IMT Capital begins $400 million investment fund

IMT Capital, LLC, a private real estate investment and management company with a nationwide portfolio of multifamily properties, has started IMT Capital Fund III, LP, an investment fund with more than $400 million in committed equity. Investors in Fund III include a select group of university endowments, foundations, pension funds, and high net worth individuals. Fund III was formed to employ an investment strategy consistent with IMT Capital's prior funds, opportunistically invest in undervalued and underperforming multifamily assets in major U.S. markets, and deliver superior risk adjusted returns through investment discipline, value-add strategies, and in-house operational skill sets. "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," said Michael Browne, IMT Capital's co-founder and managing director. "Opportunities in each cycle may be different, but it's always our job to demand an adequate return for our risk. That's as true for our partners' money as it is for ours."