Profile: Apartment Investment and Management Co (AIV)
21 Aug 2014
Apartment Investment and Management Company (Aimco), incorporated on January 10, 1994, is a self-administered and self-managed real estate investment trust (REIT). AIMCO Properties, L.P. (the Aimco Operating Partnership), is a partnership formed to conduct the Company's business, which 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 an ownership interests in the Aimco Operating Partnership. Aimco conducts all of its business and owns all of its assets through the Aimco Operating Partnership. Interests in the Aimco Operating Partnership, which are held by limited partners other than Aimco are referred to as OP Units. OP Units include common partnership units, high performance partnership units and partnership preferred units, which the Company refers to as common OP Units, HPUs and preferred OP Units, respectively. As of December 31, 2012 , the Company's portfolio of owned properties consisted of 265 properties with 67,977 apartment units. The Company's business is organized around two activities: Property Operations and Portfolio Management. During the year ended December 31, 2012, the Company acquired 84 properties in San Diego, 42 in Manhattan and 488 in Phoenix.
The Company's real estate portfolio consists of conventional real estate properties. As of December 31, 2012, the Company's conventional property operations consisted of market-rate apartments with rents paid by the residents and included 175 properties with 55,879 units, in which the Company held an average ownership of 97%. The Company's conventional and affordable property operations comprise the Company's reportable segments.
Portfolio management involves the ongoing allocation of investment capital. The Company's markets are coastal markets, and also include Sun Belt cities and Chicago. During 2012 , the Company sold 75 consolidated properties.
Apartment Investment and Management Co
SUITE 1100, 4582 SOUTH ULSTER ST
DENVER CO 80237