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Aimco Completes Major Sale and Dividend Announcement

Apartment Investment and Management Company (Aimco), a prominent player in the real estate sector, recently announced the successful sale of four valuable properties located in suburban Boston, generating a substantial $490 million. This strategic move not only underscores Aimco's commitment to enhancing shareholder value but also sets the stage for a lucrative special cash dividend of $2.23 per share, which is set to be distributed on October 15, 2025.

The Sale in Detail

The four sold properties include Royal Crest Estates in Marlboro and Warwick, along with Waterford Village and Wexford Village. This timely transaction indicates Aimco’s robust strategy in making impactful asset sales. Wes Powell, Aimco's President and CEO, emphasized the importance of these sales, stating that they reaffirm Aimco's dedication to maximizing stockholder value. Both Morgan Stanley and Walker Dunlop played pivotal advisory roles in this transaction, ensuring a smooth process.

With approximately $330 million designated for distribution through this special dividend, Aimco chose to utilize a portion of the sales proceeds to retire mortgage loans associated with Royal Crest Estates (Marlboro) as well as to fully pay off the outstanding balance on its revolving credit facility. This proactive fiscal strategy reflects Aimco's focus on streamlining its operations and optimizing financial health.

Future Prospects

In addition to this recent sale, Aimco retains its remaining property in the Boston area, Royal Crest Estates (Nashua), which is also under contract with Harbor Group for an estimated $250 million. This sale is expected to close within the following month. Moreover, Aimco is on track to conclude the sale of two assets in Miami's Brickell neighborhood, anticipated to fetch $520 million, with closure expected in the fourth quarter of 2025. If these pending sales successfully materialize, Aimco's total dispositions in 2025 could amount to around $1.26 billion, with net proceeds estimated at approximately $785 million after settling liabilities.

This series of asset dispositions places Aimco in a favorable position to enhance shareholder returns significantly, projecting a possible return ranging from $4.00 to $4.20 per share.

Commitment to Shareholder Value

Aimco's strategic transactions reflect a methodical approach towards maximizing shareholder value. The management team, alongside their advisors, remains committed to exploring additional opportunities for value enhancement, which may include further asset sales or potential mergers. It is essential to note that while these initiatives are motivated by strong strategic intent, Aimco cannot guarantee the achievement of such outcomes, as market conditions can fluctuate unpredictably.

Important Note on Dividend Rights

Given that the special dividend amount represents more than 25% of Aimco's common share price, the New York Stock Exchange requires that shares be traded with