Aimco

Last updated
Apartment Investment and Management Company
Company type Public
Industry Real estate investment trust
Founded1975;49 years ago (1975) (as "The Considine Company, Inc.")
1994;30 years ago (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
RevenueDecrease2.svg US$186 million (2023)
Increase2.svg -US$166 million (2023)
Total assets Decrease2.svg US$2.089 billion (2023)
Total equity Decrease2.svg US$349 million (2023)
Number of employees
61 (2023)
Website aimco.com
Footnotes /references
[1]

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]

Contents

History

Aimco 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

YearCompanyNotesRef
1996Walters Management Company [2]
1996J.W. English Company [3]
1997Apartment portfolio of Winthrop8,175 apartments [4]
1997NHP87,659 apartments [5]
1998Apartment division of Insignia Financial Group Price was $910 million [6]
2000Oxford and affiliates36,662 apartment units [7] [8]
2002CasdenFounded by Alan Casden; owned 17,383 apartments, price was $206 million in stock and $198 million in cash [9]

Major divestitures

YearCompanyNotesRef
2018Affordable apartments businessSold to Related Companies [10]
2020Stabilized apartments Corporate spin-off of Apartment Income REIT Corp.; acquired by The Blackstone Group [11]

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References

  1. 1 2 3 "Apartment Investment and Management Company 2023 Form 10-K Annual Report". U.S. Securities and Exchange Commission. February 26, 2024.
  2. HIRSH, LOU (April 22, 2013). "Piece of Local History Is Part of La Jolla Apartment Buy". American City Business Journals .
  3. Rutledge, Tanya (November 24, 1996). "Low-profile New York investors to build huge industrial complex". American City Business Journals .
  4. "Apartment Investment Adds 8,175 Units From Winthrop" . The New York Times . Reuters. October 18, 1997.
  5. Knight, Jerry (December 10, 1997). "APARTMENT MANAGER NHP ACQUIRED BY DENVER TRUST". The Washington Post .
  6. HOLUSHA, JOHN (May 24, 1998). "Commercial Property/Insignia Financial Group; Shedding Residential to Focus on Commercial" . The New York Times .
  7. "Aimco completes purchase of Oxford" . American City Business Journals . September 20, 2000.
  8. "APARTMENT INVESTMENT AGREES TO ACQUIRE OXFORD FUND" . The New York Times . Bloomberg News. December 1, 2000.
  9. "Aimco Buys Units From Casden" . Los Angeles Times . Bloomberg News. March 12, 2002.
  10. "Aimco Closes Sale of Asset Management Portfolio to Related Companies" (Press release). Business Wire. July 25, 2018.
  11. "Aimco Completes Separation of Apartment Income REIT Corp" (Press release). Business Wire. December 15, 2020.