Apartment Investment and Management Company, commonly referred to as Aimco, is an American publicly traded real estate investment trust. As of December 31, 2023, the company owned 26 apartment communities comprising 5,940 apartment units in the United States.[1]
 | |
| Company type | Public |
|---|---|
| |
| Industry | Real estate investment trust |
| Founded | 1975 (as "The Considine Company, Inc.") 1994 (Merged with Property Asset Management & PDI, Inc.) |
| Founder | Terry Considine |
| Headquarters | Denver, Colorado, U.S. |
Key people | R. Dary Stone (Chairman) Wes Powell (president & CEO) Lynn Stanfield (CFO) |
| Products | Apartments |
| Revenue |  US$186 million (2023) |
 -US$166 million (2023) | |
| Total assets | US$2.089 billion (2023) |
| Total equity | US$349 million (2023) |
Number of employees | 61 (2023) |
| Website | aimco |
| Footnotes / references [1] | |
History
editAimco traces its roots to The Considine Company, formed in 1975 by Terry Considine. Aimco was incorporated on January 10, 1994 and became a public company via an initial public offering on July 29, 1994.[1]
Major acquisitions
edit| Year | Company | Notes | Ref |
|---|---|---|---|
| 1996 | Walters Management Company | [2] | |
| 1996 | J.W. English Company | [3] | |
| 1997 | Apartment portfolio of Winthrop | 8,175 apartments | [4] |
| 1997 | NHP | 87,659 apartments | [5] |
| 1998 | Apartment division of Insignia Financial Group | Price was $910 million | [6] |
| 2000 | Oxford and affiliates | 36,662 apartment units | [7][8] |
| 2002 | Casden | Founded by Alan Casden; owned 17,383 apartments, price was $206 million in stock and $198 million in cash | [9] |
Major divestitures
edit| Year | Company | Notes | Ref |
|---|---|---|---|
| 2018 | Affordable apartments business | Sold to Related Companies | [10] |
| 2020 | Stabilized apartments | Corporate spin-off of Apartment Income REIT Corp.; acquired by The Blackstone Group | [11] |
References
edit- ^ a b c "Apartment Investment and Management Company 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 26, 2024.
- ^ HIRSH, LOU (April 22, 2013). "Piece of Local History Is Part of La Jolla Apartment Buy". American City Business Journals.
- ^ Rutledge, Tanya (November 24, 1996). "Low-profile New York investors to build huge industrial complex". American City Business Journals.
- ^ "Apartment Investment Adds 8,175 Units From Winthrop". The New York Times. Reuters. October 18, 1997.
- ^ Knight, Jerry (December 10, 1997). "APARTMENT MANAGER NHP ACQUIRED BY DENVER TRUST". The Washington Post.
- ^ HOLUSHA, JOHN (May 24, 1998). "Commercial Property/Insignia Financial Group; Shedding Residential to Focus on Commercial". The New York Times.
- ^ "Aimco completes purchase of Oxford". American City Business Journals. September 20, 2000.
- ^ "APARTMENT INVESTMENT AGREES TO ACQUIRE OXFORD FUND". The New York Times. Bloomberg News. December 1, 2000.
- ^ "Aimco Buys Units From Casden". Los Angeles Times. Bloomberg News. March 12, 2002.
- ^ "Aimco Closes Sale of Asset Management Portfolio to Related Companies" (Press release). Business Wire. July 25, 2018.
- ^ "Aimco Completes Separation of Apartment Income REIT Corp" (Press release). Business Wire. December 15, 2020.
External links
edit
Wikimedia Commons has media related to Aimco.
- Official website
- Business data for Aimco:
