California firm investing in LV

Thursday, Feb. 3, 2000 | 12:25 p.m.

Sherman Oaks, Calif.-based Investors Management Trust Real Estate Group plans to acquire an as yet undetermined number of multi-family apartment projects in Las Vegas.

The real estate investment company currently owns and operates 33 similar properties with a combined total of 8,646 apartment units in California, Texas and Arizona.

Company spokesman Michael Higby said IMT officials are currently considering "stacks of properties in Las Vegas" and expect to make their first purchase before the fall.

Higby said the company normally targets apartment properties with 100 units or more.

Concurrent to its initial Las Vegas investment, the company also plans to open a local office.

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