Profile: Apartment Investment and Management Co (AIV)
27 Feb 2015
Apartment Investment and Management Company (Aimco), incorporated on January 10, 1994, is a self-administered and self-managed real estate investment trust (REIT). The Company has two segments: conventional real estate operations and affordable real estate operations. The Company, through wholly-owned subsidiaries, is the general and special limited partner of AIMCO Properties, L.P. (the Aimco Operating Partnership - AOP). As of September 30, 2014, the Company owned a 95.0% ownership interest in the common partnership units of AOP.
AOP is focused on the ownership, management and redevelopment of apartment communities located in the United States. Aimco, through its wholly owned subsidiaries, AIMCO-GP, Inc. and AIMCO-LP Trust, owns a majority of the ownership interests in AOP. Aimco conducts all of its business and owns all of its assets through AOP. The Company's business is focused on two activities: Property Operations and Portfolio Management. Its property operations consist primarily of diversified portfolio of market-rate apartment communities, which are referred to as conventional apartment communities. Portfolio management involves the ongoing allocation of investment capital to meet geographic and product type goals.
Conventional Real Estate Operations
Under Conventional Real Estate Operations segment, Aimco consists of apartment communities that are classified as conventional same store, conventional redevelopment and other conventional apartment communities. Conventional Same Store apartment communities are those the Company manages and have reached and maintained a stabilized occupancy (greater than 90%) during the current year-to-date and prior year-to-date periods, and that are not expected to be sold within 12 months. At September 30, 2014, the Company’s conventional real estate operations consisted of market-rate apartment communities with rents paid by the residents and included 143 apartment communities with 43,306 apartment homes.
Affordable Real Estate Operations
Under Affordable Real Estate Operations segment, the Company consists of apartment communities that are classified as Affordable Same Store or Other Affordable. Affordable Same Store apartment communities are subjected to tax credit agreements, and have reached and maintained a stabilized occupancy (greater than 90%) during the current year and prior year-to-date periods. As of September 30, 2014, Aimco’s affordable real estate operations consisted of 61 apartment communities with 9,142 apartment homes, with rents that are generally paid, in whole or part, by a government agency.
Apartment Investment and Management Co
SUITE 1100, 4582 SOUTH ULSTER ST
DENVER CO 80237