APARTMENT INVESTMENT & MANAGEMENT CO

Listed Company

AIVCIK 0000922864NYSELarge AcceleratedReal Estate Investment TrustsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$138.49M

Net Income

$592.97M

Total Assets

$1.68B

Equity

$361.85M

Shares Out

143.87M

Op. Cash Flow

$8.09M

Business

APARTMENT INVESTMENT & MANAGEMENT CO is a self-administered, self-managed real estate investment trust (REIT) that invests in and operates multifamily real estate. The company acquires, develops, redevelops, manages and disposes of apartment communities and holds certain indirect real estate-related debt and equity investments. Its business is organized around investment activities including stabilized core and core-plus assets, value-add and opportunistic development and redevelopment projects, and select alternative investments as described in its business segments. It targets investments and sources opportunities primarily in Southeast Florida, the Washington, D.C. metro area, and Colorado's Front Range.

Summary from filing dated 2025-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Rental and other property revenues	138	138	120	190	170
Property operating expenses	68	68	52	72	68
Depreciation and amortization	58	77	58	159	85
General and administrative expenses	34	33	33	40	33
Impairment on real estate	147	—	—	—	—
Total operating expenses	308	178	143	270	185
Interest income	9	10	10	4	2
Interest expense	−59	−59	−27	−74	−53
Realized and unrealized gains (losses) on interest rate contracts	−471,000	2	1	48	—
Realized and unrealized gains (losses) on equity investments	−6	−50	700,000	20	7
Gain on dispositions of real estate	237	11	8	176	—
Credit loss expense	−23	—	—	—	—
Other income (expense), net	−4	−6	−8	−13	3
Income (loss) from continuing operations before income tax	−16	−135	−194	109	−19
Income tax benefit (expense)	58	11	13	−17	14
Net income (loss) from continuing operations	42	−124	−181	—	—
Income (loss) from discontinued operations, net of taxes	551	28	24	—	—
Net income (loss)	593	−96	−157	92	−5
Net (income) loss attributable to redeemable noncontrolling interests in consolidated real estate partnerships	−13	−14	−14	−9	−91,000
Net (income) loss attributable to Common noncontrolling interests in consolidated real estate partnerships	−781,000	2	−4	−4	−1
Net (income) loss attributable to common noncontrolling interests in Aimco Operating Partnership	−25	6	9	−4	297,000
Net income (loss) attributable to Aimco	554	−102	−166	76	−6
Income (loss) from continuing operations attributable to Aimco per common share/unit - basic	0.2	−0.94	−1.32	—	—
Income (loss) from discontinued operations attributable to Aimco Operating Partnership per common share/unit	3.75	0.19	0.16	—	—
Net income (loss) attributable to Aimco Operating Partnership per common share/unit - basic (Note 10)	3.95	−0.75	−1.16	0.5	−0.04
Income (loss) from continuing operations attributable to Aimco per common share/unit	0.19	−0.94	−1.32	—	—
Income (loss) from discontinued operations attributable to Aimco Operating Partnership per common share/unit	3.68	0.19	0.16	—	—
Net income (loss) attributable to Aimco per common share - diluted (Note 10)	3.87	−0.75	−1.16	3.87	−0.04
Weighted-average common shares/units outstanding - basic	138	138	144	138	149
Weighted-average common shares/units outstanding - diluted	141	138	144	141	149

