Aimco or Apartment Investment and Management Company is a publicly traded

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

. As of December 31, 2020, the company owned 27 apartment communities comprising 6,342 apartment units in 12 states and the

District of Columbia ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

History

Aimco traces its roots to The Considine Company, formed in 1975 by Terry Considine. Aimco was incorporated on January 10, 1994. On July 29, 1994, the company became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

via an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investme ...

. In 1996, Aimco acquired Walters Management Company and the J.W. English Company. In 1997, Aimco acquired National Housing Partnership Incorporated, which owned 87,659 apartments. In October 1997, Aimco acquired 8,175 apartment units from Winthrop. In 1998, Aimco acquired

Insignia Financial Group Insignia Financial Group was a company that invested in apartments that were financially distressed, with the goal of increasing value via recapitalization. It was founded and controlled by billionaire Andrew L. Farkas and was headquartered i ...

in a $910 million transaction. In 2000, the company acquired Oxford Realty Financial Group, which owned interests in 36,662 apartment units, for $314 million. Also in 2000, the company acquired the Oxford Tax-Exempt Fund for $206 million. In 2002, Aimco acquired Casden Properties, founded by

Alan Casden Alan I. Casden (born 1945) is an American real estate developer, investor and philanthropist. His real estate companies have developed over 90,000 multi-family apartments since the 1980s. He also owns 3,100 luxury apartments in Los Angeles. Ear ...

. The $1.5 billion acquisition included 17,383

apartments An apartment (American English), or flat (British English, Indian English, South African English), is a self-contained housing unit (a type of residential real estate) that occupies part of a building, generally on a single story. There are man ...

, including 6,356 conventional apartment units located in

Southern California Southern California (commonly shortened to SoCal) is a geographic and cultural region that generally comprises the southern portion of the U.S. state of California. It includes the Los Angeles metropolitan area, the second most populous urban a ...

and 11,027 affordable apartment units in 25 states. In 2003, the company was added to the

S&P 500 The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of ...

index. It was removed from the index in December 2020. In December 2020, it completed the

corporate spin-off A corporate spin-off, also known as a spin-out, or starburst or hive-off, is a type of corporate action where a company "splits off" a section as a separate business or creates a second incarnation, even if the first is still active. Characte ...

of Apartment Income REIT Corp.

References

External links

* {{DEFAULTSORT:Aimco Financial services companies established in 1975 1975 establishments in Colorado American companies established in 1975 Companies based in Denver Companies listed on the New York Stock Exchange Real estate investment trusts of the United States Real estate companies established in 1975