Aimco is a diversified real estate company primarily focused on value add, opportunistic, and alternative investments, targeting the U.S. multifamily sector. . Our investment platform is managed by experienced real estate professionals based in four regions of the United States: West Coast, Central and Mountain West, Mid-Atlantic and Northeast, and Southeast. At Aimco, we promise to treat your data with respect and will not share your information with any third party. As previously announced, a $150 million loan secured by our leasehold interest in the North Tower at Flamingo Point. Aimco acquired, for $19 million, property adjacent to its Hamilton on the Bay asset located in Miami, Florida, providing additional development opportunity. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Casa del Hermosa, San Diego, CA In the second quarter, Aimco closed two construction loans. Royal Crest Estates, Marlborough, MA Aimco is a diversified real estate company primarily focused on value add, opportunistic, and alternative investments, targeting the U.S. multifamily sector. 2200 Grace, Lombard, IL Subsequent to quarter end, Aimco entered into a joint venture with Kushner Companies to purchase three undeveloped land parcels located in downtown Fort Lauderdale, Florida. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. This document contains forward-looking statements within the meaning of the federal securities laws. The costs are high, the risks are huge, and the so-called passive income is uncertain. "logo": "https://www.aimco.com/wp-content/uploads/2021/10/logo-white.png.webp", In the third quarter, Aimco had eight active development and redevelopment projects located in five different markets across the United States. Words such as anticipate(s), expect(s), intend(s), plan(s), believe(s), may, will, would, could, should, seek(s) and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. Yahoo . Value Add, Opportunistic & Alternative Investments: Aimco generally seeks development and redevelopment opportunities where barriers to entry are high, target customers can be clearly defined, and where Aimco has a comparative advantage over others in the market. Aimcos net leverage as of June 30, 2021 was as follows: Total non-recourse construction loan debt. In the second quarter, Aimco closed two construction loans with commitments of $251 million and currently has access to $445 million of cash and capacity on its revolving credit facility.. 303-793-4661 Subsequent to quarter end, in July, Aimco closed a $13 million supplemental, non-recourse property loan on a stabilized operating property. Aimco seeks returns on invested equity commensurate with the specific characteristics, risk profile and financing of each individual investment. At Prism, located in Cambridge, Massachusetts, all apartment homes had been delivered and construction was complete as of 1Q 2021. Aimcos current investments include a mezzanine loan with an option to participate in future development and two passive equity investments. For more information about Aimco, please visit our website www.aimco.com. *Excluded from the table above is one, 40-unit apartment community that Aimcos ownership includes a partnership share. The initial term of the loan is three years with two one-year extension options at an interest rate floating at One Month LIBOR plus 360 basis points. Subsequent to quarter end Aimco acquired an additional two properties for $7 million. In the third quarter, Aimco funded a capital call of $12.1 million associated with the previously announced $50 million total passive equity commitment to the life sciences developer, IQHQ, bringing our total investment to $24.6 million. Generally, Aimco seeks Development and Redevelopment opportunities in locations where barriers to entry are high, target customers can be clearly defined and where Aimco has a comparative advantage over others in the market. During the second quarter Aimco acquired six properties adjacent to its Hamilton on the Bay apartment community in Miamis Edgewater neighborhood, for $12 million. Strong demand for Aimcos Development and Redevelopment projects resulted in the execution of approximately 150 net new leases during the period, at rental rates ahead of target, and contributed $3.2 million in revenue during the period, up nearly 30% from the second quarter. All News; Aimcos mission is to make real estate investments where outcomes are enhanced through its human capital so that substantial value is created for investors, teammates, and the communities in which we operate. Aimco closed $251 million of construction financing and ended the second quarter with $445 million of liquidity, including cash and capacity on its revolving credit facility. Aimco
This document contains forward-looking statements within the meaning of the federal securities laws. [2] Unrealized gains (losses) on interest rate options are primarily the quarterly market-to-market adjustment required to mark to fair value Aimcos interest rate options. Aimcos common stock continues to trade on the NYSE under the symbol AIV.. Aimco has a national presence with corporate headquarters in Denver, Colorado, and Bethesda, Maryland. Aimco plans to hold the Eldridge Townhomes within its portfolio of stabilized operating properties. Reg. limitedpartners@aimco.com. Core Plus opportunities offer the opportunity for incremental capital investment while maintaining stabilized cash flow to accelerate income growth and improve asset values. Development and Redevelopment projects currently in lease-up are tracking ahead of plan, especially in South Florida where demand for luxury apartment homes continues to far outpace expectations. . The Company's earnings release will be available in the Investor Relations section of its website at investors.aimco.com. 2023 Aimco Property & Investments. In addition, Aimco controls property with the potential for an additional