On September 9, 2025, AIMCO completed the first closing of the Boston Portfolio, selling four out of five properties for $490 million.
The sale of the fifth property for $250 million is pending, with expected net proceeds of approximately $70 million after adjustments.
A special cash dividend of $2.23 per share was declared to be paid from the proceeds of the First Boston Closing.
Property Sale
AIMCO entered into a purchase and sale agreement to sell five properties in the Boston Portfolio for $740 million.
Financial Impact
The sale is classified as a discontinued operation, impacting AIMCO's financial statements starting from the quarter ended September 30, 2025.
Special Dividend
A special cash dividend of $2.23 per share was declared and will be funded from the sale proceeds.
- The sale of the Boston Portfolio signifies a strategic shift for AIMCO, affecting its operations and financial results significantly.
- AIMCO's decision to classify the sale as a discontinued operation indicates a major change in the company's strategy and focus.
The sale of the Boston Portfolio marks a strategic move for AIMCO, bringing in substantial proceeds and leading to changes in its financial reporting structure.