AIR Communities Helps Raise $529,000 For Military and Educational Causes in 20th Annual Golf Classic

Rhea-AI Summary

Apartment Income REIT Corp. and Apartment Investment and Management Company secure $529,000 for charity golf classic benefiting military families and college-bound students.

Positive

• The charity golf classic raised nearly $7.5 million in its 20-year history.
• 40 companies provided sponsorships for the tournament.

Negative

• None.

DENVER--(BUSINESS WIRE)-- Apartment Income REIT Corp. (NYSE: AIRC) (“AIR” or “AIR Communities”) along with Apartment Investment and Management Company (NYSE: AIV) (“Aimco”) and many longstanding business partners, secured $529,000 for beneficiaries of the AIR Gives + Aimco Cares Charity Golf Classic. The tournament, which was held August 8, 2023, at Sanctuary Golf Course in Sedalia, Colorado, has raised nearly $7.5 million in its 20-year history.

AIR Executive Vice President Emeritus Miles Cortez joins Project Sanctuary and TAPS leadership at the AIR Gives + Aimco Cares Charity Golf Classic. (Photo: Business Wire)

"Thanks to the remarkable generosity of our business partner sponsors, we are able to assist military families and college-bound students across the country,” said AIR Executive Vice President Emeritus Miles Cortez. “It’s an honor to be involved in this special event for two decades, and it speaks to AIR’s and Aimco’s continued commitment to being good corporate citizens, and to the incredible work of our nonprofit beneficiaries.”

Presented in partnership with RE/MAX International, the tournament primarily benefits four nonprofit organizations focused on military families, college scholarships for students in affordable housing, and workforce development for the prevention of homelessness:

• AIR partners with the Tragedy Assistance Program for Survivors (TAPS), a front-line resource for families grieving the loss of a loved one who served our country in the military. TAPS provides 24/7 comfort and care through a national network of peer-based emotional support, case work assistance, crisis intervention, and grief and trauma resources.
• AIR also supports Project Sanctuary, which helps military families reconnect after a soldier returns from overseas duty. Families participate in therapeutic retreats across the country and receive Project Sanctuary's assistance with housing, job placement and veterans' benefits.
• Aimco partners with Camillus House, who supplies housing to more than 1,700 people nightly through its 11 residential facilities and scattered-site apartments across Miami-Dade County. This partnership was created to support expanding workforce development initiatives and, in partnership with Aimco, the Camillus House Workforce Development Initiative was created. In addition, through the Aimco Cares program, Aimco sponsors scholarships covering employment search and training costs for individuals in the Camillus House program.
• The AIR Gives Opportunity Scholarship provides financial assistance to college-ready students living in affordable housing nationwide. The scholarship, administered in partnership with the National Leased Housing Association's Education Fund, has now helped more than 600 students pursue their dreams of a college education.

To celebrate the tournament’s 20th anniversary, AIR Communities invited residents to participate in the event through a “Golf Getaway for a Cause” prize drawing. Amit Patel, a resident at Indigo Apartments in Redwood City, CA, was the lucky winner of an all-expenses paid trip to Denver to experience the event.

“As a happy Indigo resident for the last three years, I was thrilled to be invited to AIR’s 20th annual golf classic,” said Amit. “The team provided a warm welcome, and I had a great opportunity to sit down with AIR leadership and share my experience as a resident. It means a lot to know the company cares about its residents and the greater community.”

More than 120 golfers participated in this year's tournament with 40 companies providing sponsorships. Greenberg Traurig and Melnick Real Estate Advisors were the Diamond Sponsors, contributing at least $30,000 each. DBK Construction, Institutional Property Advisors, and The Nubo Group were the Platinum Sponsors, contributing at least $20,000 each.

About AIR Communities

Apartment Income REIT Corp (NYSE: AIRC) is a publicly traded, self-administered real estate investment trust (“REIT”). AIR’s portfolio comprises 73 communities totaling 25,739 apartment homes located in 10 states and the District of Columbia. AIR offers a simple, predictable business model with focus on what we call the AIR Edge, the cumulative result of our focus on resident selection, satisfaction, and retention, as well as relentless innovation in delivering best-in-class property management. The AIR Edge is a durable operating advantage in driving organic growth, as well as making possible the opportunity for excess returns for properties new to AIR’s platform. For additional information, please visit aircommunities.com.

About Aimco

Apartment Investment and Management Company (“Aimco”) (NYSE: AIV) is a diversified real estate company primarily focused on value add and opportunistic investments, targeting the U.S. multifamily sector. Aimco’s mission is to make real estate investments where outcomes are enhanced through our human capital so that substantial value is created for investors, teammates, and the communities in which we operate. For more information, visit https://www.aimco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230920954074/en/

Stephanie Joslin

Director of Communications

Stephanie.Joslin@aircommunities.com

Source: Apartment Income REIT Corp