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 proprietà nella periferia di Boston, composto da cinque complessi residenziali (2.719 unità), per 740 milioni di dollari a Harbor Group International, con chiusure previste tra il terzo e il quarto trimestre del 2025.
Inoltre, Aimco è 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 società prevede di distribuire la maggior parte dei proventi agli azionisti.
Dopo le vendite, Aimco manterrà 18 comunità residenziali con 3.457 unità, 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 dólares. La compañía 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 dólares a Harbor Group International, con cierres previstos para el tercer y cuarto trimestre de 2025.
Además, Aimco sigue bajo contrato para vender su Brickell Assemblage en Miami por 520 millones de dólares, con el cierre programado para el cuarto trimestre de 2025. Se espera que las transacciones combinadas generen ingresos netos aproximados de 785 millones de dólares, o 5,21 dólares por acción. La compañía planea distribuir la mayor parte de los ingresos a los accionistas.
Después de las ventas, Aimco conservará 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 dólares para finales de 2026.
Apartment Investment and Management Company (NYSE:AIV)가 총 12억 6천만 달러에 달하는 두 건의 주요 부동산 매각을 발표했습니다. 회사는 보스턴 교외 지역의 5개 아파트 단지(2,719가구)로 구성된 포트폴리오를 Harbor Group International에 7억 4천만 달러에 매각하는 계약을 체결했으며, 거래 종료는 2025년 3분기에서 4분기 사이로 예상됩니다.
또한 Aimco는 마이애미의 브리켈 어셈블리지를 5억 2천만 달러에 매각하는 계약을 유지하고 있으며, 거래 종료는 2025년 4분기로 예정되어 있습니다. 이 두 거래를 통해 약 7억 8천 5백만 달러의 순수익이 발생할 것으로 예상되며, 주당 5.21달러에 해당합니다. 회사는 대부분의 수익을 주주들에게 배당할 계획입니다.
매각 후 Aimco는 주로 시카고 교외와 워싱턴 D.C. 교외에 위치한 18개의 아파트 단지, 총 3,457가구를 보유하게 되며, 2026년 말까지 연간 순영업소득(NOI) 9천만 달러를 창출할 것으로 예상됩니다.
Apartment Investment and Management Company (NYSE:AIV) a annoncé deux ventes majeures de propriétés totalisant 1,26 milliard de dollars. La société a conclu un accord pour vendre son portefeuille en banlieue de Boston composé de cinq immeubles résidentiels (2 719 unités) pour 740 millions de dollars à Harbor Group International, avec des clôtures prévues entre le troisième et le quatrième trimestre 2025.
De plus, Aimco reste sous contrat pour vendre son Brickell Assemblage à Miami pour 520 millions de dollars, avec une clôture prévue au quatrième trimestre 2025. Ces transactions combinées devraient générer un produit net d'environ 785 millions de dollars, soit 5,21 dollars par action. La société prévoit de distribuer la majeure partie des produits aux actionnaires.
Après ces ventes, Aimco conservera 18 communautés d'appartements totalisant 3 457 unités, principalement en banlieue de Chicago et Washington, D.C., qui devraient générer 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 Immobilienverkäufe mit einem Gesamtvolumen von 1,26 Milliarden US-Dollar angekündigt. Das Unternehmen hat eine Vereinbarung zum Verkauf seines Vorstadt-Portfolios in Boston mit fünf Apartmentanlagen (2.719 Einheiten) an Harbor Group International für 740 Millionen US-Dollar getroffen, wobei der Abschluss im dritten bis vierten Quartal 2025 erwartet wird.
Zusätzlich steht Aimco weiterhin unter Vertrag, um sein Brickell Assemblage in Miami für 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 Großteil der Erlöse an die Aktionäre auszuschütten.
Nach den Verkäufen wird Aimco 18 Apartmentgemeinschaften mit 3.457 Einheiten behalten, hauptsächlich in den Vororten von Chicago und Washington, D.C., die bis Ende 2026 voraussichtlich einen jährlichen 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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SOURCE Apartment Investment and Management Company (Aimco)
FAQ
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