Apartment Investment and Management Co

Apartment Investment and Management Company or Aimco (NYSE: AIV) is a real estate investment trust. It was incorporated on January 10th, 1994, and became a public company on July 29th, 1994. In subsequent years, Aimco grew quickly and was added to the S&P 500 Index in 2003. Its mission is to offer quality apartment homes to communities. The company owns a geographically diverse portfolio of apartment communities spanning across the US in Atlanta, San Francisco Bay Area, Los Angeles, Chicago, Denver, Philadelphia and Seattle. In the early 2000s, it emerged as one the largest owner and operator of apartment homes in the United States. Since 1994, it has acquired numerous companies. Some key acquisitions by the company include that of Insignia Financial Group in 1998 in a $980 million transaction, Casden Properties in 2002 for $1.5 billion, and a purchase of a six-asset Philadelphia portfolio for $445 million in 2020. In addition to its quantity, the company is also recognised for its quality and affordable housing. It was honoured by the National Affordable Housing Management Association for its number of cost-effective communities in 2007, 2008, 2009 and 2010. In 2020, Aimco was the recipient of the Top Workplace in Colorado Award for the eighth consecutive year. In the same year, Aimco also received its third consecutive BEST Award by the Association of Talent Development (ATD). Through Aimco Cares, its philanthropic initiative, the company raised $340,000 for military causes, scholars and local non-profits across the country in 2020. On September 14th 2020, Apartment Investment and Management Company announced its separation into two entities - Apartment Income REIT (AIR) and Aimco. Apartment Income REIT (AIR) offers a transparent platform for investors to invest in the multi-family real estate sector. Meanwhile, Aimco will retain its previous operations.