Apartment Investment and Management Company (Aimco) reported significant financial results for the third quarter of 2025, highlighting a net income attributable to common stockholders of $286.7 million, a substantial increase from a net loss of $21.9 million in the same period last year. For the nine months ended September 30, 2025, net income attributable to common stockholders was $253.5 million, compared to a loss of $92.6 million in 2024. The company’s rental and other property revenues for the quarter were $35.1 million, slightly down from $35.3 million in the prior year, while year-to-date revenues increased to $103.8 million from $101.6 million.
The financial performance was notably impacted by the sale of four suburban Boston properties for $490 million, which contributed to a gain on dispositions of real estate amounting to $377.1 million. This transaction allowed Aimco to retire associated debt and distribute a special cash dividend of $2.23 per share to stockholders. The fifth property in the Boston portfolio was sold for $250 million in October 2025, further enhancing the company’s liquidity position, which stood at $425.1 million as of September 30, 2025.
Operationally, Aimco's portfolio consisted of 15 stabilized apartment communities with 2,524 units, achieving an occupancy rate of 94.8%. The average monthly revenue per apartment home increased to $2,531, reflecting a $74 rise year-over-year. However, property net operating income from the operating segment decreased by 3.4% to $11.6 million, primarily due to increased real estate tax assessments. The company also recognized a $57.4 million impairment charge related to certain properties, marking a significant operational challenge.
Looking ahead, Aimco's Board of Directors approved a Plan of Sale and Liquidation on November 10, 2025, which is subject to stockholder approval. This plan aims for the complete liquidation and dissolution of the company, with expectations for stockholder meetings in early 2026. The company anticipates that the plan will materially impact its capital needs and liquidity requirements, emphasizing the importance of stockholder support for its future direction. Aimco's management remains focused on maintaining liquidity and managing its portfolio effectively during this transition period.
About APARTMENT INVESTMENT & MANAGEMENT CO
Apartment Investment and Management Company (Aimco) is a self-managed real estate investment trust (REIT) focused on multifamily real estate investments in targeted U.S. markets. With a diversified portfolio of value-add and stabilized properties, Aimco aims to deliver superior risk-adjusted returns. The company emphasizes capital redeployment and active portfolio management, targeting growth in high-demand areas like Southeast Florida and the Washington, D.C. Metro Area while maintaining a commitment to corporate responsibility and employee well-being.
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