SHERMAN OAKS, CA-Real estate investment and management company IMT Capital LLC has launched IMT Capital Fund III LP with $400 million in committed equity. Investments came from university endowments, foundations, pension funds and high net-worth individuals

The fund will target value-add and underperforming multifamily properties in major US markets, estimating a similar strong risk return to the company's previous funds. "Opportunities in each cycle may be different, but it's always our job to demand an adequate return for our risk,” says Michael H. Browne, IMT Capital co-founder and managing director. “That's as true for our partners' money as it is for ours."

The company notes that its in-house operational skill sets and investment discipline have helped them generate attractive risk returns in the past. This is the company's third fund. Its Fund II closed in September 2011 with $350 million in committed equity. For Fund II assets, the company planned to place 70% loan-to-value debt at acquisition, and targeted A and B class assets.

"We are fortunate that the exceptional performance of our first fund, combined with the opportunities uncovered in our second, has put us in a position to continue our partnership with the best investors in the country," Browne says.

Regent Properties also recently closed a multifamily fund with $60 million in commitments, GlobeSt.com reported. Unlike IMT Capital, this fund targets undervalued, non-core assets.

GlobeSt.com will update this story as more information becomes available.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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