Aimco Enters Agreement to Sell Suburban Boston Apartment Portfolio for $740 Million, Remains Under Contract to Sell Brickell Assemblage in Miami for $520 Million
Apartment Investment and Management Company (NYSE:AIV) has announced two major property sales totaling $1.26 billion. The company has entered into an agreement to sell its suburban Boston portfolio of five apartment properties (2,719 units) for $740 million to Harbor Group International, with closings expected in Q3-Q4 2025.
Additionally, Aimco remains under contract to sell its Brickell Assemblage in Miami for $520 million, with closing scheduled for Q4 2025. The combined transactions are expected to generate net proceeds of approximately $785 million, or $5.21 per share. The company plans to distribute the majority of proceeds to shareholders.
Post-sales, Aimco will retain 18 apartment communities with 3,457 units, primarily in suburban Chicago and Washington, D.C., expected to generate $90 million in annual NOI by year-end 2026.
Apartment Investment and Management Company (NYSE:AIV) ha annunciato due importanti vendite immobiliari per un totale di 1,26 miliardi di dollari. L'azienda ha stipulato un accordo per la vendita del suo portafoglio di propriet脿 nella periferia di Boston, composto da cinque complessi residenziali (2.719 unit脿), per 740 milioni di dollari a Harbor Group International, con chiusure previste tra il terzo e il quarto trimestre del 2025.
Inoltre, Aimco 猫 ancora sotto contratto per vendere il suo Brickell Assemblage a Miami per 520 milioni di dollari, con la chiusura prevista nel quarto trimestre del 2025. Le operazioni combinate dovrebbero generare proventi netti di circa 785 milioni di dollari, ovvero 5,21 dollari per azione. La societ脿 prevede di distribuire la maggior parte dei proventi agli azionisti.
Dopo le vendite, Aimco manterr脿 18 comunit脿 residenziali con 3.457 unit脿, principalmente nella periferia di Chicago e Washington, D.C., che si prevede genereranno un reddito operativo netto (NOI) annuo di 90 milioni di dollari entro la fine del 2026.
Apartment Investment and Management Company (NYSE:AIV) ha anunciado dos importantes ventas de propiedades por un total de 1.260 millones de d贸lares. La compa帽铆a ha llegado a un acuerdo para vender su portafolio en los suburbios de Boston, que incluye cinco propiedades residenciales (2.719 unidades), por 740 millones de d贸lares a Harbor Group International, con cierres previstos para el tercer y cuarto trimestre de 2025.
Adem谩s, Aimco sigue bajo contrato para vender su Brickell Assemblage en Miami por 520 millones de d贸lares, con el cierre programado para el cuarto trimestre de 2025. Se espera que las transacciones combinadas generen ingresos netos aproximados de 785 millones de d贸lares, o 5,21 d贸lares por acci贸n. La compa帽铆a planea distribuir la mayor parte de los ingresos a los accionistas.
Despu茅s de las ventas, Aimco conservar谩 18 comunidades de apartamentos con 3.457 unidades, principalmente en los suburbios de Chicago y Washington, D.C., que se espera generen un ingreso operativo neto (NOI) anual de 90 millones de d贸lares para finales de 2026.
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Apartment Investment and Management Company (NYSE:AIV) a annonc茅 deux ventes majeures de propri茅t茅s totalisant 1,26 milliard de dollars. La soci茅t茅 a conclu un accord pour vendre son portefeuille en banlieue de Boston compos茅 de cinq immeubles r茅sidentiels (2 719 unit茅s) pour 740 millions de dollars 脿 Harbor Group International, avec des cl么tures pr茅vues entre le troisi猫me et le quatri猫me trimestre 2025.
De plus, Aimco reste sous contrat pour vendre son Brickell Assemblage 脿 Miami pour 520 millions de dollars, avec une cl么ture pr茅vue au quatri猫me trimestre 2025. Ces transactions combin茅es devraient g茅n茅rer un produit net d'environ 785 millions de dollars, soit 5,21 dollars par action. La soci茅t茅 pr茅voit de distribuer la majeure partie des produits aux actionnaires.
Apr猫s ces ventes, Aimco conservera 18 communaut茅s d'appartements totalisant 3 457 unit茅s, principalement en banlieue de Chicago et Washington, D.C., qui devraient g茅n茅rer un revenu net d'exploitation (NOI) annuel de 90 millions de dollars d'ici la fin 2026.
