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Phoenix & Southwest  + Southwest  + Apartments  | 

Aimco Forms $10B MF REIT, Closes $2.4B JV

Denver-based Apartment Investment and Management Company (Aimco) plans to separate into two publicly traded companies, Apartment Income REIT (AIR) and Aimco. The strategy involves refining the concept of AIR as a “pure play” apartment investment vehicle and refocusing Aimco on development and redevelopment opportunities.

AIR, a newly formed, self-managed REIT, will be separated from Aimco by a reverse spin-off. Aimco will retain its growing business of developing and redeveloping apartment communities while also pursuing other accretive transactions.

AIR plans to own 93.5% of a portfolio of 98 stabilized properties with 26,599 apartment homes valued at $10.4 billion, selected from the existing Aimco portfolio including assets in Boston, Philadelphia, Washington DC, Denver, the Bay Area, Los Angeles, Miami, and San Diego.

Aimco also entered into a ten-year joint venture with an unnamed passive institutional investor to own jointly 12 multifamily properties with 4,051 units valued at $2.4 billion in California.

AIR’s management team will be headquartered in Denver, while Aimco’s management team will have its principal offices in Bethesda, MD, as well as Denver.

For comments, questions or concerns, please contact Dennis Kaiser

*Pictured Parc Mosaic Boulder

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition
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