nine million square feet of development over time. Aimco Chief Executive Officer and Director Wes Powell comments: I would like to thank all those whose contributions made the separation possible, our shareholders whose insight was invaluable and our teammates and partners who worked countless hours to bring our plans to fruition. Als u niet wilt dat wij en onze partners cookies en persoonsgegevens voor deze aanvullende doeleinden gebruiken, klik dan op 'Alles weigeren'. The full text of this Earnings Release and the Supplemental Information referenced in this release are available on Aimcos website at investors.aimco.com. Aimco is a Real Estate Investment Trust focused on property development, redevelopment, and various other value-creating investment strategies, targeting the U.S. multifamily market. Aimco is traded on the New York Stock Exchange as AIV. The total contract price for the land is $49 million ($25 million at Aimcos 51% share) and entitlements are in place for the development of approximately three million square feet of multifamily homes and commercial space. The land purchase is expected to close in January 2022. Site Navigation. The land purchase is expected to close in January 2022. The following table summarizes the allocation: Aimcos tax return for the year ended December 31, 2022, has not yet been filed; therefore, the income tax character shown above has been calculated using the best available information as of the date of this release. These filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. In addition, Aimco has the opportunity to add to its investment pipeline based on strategic relationships and through sourcing by regional investment teams. In the second quarter, Aimco had eight active development and redevelopment projects located in five different markets across the United States. Lees ons privacybeleid en cookiebeleid voor meer informatie over hoe we je persoonlijke gegevens gebruiken. [2] See Glossary and Reconciliations of Non-GAAP Financial and Operating Measures for a reconciliation of this measure. The floating interest rate has a 3.85% floor. Apartment Investment and Management Company ("Aimco") (NYSE: AIV) announced today the federal income
limitedpartners@aimco.com. Aimco also owns one commercial office building that is part of an assemblage with an adjacent apartment building. This percentage of your total distribution is being reported to you as a supplemental disclosure pursuant to Treas.
These prove attractive when warranted by risk adjusted returns, when Aimco has special knowledge or expertise relevant to the particular investment or when the opportunity exists for positive asymmetric outcomes through strategic partnerships or otherwise. Wij, Yahoo, maken deel uit van de Yahoo-merkenfamilie. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. In total this land assemblage allows for, as-of-right, the construction of more than 700K square feet. 1.1061-6(c). Citigroup Global Markets Inc. is serving as lead financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor. Readers should also carefully review the Risk Factors section of Aimco OPs registration statement relating to the Separation. The full text of this Earnings Release and the Supplemental Information referenced in this release are available on Aimcos website atinvestors.aimco.com. Additionally, Aimco rate-locked a $40 million non-recourse property loan. Aimco is traded on the New York Stock Exchange as AIV. Hyde Park Tower, Chicago, IL DENVER -- (BUSINESS WIRE)-- Apartment Investment and Management Company ("Aimco") (NYSE: AIV) today filed with the United States Securities and Exchange Commission ("SEC") its 2020 Annual Report. Evanston Place, Evanston, IL [2] Unrealized gains (losses) on interest rate options are primarily the quarterly market-to-market adjustment required to mark to fair value Aimcos interest rate options.
Aimco is traded on the New York Stock Exchange as AIV. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Current Investments: Aimcos current portfolio includes 28 apartment communities located in ten major US markets and with average rents in line with local market averages (generally defined as B class). Aimco - Resources - Aimco | Overview Results within our stabilized operating portfolio are accelerating, our active development projects are on track to create significant value for shareholders, and our pipeline is steadily expanding having recently secured new investment opportunities with the potential for approximately four million square feet of new development in high-growth markets.
The scope of Aimcos investment will completely renew the waterfront high-rise which benefits from spacious apartment homes (averaging 1,411 sf) and an abundance of outdoor and amenity space that was previously underutilized. Aimco is a Real Estate Investment Trust focused on property development, redevelopment, and various other value-creating investment strategies, targeting the U.S. multifamily market. Aimco plans to reinvest earnings to facilitate growth and, therefore, does not presently intend to pay a regular cash dividend. View source version onbusinesswire.com:https://www.businesswire.com/news/home/20211109006572/en/, Matt Foster, Director, Capital Markets and Investor RelationsInvestor Relations 303-793-4661,[emailprotected], Source: Apartment Investment and Management Company. 1001 Brickell Bay Drive, a waterfront office building in Miami, Florida, is owned as part of a larger assemblage containing substantial excess development rights. The terms of these loans are 10 years at a 3.1% weighted average interest rate. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. I am energized by the exciting opportunities that lie ahead for Aimco and wish my friends at AIR continued success.. Download item year list 2023 2022. Robin Drive Land) in Corte Madera, California. investor@aimco.com, Internet Explorer presents a security risk.