Sep. 16 at 3:37 PM
Apartment Investment and Management Co (Aimco) shares rose 3.3% after closing the sale of four Boston suburban properties for $ 490M and announcing a special dividend of
$2.23 per share, payable October 15, 2025, to shareholders of record on September 30, 2025. The dividend will distribute approximately $ 330M to shareholders. CEO Wes Powell highlighted that these transactions demonstrate Aimco’s commitment to unlocking shareholder value.
The properties sold include Royal Crest Estates (Marlboro & Warwick), Waterford Village, and Wexford Village, with proceeds used to pay down mortgage debt and the company’s revolving credit line. Royal Crest Estates in Nashua remains under contract for $ 250M, with closing expected within 30 days, while two Brickell, Miami assets are on track to close in Q4 2025 for $ 520M. If all pending sales close, Aimco will complete
$1.26B in divestitures in 2025, generating ~$ 785M net proceeds and returning
$4.00–
$4.20 per share to shareholders.
$AIV