Apartment Investment and Management Company recently completed the sale of the Brickell Assemblage and Nashua properties, marking significant transactions in its portfolio.
The Brickell Assemblage Sale in Miami, Florida, was finalized for $520 million, including Seller Financing Notes.
The Nashua Sale in Boston concluded at $250 million, with the assumption of non-recourse property debt by the purchaser.
Brickell Assemblage Sale
Sale completed for $520 million with $85 million in Seller Financing Notes, featuring escalating interest rates and exit fees.
Nashua Sale
Final property in Boston portfolio sold for $250 million, with assumption of $173.4 million in non-recourse property debt.
- The sales significantly impacted AIMCO's financial position, leading to adjustments in the pro forma financial information.
- The company's balance sheet reflects the effects of the Brickell Assemblage and Nashua sales, highlighting changes in assets and liabilities.
AIMCO's recent property sales have reshaped its portfolio and financial outlook, showcasing strategic decisions to optimize assets and capital.