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Related Acquiring Affordable Portfolio from Aimco for $590M
Related Companies is acquiring 7,837 affordable housing units from Denver-based Apartment Investment and Management Company (Aimco) in a $590-million deal. Aimco’s Asset Management portfolio and four affordable real estate communities will now come under the Related Affordable umbrella, a division of Related Co.’s.
The units are located across 51 properties in 16 states, and includes the Hunters Point (pictured in background above) communities, four affordable, garden-style neighborhoods, with 604 apartment homes located in San Francisco.
Related plans to preserve the 51 properties as affordable. Once the closing of this transaction is complete, which is anticipated to occur in the third quarter of 2018, Related will begin implementing preservation plans for each property.
Related Affordable’s Matthew Finkle says, “We have preserved tens of thousands of affordable housing units across the country, and have never converted a single unit to market rate – a legacy we intend to extend to all of the 7,837 apartments in this portfolio.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


