Aimco

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Apartment Investment and Management Company
Public company
Traded as
IndustryReal estate investment trust
Founded1975 (as "The Considine Company, Inc.")
1994 (Merged with Property Asset Management & PDI, Inc.)
FounderTerry Considine
HeadquartersDenver, Colorado
Key people
Terry Considine, Chairman & CEO
ProductsApartments
RevenueDecrease $0.972 billion (2018)
Increase $0.666 billion (2018)
Total assetsIncrease $6.190 billion (2018)
Total equityDecrease $1.763 billion (2018)
Number of employees
1,050 (2018)
Websiteaimco.com
Footnotes / references
[1]

Aimco or Apartment Investment and Management Company is a publicly traded real estate investment trust. As of December 31, 2018, the company owned 134 apartment communities comprising 36,549 apartment units primarily in Atlanta, the San Francisco Bay Area, Boston, Chicago, Denver, the Washington metropolitan area, Los Angeles, Miami, New York City, Philadelphia, San Diego, and Seattle.[1]

History[edit]

Aimco traces its roots to The Considine Company, formed in 1975 by Terry Considine.

Aimco was incorporated on January 10, 1994.[1]

On July 29, 1994, the company became a public company via an initial public offering.[2]

In 1994, Aimco acquired Homecorp, a management company with 5,300 units based in Montgomery, Alabama.[3]

In 1996, Aimco acquired Walters Management Company[4] and the J.W. English Company.[5]

Aimco also acquired a portion of the general partnership of Balcor Asset Management resulting in the addition of 67 properties in 3 states.

In 1997, Aimco acquired National Housing Partnership Incorporated, which owned 87,659 apartments.[6][7][8]

In October 1997, Aimco acquired 8,175 apartment units from Winthrop.[9]

In 1998, Aimco acquired Insignia Financial Group in a $910 million transaction.[10][11]

In 2000, the company acquired Oxford Realty Financial Group, which owned interests in 36,662 apartment units, for $314 million.[12] Also in 2000, the company acquired the Oxford Tax-Exempt Fund for $206 million.[13]

In 2002, Aimco acquired Casden Properties, founded by Alan Casden. The $1.5 billion acquisition included 17,383 apartments, including 6,356 conventional apartment units located in Southern California and 11,027 affordable apartment units in 25 states.[14][15]

In 2003, the company was added to the S&P 500 Index.[16][17]

References[edit]

  1. ^ a b c "Apartment Investment and Management Company 2018 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "AIMCo". Crunchbase.
  3. ^ "AIMCo / HOMECORP". Crunchbase.
  4. ^ HIRSH, LOU (April 22, 2013). "Piece of Local History Is Part of La Jolla Apartment Buy". American City Business Journals.
  5. ^ Rutledge, Tanya (November 24, 1996). "Low-profile New York investors to build huge industrial complex". American City Business Journals.
  6. ^ "APARTMENT INVESTMENT AGREES TO ACQUIRE NHP". Bloomberg News. The New York Times. April 22, 1997.
  7. ^ "APARTMENT INVESTMENT AGREES TO BUY 53% STAKE IN NHP". Dow Jones. The New York Times. February 21, 1997.
  8. ^ Knight, Jerry (December 10, 1997). "APARTMENT MANAGER NHP ACQUIRED BY DENVER TRUST". The Washington Post.
  9. ^ "Apartment Investment Adds 8,175 Units From Winthrop". The New York Times. Reuters. October 18, 1997.
  10. ^ "Insignia Financial Group Announces Residential Management Operations To Merge With AIMCO In $910 Million Transaction; Insignia/ESG To Be Spun Off To Insignia Shareholders" (Press release). PR Newswire. March 17, 1998.
  11. ^ HOLUSHA, JOHN (May 24, 1998). "Commercial Property/Insignia Financial Group; Shedding Residential to Focus on Commercial". The New York Times.
  12. ^ "Aimco completes purchase of Oxford". American City Business Journals. September 20, 2000.
  13. ^ "APARTMENT INVESTMENT AGREES TO ACQUIRE OXFORD FUND". The New York Times. Bloomberg News. December 1, 2000.
  14. ^ "Apartment Investment and Management Company Announces $1.5 Billion Acquisition of 17,383 Units From Casden Properties of Los Angeles" (Press release). PR Newswire. December 4, 2001.
  15. ^ SANCHEZ, JESUS (December 5, 2000). "Aimco Agrees to Buy Casden". Los Angeles Times.
  16. ^ "AMR booted from S&P 500". CNN. March 11, 2003.
  17. ^ "Bad weather hurts AIMCO in 1Q". American City Business Journals. May 7, 2003.

External links[edit]