A 191-unit multifamily community at 491 W. Gainsborough Road in Thousand Oaks sold for $67 million.
Pacific Urban Residential bought the property from IMT Capital LLC, according to Greg Harris of Marcus & Millichap who coordinated the deal.
“The acquisition provided the buyer with the opportunity to enter a highly coveted market supported by the city’s strong submarket fundamentals, lack of new multifamily supply and high cost of ownership in meaningful scale,” Harris said in a news release.
Built in 1973, IMT Thousand Oaks features one-, two- and three-bedroom units and an onsite business center, a pet park, and a swimming pool with cabanas.
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