Aimco Announces Expansion of Process to Maximize Shareholder Value Following Agreement to Sell Brickell Properties

DENVER, Jan. 9, 2025 /PRNewswire/ -- As previously announced on December 30, 2024, Apartment Investment and Management Company ("Aimco" or the "Company") (NYSE: AIV) entered into an agreement to sell the properties located at 1001 Brickell Bay Drive and 1111 Brickell Bay Drive in Miami, Florida (together referred to as the "Brickell Assemblage") for a gross price of $520 million. The buyer has completed due diligence and has made a non-refundable deposit of $38 million.  Aimco intends to return the majority of the net proceeds from the transaction, after accounting for the associated property-level debt and deferred tax liability, to shareholders.

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