Apartment Investment and Management Company (Aimco) reported its financial results for the second quarter of 2025, revealing a net loss attributable to common stockholders of $19.3 million, or $0.14 per share, compared to a loss of $60.5 million, or $0.43 per share, in the same period last year. For the six months ended June 30, 2025, the net loss was $33.2 million, or $0.24 per share, down from a loss of $70.7 million, or $0.50 per share, in 2024. The company’s rental and other property revenues increased to $52.8 million for the quarter, up from $51.1 million year-over-year, and $105.1 million for the first half of 2025, compared to $101.4 million in 2024.
The company’s total operating expenses decreased to $47.4 million for the second quarter, down from $52.2 million in the prior year, primarily due to lower depreciation and amortization expenses, which fell to $16.4 million from $22.1 million. The reduction in expenses was attributed to the sale of certain properties and the classification of the Brickell Assemblage as held for sale. Aimco's net income (loss) before income tax improved significantly, with a loss of $11.4 million for the quarter, compared to a loss of $63.3 million in the same quarter of 2024.
In terms of operational developments, Aimco's portfolio included 5,243 apartment homes across 20 stabilized properties as of June 30, 2025. The company is actively engaged in several development projects, including Upton Place and Strathmore Square, which are in the lease-up phase. Aimco has also made significant strides in its capital allocation strategy, with $22.1 million invested in development and redevelopment activities during the second quarter, compared to $29.8 million in the same period last year.
Looking ahead, Aimco has entered into agreements to sell its suburban Boston portfolio for $740 million, with expected closings in the third and fourth quarters of 2025. Additionally, the company is set to close the sale of the Brickell Assemblage for $520 million in the fourth quarter of 2025. Aimco's liquidity position remains strong, with $173.5 million available as of June 30, 2025, including $41.4 million in cash and cash equivalents. The company anticipates that its operational cash flows, along with proceeds from planned asset sales, will be sufficient to meet its liquidity needs over the next twelve months.
About APARTMENT INVESTMENT & MANAGEMENT CO
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