(NYSE: AIV) - Apartment Investment and Management Company (“Aimco”) has executed definitive agreements with AIR Communities (“AIR”) that will result in more than $100 million of realized value creation for Aimco shareholders, eliminate the $469 million obligation related to the four leased properties from AIR, and lead directly to the refinance or repayment of nearly $1 billion of debt.
Aimco Announces: The realization of $100M of value creation from the successful development of four properties leased from AIR Communities; the cancellation of the related $469M lease obligation; and the repayment of $534M debt owed to AIR.
Jun 21, 2022
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