APARTMENT INVESTMENT AND MANAGEMENT COMPANY (AIMCO) completed the sale of the Brickell Assemblage in Miami, Florida, and the Nashua property in Boston.
The Brickell Assemblage Sale amounted to $520 million, including $85 million in Seller Financing Notes with unique terms.
The Nashua Sale fetched $250 million with the assumption of non-recourse property debt.
Strategic Sales
AIMCO strategically sold the Brickell Assemblage and Nashua property to streamline its portfolio and optimize capital allocation.
Seller Financing Notes
The Seller Financing Notes from the Brickell Assemblage Sale have varying interest rates and renewal options, providing flexibility to the buyer.
Pro Forma Impact
The unaudited pro forma financial information reflects the impact of the sales on AIMCO's balance sheet and financial performance.
- The sales of the Brickell Assemblage and Nashua property have reshaped AIMCO's asset portfolio, enabling a focus on more profitable ventures.
- The Seller Financing Notes structure in the Brickell Sale showcases innovative financing strategies in real estate transactions.
AIMCO's recent property sales mark a strategic shift in its asset allocation strategy, enhancing financial flexibility and opening new growth opportunities.