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LOS ANGELES — An affiliate of Pacific Urban Residential has purchased the 191-unit IMT Thousand Oaks apartments for $67 million. The community is located at 491 W. Gainsborough Road in the Los Angeles submarket of Thousand Oaks.
IMT Thousand Oaks is situated along U.S. Highway 101. Notable employers in the area include Amgen, General Dynamics Corp., Verizon, WellPoint, JD Power & Associates, Teledyne Technologies, Audi, Kythera Biopharmaceuticals and the Dole Food Co.
The community was built in 1973. Greg Harris, Kevin Green and Joseph Grabiec of Institutional Property Advisors represented the seller, IMT Capital LLC, in this transaction.