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Real Estate/Development

May 14, 2016

Former Summerset Apartments sold for $214M

The 752-unit complex at 11102 Caminito Alvarez was acquired by IMT Cap Iv Sorrento Valley LLC. The property has been renamed IMT Sorrento Valley.

A unit of IMT Capital LLC, a private real estate investment and management company, paid $214 million the former Summerset Apartments, located between Miramar and Mira Mesa.

The 752-unit complex at 11102 Caminito Alvarez was acquired by IMT Cap Iv Sorrento Valley LLC. The property has been renamed IMT Sorrento Valley.

It marks IMT's first acquisition in San Diego County.

Sherman Oaks-based IMT took out a $1 billion dollar loan from the Federal Home Loan Mortgage Corp...

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