Apartment Investment and Management Company (Aimco) reported a significant financial turnaround for the fiscal year ending December 31, 2025, with a net income attributable to common stockholders of $554.0 million, translating to earnings per share of $3.87 on a fully diluted basis. This marks a substantial recovery from a net loss of $102.5 million in the previous year. The company’s property net operating income (PNOI) from its operating segment was $47.6 million, a decrease of 2.0% year-over-year, attributed to rising operating expenses, particularly in real estate taxes.
In 2025, Aimco executed a strategic plan that included the sale of $1.26 billion in real estate assets, including notable transactions such as the sale of the Brickell Assemblage for $520 million and a suburban Boston portfolio for $740 million. The company also declared a special cash dividend of $2.23 per share, contributing to a total of $2.83 per share in dividends for the year. Following the adoption of a Plan of Sale and Liquidation on February 6, 2026, Aimco is set to continue monetizing its assets and returning proceeds to stockholders.
Operationally, Aimco managed a portfolio of 15 stabilized apartment communities, with an average occupancy rate of 96.0%. The company reported a slight increase in rental revenue, reaching $72.5 million, while expenses rose to $24.9 million, primarily due to property assessments in Chicago. The company’s development segment remains active, with one project under construction in Miami, expected to complete in 2027.
As of December 31, 2025, Aimco held $394.9 million in cash and cash equivalents, alongside $11.7 million in restricted cash. The company’s total assets were valued at approximately $1.68 billion, with total liabilities of $1.12 billion. Aimco's leverage remains manageable, with all outstanding debt either fixed-rate or hedged, and no debt maturing before June 2027. The company anticipates that its current liquidity, combined with proceeds from asset sales, will be sufficient to meet operational needs and obligations during the liquidation process.
Looking ahead, Aimco's management has indicated that the execution of the Plan of Sale and Liquidation will be closely monitored, with the potential for adjustments based on market conditions and asset performance. The company remains committed to returning capital to stockholders while navigating the complexities of its ongoing liquidation strategy.
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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