Angeles, has been a major focus for the company, according to Tedesco.

IMT Residential is a Los Angeles-based privately held operator of multi-family residential communities. The company currently manages more than 17,000 residential units and 70 communities in Arizona, California, Florida and Texas.