Aimco Announces Programmatic Joint Venture Agreement with Alaska Permanent Fund Corporation Targeting up to $1 Billion of Multifamily Development

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Aug 11, 2022

Apartment Investment and Management Company (“Aimco”) (NYSE: AIV) announced today that it and Alaska Permanent Fund Corporation (“APFC”) have entered into an agreement to fund up to $1 billion of future Aimco-led multifamily developments. Pursuant to the agreement, APFC will fund up to $360 million of limited partner equity into projects meeting specific criteria, including, among other items, return thresholds and minimum project size. Aimco will act as the general partner and developer, committing to at least $40 million through funding or the contribution of assets, while earning customary fees.