Apartment Investment and Management Company
TypePublic company
IndustryReal estate investment trust
Founded1975 (as "The Considine Company, Inc.")
1994 (Merged with Property Asset Management & PDI, Inc.)
FounderTerry Considine
HeadquartersDenver, Colorado, U.S.
Key people
R. Dary Stone, Chairman of the Board
Wes Powell, President & CEO
Lynn Stanfield, CFO
ProductsApartments
RevenueIncrease US$190 million (2022)
Increase US$75 million (2022)
Total assetsDecrease US$2.181 billion (2022)
Total equityIncrease US$625 million (2022)
Number of employees
62 (2022)
Websiteaimco.com
Footnotes / references
[1]

Aimco or Apartment Investment and Management Company is an American publicly traded real estate investment trust. As of December 31, 2022, the company owned 26 apartment communities comprising 5,940 apartment units in the United States.[1]

History

Aimco traces its roots to The Considine Company, formed in 1975 by Terry Considine. Aimco was incorporated on January 10, 1994.[1] Aimco became a public company via an initial public offering on July 29, 1994.[2]

Major acquisitions by Aimco include Walters Management Company,[3] the J.W. English Company,[4] NHP,[5] Insignia,[6] Oxford,[7][8] and Casden.[9] In 1999, Aimco became the largest owner of apartment buildings in the U.S.[10]

In 2018, Aimco exited the affordable apartment business.[11]

In 2020, Aimco spun off its property management function and the majority of its stabilized apartment properties into a new publicly traded REIT, Apartment Income REIT Corp.[12][13]

References

  1. 1 2 3 "Apartment Investment and Management Company 2022 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ↑ "World Class Real Estate Investment Trust Company | Aimco". Aimco Creating Value. Retrieved 2023-12-14.
  3. ↑ HIRSH, LOU (April 22, 2013). "Piece of Local History Is Part of La Jolla Apartment Buy". American City Business Journals.
  4. ↑ Rutledge, Tanya (November 24, 1996). "Low-profile New York investors to build huge industrial complex". American City Business Journals.
  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. ↑ SANCHEZ, JESUS (December 5, 2000). "Aimco Agrees to Buy Casden". Los Angeles Times.
  10. ↑ "1999 Owner List". www.nmhc.org. Retrieved 2023-12-14.
  11. ↑ "Aimco Closes Sale of Asset Management Portfolio to Related Companies". www.businesswire.com. 2018-07-25. Retrieved 2023-12-14.
  12. ↑ "Aimco Completes Separation of Apartment Income REIT Corp" (Press release). Business Wire. December 15, 2020.
  13. ↑ "Inline XBRL Viewer". www.sec.gov. Retrieved 2023-12-14.
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