Apartment Investment and Management Co (NYSE: AIV), known as Aimco, is a Maryland-based real estate investment trust (REIT) that owned and operated a portfolio of apartment communities across the United States. As of the 10-K filed March 2, 2026 (accession 000119312526085547), Aimco is executing a Plan of Sale and Liquidation, systematically selling its remaining real estate assets and returning capital to stockholders. Revenue historically came from rental income generated by its apartment communities, managed through a self-administered and self-managed structure. Aimco separated from Apartment Income REIT Corp. (AIR) on December 15, 2020, creating two distinct publicly traded companies from the prior combined entity. As of December 31, 2025, Aimco owned 94.1% of the legal interest in the common partnership units of Aimco Operating Partnership. Total 2025 dividends reached $2.83 per share, including a special cash dividend of $2.23 per share paid October 15, 2025, with an initial liquidating distribution of $1.45 per share scheduled for March 13, 2026, totaling approximately $220 million.

Revenue model

Aimco historically generated revenue from residential rental income across its apartment communities. Under the active Plan of Sale and Liquidation, cash flows are now driven by asset sale proceeds, including the agreed sale of seven Chicago-area apartment communities for $455 million and two New York City and one Atlanta property for a combined $56.5 million (agreements reached December 2025 and Q1 2026). Liquidating distributions are being returned to stockholders as assets are monetized.

Products and services

Apartment communities held for sale across multiple U.S. markets, including properties in Chicago, New York City, Atlanta, Nashville, Plantation (Florida), and Aurora (Colorado). Aimco also previously held the Benson Hotel and Faculty Club in Aurora, Colorado, sold in February 2026 as part of a combined $177.5 million transaction covering three properties.

Customers and end markets

Residential apartment tenants across U.S. urban and suburban markets. Background checks on prospective tenants are conducted via third-party property managers using consumer reporting agencies. No customer concentration disclosures are present in the filing excerpts.

Value-chain role

Self-administered and self-managed REIT acting as property owner and, through Aimco Operating Partnership, general partner. Third-party property managers are used for certain operational functions including tenant screening.

Geographic exposure

U.S. apartment markets including Chicago, New York City, Atlanta, Nashville (Tennessee), Plantation (Florida), Aurora (Colorado), and previously suburban Boston. Geographic concentration is noted as a risk factor for natural disaster exposure.

Source: SEC 10-K, filed 2026-03-02

Industry: Real Estate Investment Trusts Peers: Apartment Income REIT Corp. AvalonBay Communities Inc Bluerock Residential Growth REIT, Inc. Centerspace Independence Realty Trust, Inc NexPoint Residential Trust Inc PREFERRED APARTMENT COMMUNITIES INC UMH Properties Inc Elme Communities