Aimco Closes on Partial Sale of Parkmerced Mezzanine Loan and Announces Amended Agreement for Sale of Remaining Investment
Pursuant to the terms of the amended agreement, the purchaser will have the option to acquire the remaining
So long as the purchaser’s option remains unexercised, Aimco will receive a first priority return from any payments made to service or pay down the mezzanine loan equal to
Separately, Aimco monetized its associated interest rate swaption for
In total, Aimco has monetized
“This partial sale and amended agreement represent significant progress towards Aimco’s goals to reduce exposure to west coast markets and passive investments. I am thankful to the Aimco team for their work and creativity in the face of challenging market conditions,” commented Wes Powell, Aimco Chief Executive Officer.
About Aimco
Aimco is a diversified real estate company primarily focused on value add, opportunistic, and alternative investments, targeting the
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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, 2022, and subsequent Quarterly Reports on Form 10-Q and other documents Aimco files from time to time with the SEC. 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.
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Matt Foster, Sr. Director, Capital Markets and Investor Relations
Investor Relations 303-793-4661, investor@aimco.com
Source: Apartment Investment and Management Company