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2025 2025-10-31	FY 2025 2025-05-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Buildings and improvements	1,015	—	—	1,145	1,594
Land	222	—	—	247	621
Total real estate	1,237	—	—	1,392	2,215
Accumulated depreciation	−287	—	—	−323	−581
Net real estate	950	—	—	1,070	1,634
Cash and cash equivalents	395	—	—	141	123
Restricted cash	12	—	—	30	15
Notes receivable	104	—	—	59	58
Right-of-use lease assets- finance leases	106	—	—	108	109
Other assets, net	82	—	—	93	150
Assets from discontinued operations and held for sale, net	27	—	—	457	—
Total assets	1,676	—	—	1,957	2,089
Non-recourse property debt, net	339	—	—	444	846
Non-recourse construction loans and bridge financing, net	399	—	—	385	301
Total indebtedness	739	—	—	830	1,148
Deferred tax liabilities	0	—	—	101	110
Lease liabilities - finance leases	125	—	—	122	119
Dividends payable	4	—	—	89	—
Accrued liabilities and other	147	—	—	96	121
Liabilities related to discontinued operations and assets held for sale, net	108	—	—	407	—
Total liabilities	1,123	—	—	1,645	1,498
Redeemable noncontrolling interests in consolidated real estate partnerships	158	19	5	143	172
Commitments and contingencies (Note 13)	—	—	—	—	—
Common Stock, $0.01 par value, 140,158,784 and 136,351,966 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	1	—	—	1	1
Additional paid-in capital	429	8	300,000	425	465
Retained earnings (deficit)	−69	—	—	−303	−116
Total Aimco equity	362	—	—	123	350
Noncontrolling interests in consolidated real estate partnerships	20	—	—	40	51
Common noncontrolling interests in Aimco Operating Partnership	13	—	—	7	19
Total equity	395	—	—	169	420
Total liabilities and equity	1,676	—	—	1,957	2,089

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Share-based compensation	6	6	9	7	5
Loss on extinguishment of debt, net	2	947,000	938,000	29	—
Gain on dispositions of real estate	−237	−11	−8	−176	—
Other, including amortization of debt issuance costs	6	20	2	3	1
Depreciation and amortization	5	9	11	—	—
Income tax (benefit) expense	14	—	—	—	—
Gain on dispositions of real estate	−546	—	—	—	—
Other adjustments to income (loss) from discontinued operations	2	127,000	123,000	—	—
Operating assets, net	−2	−13	335,000	1	—
Operating liabilities, net	−8	12	−6	−28	—
Total adjustments	−585	143	208	112	18
Net cash provided by operating activities	8	47	50	204	13
Purchases of real estate	—	—	−4	−129	−70
Capital expenditures	−100	−160	−272	−238	−178
Proceeds from dispositions of real estate	973	186	9	260	—
Distributions received from unconsolidated real estate partnerships	—	—	4	—	—
Investment in unconsolidated real estate partnerships	—	−383,000	−4	−16	—
Proceeds from dispositions of unconsolidated real estate partnerships	—	6	—	—	—
Purchase of treasury bill	—	—	−54	—	—
Proceeds from treasury bill	—	—	55	—	—
Other investing activities	1	−958,000	6	−547,000	−727,000
Net cash provided by (used in) investing activities	875	31	−260	−121	−271
Proceeds from non-recourse construction loans and bridge financing	48	331	174	—	—
Proceeds from revolving credit facility	44	—	—	—	—
Proceeds from sale of participation in Mezzanine Investment	—	—	38	—	—
Principal repayments on non-recourse property debt	−228	−3	−86	−302	−24
Principal repayments on non-recourse construction loans and bridge financing	−42	−267	—	—	—
Principal repayments on revolving credit facility	−44	—	—	−534	—
Payments of deferred loan costs	−473,000	−6	−229,000	−15	−6
Purchase of interest rate contracts	−666,000	−710,000	−712,000	−6	−6
Proceeds from interest rate contracts	2	7	59	17	—
Payments on finance leases	−75,000	−514,000	−3	−26	−11
Common stock repurchased	−256,000	−39	−47	−23	—
Payments related to withholding taxes for share-based compensation	−4	−941,000	—	—	—
Dividends paid on common stock and distributions paid on OP Units	−416	—	—	−3	—
Redemption of redeemable noncontrolling interests	—	−38	—	−5	—
Distributions to redeemable noncontrolling interests	−8	−8	−9	−9	—
Contributions from noncontrolling interests in consolidated real estate partnerships	585,000	1	272,000	11	212,000
Distributions to noncontrolling interests in consolidated real estate partnerships	−1	−2	−1	−1	−1
Contributions from redeemable noncontrolling interests	16	6	125,000	123	29
Redemption of OP Units held by third parties	−648,000	−983,000	−1	−225,000	—
Purchase of redeemable noncontrolling interests in consolidated real estate partnerships	−5	—	—	—	—
Purchase of noncontrolling interests in consolidated real estate partnerships	−8	−19	—	—	—
Other financing activities	−992,000	−2	−4	−197,000	−1
Net cash provided by (used in) financing activities	−649	−44	119	−98	205
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	234	34	−90	−15	−54

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