Aimco provides strategic update; announces $256.5M dispositions, plans $90M shareholder return in Q1 2025

APARTMENT INVESTMENT & MANAGEMENT CO

Announced sale of The Hamilton and 3333 Biscayne Blvd for $203.8M (AIV share); closing year-end 2024, net proceeds to retire $110M debt and return ~$90M to shareholders in Q1 2025.
Selected buyer for Brickell Assemblage (Yacht Club & 1001 Brickell Bay Dr) with due diligence underway; closing in 2025 to retire ~$160M debt and return majority to shareholders.
Aimco has repurchased 14M shares since 2022 ($106M); Board increased authorization to 30M shares; ISS governance score of 1.
YTD 2024 stabilized NOI growth +4.0%; full-year revenue guidance raised to +3.75%–+4.25% (up 125 bps from beginning of year).
New development: 34th Street Miami ultra-luxury tower (114 units, $240M total costs, 7% yield on cost). Aimco contributed ~$5M equity for 44% stake.

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