Apartment Investment and Management Company (NYSE:AIV) hat zwei bedeutende Immobilienverk盲ufe mit einem Gesamtvolumen von 1,26 Milliarden US-Dollar angek眉ndigt. Das Unternehmen hat eine Vereinbarung zum Verkauf seines Vorstadt-Portfolios in Boston mit f眉nf Apartmentanlagen (2.719 Einheiten) an Harbor Group International 蹿眉谤 740 Millionen US-Dollar getroffen, wobei der Abschluss im dritten bis vierten Quartal 2025 erwartet wird.
Zus盲tzlich steht Aimco weiterhin unter Vertrag, um sein Brickell Assemblage in Miami 蹿眉谤 520 Millionen US-Dollar zu verkaufen, mit einem geplanten Abschluss im vierten Quartal 2025. Die kombinierten Transaktionen sollen einen Nettogewinn von etwa 785 Millionen US-Dollar oder 5,21 US-Dollar pro Aktie generieren. Das Unternehmen plant, den Gro脽teil der Erl枚se an die Aktion盲re auszusch眉tten.
Nach den Verk盲ufen wird Aimco 18 Apartmentgemeinschaften mit 3.457 Einheiten behalten, haupts盲chlich in den Vororten von Chicago und Washington, D.C., die bis Ende 2026 voraussichtlich einen j盲hrlichen Netto-Betriebsertrag (NOI) von 90 Millionen US-Dollar erzielen werden.
- None.
- Significant reduction in portfolio size from sale of 2,719 units in Boston
- Retained portfolio will be more geographically concentrated in just two markets
Insights
Aimco's $1.26B asset sales of Boston and Miami properties will substantially reshape portfolio and return significant capital to shareholders.
Aimco's agreement to sell its suburban Boston portfolio for
These transactions will fundamentally transform Aimco's portfolio quality and focus. The company is strategically divesting older, lower-rent properties while retaining assets commanding
Beyond its existing assets, Aimco maintains growth potential through its development pipeline, including a Miami waterfront tower under construction and a controlled pipeline with potential for over 3,700 new units. Notably, management has explicitly stated they're exploring further strategic transactions, including additional asset sales or even a potential sale or merger of the entire company, suggesting this portfolio restructuring may be part of a broader value-unlocking strategy rather than an endpoint.
Aimco President and CEO Wes Powell commented: "The agreement to sell our suburban
In addition, Aimco remains under contract to sell its Brickell Assemblage, which includes The Yacht Club Apartments and the adjacent 1001 Brickell Bay Drive office building located in
Gross proceeds from the
Aimco's remaining portfolio will include 18 apartment communities, containing 3,457 units, with concentrations in suburban
In addition, Aimco's active development business includes a waterfront residential tower in
Following the closings of the Brickell and
Finally, with the support of Morgan Stanley & Co. LLC serving as the Company's financial advisor, Aimco remains focused on further maximizing and unlocking shareholder value through additional strategic transactions, which may include the sale of additional components of the portfolio, individual asset sales, or a sale or merger of the Company as a whole.
There can be no assurance that the continued efforts will result in any transaction or transactions or other strategic changes or outcomes, and the timing or outcome of any such event is similarly uncertain. Aimco does not intend to disclose or comment on developments related to the foregoing unless or until it determines that further disclosure is appropriate or required.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations. Words such as "anticipate(s)," "expect(s)," "intend(s)," "plan(s)," "believe(s)," "may," "will," "would," "could," "should," "seek(s)," "forecast(s)," and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements, including those regarding the timing of asset sales and the timing and amount of capital expected to be returned to stockholders, are not guarantees of future performance, condition or results, and involve a number of known and unknown risks, uncertainties, and assumptions that may affect actual results or outcomes, including changes in market conditions, fluctuations in our stock price, our financial performance, regulatory changes, and general economic conditions. Readers should carefully review Aimco's financial statements and the notes thereto, as well as the section entitled "Risk Factors" in Item 1A of Aimco's Annual Report on Form 10-K for the year ended December 31, 2024, as these filings identify and address important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. These forward-looking statements reflect management's judgment as of this date, and Aimco assumes no (and disclaims any) obligation to revise or update them to reflect future events or circumstances.
About Aimco
Aimco is a diversified real estate company primarily focused on value add and opportunistic investments, targeting the
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FAQ
What is the total value of Aimco's (NYSE:AIV) Boston and Brickell property sales in 2025?
How much will Aimco shareholders receive from the Boston and Brickell sales?
What will remain in Aimco's portfolio after the Boston and Brickell sales?
When are the Aimco property sales expected to close?
What is the average rent difference between Aimco's retained portfolio and the Boston properties being sold?
