Aimco Closes Previously Reported Asset Sales and Announces Special Dividend

Core Points - Aimco has successfully closed the sale of its interest in two investments in Miami, Florida for a gross price of $204 million [1] - The company retired$110 million of debt with a weighted average rate of 8.6% and received net proceeds of approximately $90 million from the sale [1] - Aimco plans to return the net proceeds to shareholders, declaring a special cash dividend of$0.60 per share to be paid on January 31, 2025 [2] Company Insights - Aimco's President and CEO highlighted the sales as a significant milestone, emphasizing the value created through the redevelopment of The Hamilton and the planning of 3333 Biscayne Boulevard [3] - Aimco focuses on value-add and opportunistic investments in the U.S. multifamily sector, aiming to enhance outcomes through its human capital [4]