Apartment Income REIT Corp.
aircommunities.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q1 FY2024 10-Q, filed May 8, 2024. Its latest SEC filing is a 15-12G from Jul 8, 2024.
10-Q for Q1 FY2024, filed May 8, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Owned and operated stabilized apartment communities, leasing homes to residents in U.S. markets.
10-K for FY2023, filed Feb 16, 2024
How Did They Make Money?
Residents paid rent for apartment homes, and the company also earned revenue from services such as telecommunications, parking, package lockers and storage rentals.
10-K for FY2023, filed Feb 16, 2024We seek to improve our property operations through application of the AIR Edge. Our ideal is a culture where we service others, nurture…View ↗
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10-K for FY2023, filed Feb 16, 2024
FY2023 revenue by product or service ↗
$820M
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10-K for FY2023, filed Feb 17, 2024
$820M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Rental and other property revenues
Recurring
10-K for FY2023, filed Feb 16, 2024 |
99%
FY2020: 100%
|
Rental and other property revenues, FY2023
$809.9M Sources
|
Recurring |
|
Other revenues
|
1.2%
FY2020: 0.0%
|
Other revenues, FY2023
$10.2M Sources
|
Who Were Their Customers?
Residents leased apartment homes at the company’s communities, with local property teams supporting leasing and resident services.
10-K for FY2023, filed Feb 16, 2024We own and operate a portfolio of stabilized apartment communities on our market-leading operating platform, diversified by both geography…View ↗
To manage our property operations efficiently and to increase the benefits from our local management expertise, we give direct…View ↗
Customer Satisfaction. Our operating culture is focused on our residents and providing them with a high level of service in a clean, safe…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 77 cents of every revenue dollar as net income in FY2023.
10-K for FY2023, filed Feb 17, 2024
10-K for FY2023, filed Feb 17, 2024
$635.1MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q1 FY2024, filed May 9, 2024
−$6.6MView ↗
- ▼ −42% (Loss)
- vs −$11.4M in Q1 FY2023
10-Q for Q1 FY2024, filed May 8, 2024
Open tableView ↗
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Jul 1, 2024
Blackstone completed its acquisition of AIR Communities
The all-cash transaction was valued at approximately $10 billion, including assumed debt.
Sources
8-K, filed Jul 1, 2024
NEW YORK & DENVER – JUNE 28, 2024 – Blackstone (NYSE: BX) and Apartment Income REIT Corp. (“AIR Communities” or the “Company”) today…View ↗
Held flat. Revenue was $820M in FY2023, about the same as the $770.6M of FY2019.
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