Aimco Agrees To Sell, For $204M, Its Interests In Two Real Estate Investments In The Edgewater Neighborhood Of Miami, Florida
Portfolio Pulse from Benzinga Newsdesk
Aimco has agreed to sell its interests in two real estate investments in Miami's Edgewater neighborhood for $204 million. The transactions are expected to close by the end of 2024, allowing Aimco to retire $110 million in liabilities and return $90 million to stockholders in early 2025.
October 09, 2024 | 8:20 pm
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Aimco is selling its interests in two Miami real estate investments for $204 million. The sale will help retire $110 million in debt and return $90 million to stockholders by Q1 2025.
The sale of the Miami real estate investments will allow Aimco to significantly reduce its liabilities and return capital to stockholders, which is likely to be viewed positively by investors. The reduction in debt and return of capital can improve Aimco's financial position and shareholder value.
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