$AIV
APARTMENT INVESTMENT & MANAGEMENT CO

2023 Q3 Form 10-Q Financial Statement

#000095017023039094 Filed on August 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $47.70M $45.67M
YoY Change 0.04% -9.91%
Cost Of Revenue $18.30M $18.78M
YoY Change 4.84% -4.69%
Gross Profit $29.40M $26.89M
YoY Change -2.74% -13.22%
Gross Profit Margin 61.63% 58.88%
Selling, General & Admin $8.200M $7.890M
YoY Change -24.14% -11.95%
% of Gross Profit 27.89% 29.34%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.80M $17.03M
YoY Change -79.17% -51.15%
% of Gross Profit 60.54% 63.33%
Operating Expenses $44.33M $43.70M
YoY Change -61.01% -31.21%
Operating Profit $3.371M $1.970M
YoY Change -105.11% -115.35%
Interest Expense $8.252M $9.656M
YoY Change -15.09% -76.76%
% of Operating Profit 244.79% 490.15%
Other Income/Expense, Net -$1.593M -$1.413M
YoY Change 524.71% 0.0%
Pretax Income -$4.536M -$273.0K
YoY Change -127.31% -100.09%
Income Tax -$6.200M -$400.0K
% Of Pretax Income
Net Earnings -$2.260M -$3.602M
YoY Change -107.78% -101.53%
Net Earnings / Revenue -4.74% -7.89%
Basic Earnings Per Share -$0.02 -$0.02
Diluted Earnings Per Share -$0.02 -$0.02
COMMON SHARES
Basic Shares Outstanding 147.9M 148.6M
Diluted Shares Outstanding 143.3M 144.2M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $96.00M $165.0M
YoY Change -53.48% 101.7%
Cash & Equivalents $95.68M $165.0M
Short-Term Investments
Other Short-Term Assets $14.00M $13.85M
YoY Change 33.47% -22.85%
Inventory
Prepaid Expenses
Receivables $3.000M $4.202M
Other Receivables $1.000M $636.0K
Total Short-Term Assets $114.0M $183.7M
YoY Change -48.33% -36.78%
LONG-TERM ASSETS
Property, Plant & Equipment $1.739B $1.677B
YoY Change 17.95% 12.47%
Goodwill
YoY Change
Intangibles $13.57M $13.63M
YoY Change 1054.17% 750.94%
Long-Term Investments $158.2M $158.3M
YoY Change -56.4% -55.33%
Other Assets $36.00M $47.66M
YoY Change -19.06% -42.38%
Total Long-Term Assets $2.137B $2.033B
YoY Change 2.95% -4.52%
TOTAL ASSETS
Total Short-Term Assets $114.0M $183.7M
Total Long-Term Assets $2.137B $2.033B
Total Assets $2.251B $2.216B
YoY Change -1.98% -8.39%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $111.0M $118.7M
YoY Change -11.29% -11.16%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $111.0M $118.7M
YoY Change -11.29% -11.16%
LONG-TERM LIABILITIES
Long-Term Debt $1.238B $1.182B
YoY Change 19.17% -7.05%
Other Long-Term Liabilities $34.00M $33.98M
YoY Change
Total Long-Term Liabilities $1.272B $1.216B
YoY Change 22.44% -4.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $111.0M $118.7M
Total Long-Term Liabilities $1.272B $1.216B
Total Liabilities $1.495B $1.449B
YoY Change 16.34% -6.07%
SHAREHOLDERS EQUITY
Retained Earnings $35.21M $37.49M
YoY Change -85.97% -83.31%
Common Stock $1.420M $1.438M
YoY Change -4.83% -3.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $508.9M $522.2M
YoY Change
Total Liabilities & Shareholders Equity $2.251B $2.216B
YoY Change -1.98% -8.39%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income -$2.260M -$3.602M
YoY Change -107.78% -101.53%
Depreciation, Depletion And Amortization $17.80M $17.03M
YoY Change -79.17% -51.15%
Cash From Operating Activities $24.90M $12.09M
YoY Change -87.73% -35.94%
INVESTING ACTIVITIES
Capital Expenditures $82.30M $69.21M
YoY Change -192.89% -153.89%
Acquisitions
YoY Change
Other Investing Activities -$55.20M $5.812M
YoY Change -142.13% -94.92%
Cash From Investing Activities -$137.5M -$63.40M
YoY Change -424.08% 354.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 36.20M 55.05M
YoY Change -131.71% -162.38%
NET CHANGE
Cash From Operating Activities 24.90M 12.09M
Cash From Investing Activities -137.5M -63.40M
Cash From Financing Activities 36.20M 55.05M
Net Change In Cash -76.40M 3.731M
YoY Change -158.26% -104.48%
FREE CASH FLOW
Cash From Operating Activities $24.90M $12.09M
Capital Expenditures $82.30M $69.21M
Free Cash Flow -$57.40M -$57.13M
YoY Change -119.69% -138.79%

Facts In Submission

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CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
150423000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145007000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
150660000
CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
581985000
CY2022Q2 aiv Net Income Loss Excluding Redeemable Noncontrolling Interests
NetIncomeLossExcludingRedeemableNoncontrollingInterests
252142000
CY2022Q2 aiv Redemptions Of Aimco Operating Partnership Units Amount
RedemptionsOfAimcoOperatingPartnershipUnitsAmount
-10000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1608000
CY2023Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
310000
CY2022Q2 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
-7244000
CY2022Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
3102000
CY2022Q2 us-gaap Stockholders Equity Other
StockholdersEquityOther
-47000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
825022000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
608749000
CY2023Q2 aiv Net Income Loss Excluding Redeemable Noncontrolling Interests
NetIncomeLossExcludingRedeemableNoncontrollingInterests
-3432000
CY2023Q2 aiv Redemptions Of Aimco Operating Partnership Units Amount
RedemptionsOfAimcoOperatingPartnershipUnitsAmount
366000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1876000
CY2023Q2 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
113000
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
310000
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
7870000
CY2023Q2 us-gaap Stockholders Equity Other
StockholdersEquityOther
-1000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
598759000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
562233000
aiv Net Income Loss Excluding Redeemable Noncontrolling Interests
NetIncomeLossExcludingRedeemableNoncontrollingInterests
260784000
aiv Redemptions Of Aimco Operating Partnership Units Amount
RedemptionsOfAimcoOperatingPartnershipUnitsAmount
-143000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4037000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
605000
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
9718000
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
-7244000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
4419000
aiv Net Issuances Of Common Stock And Other
NetIssuancesOfCommonStockAndOther
961000
aiv Redemption Of Redeemable Noncontrolling Interests In Consolidated Real Estate Partnerships
RedemptionOfRedeemableNoncontrollingInterestsInConsolidatedRealEstatePartnerships
-183000
us-gaap Stockholders Equity Other
StockholdersEquityOther
-117000
CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
825022000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
625358000
aiv Net Income Loss Excluding Redeemable Noncontrolling Interests
NetIncomeLossExcludingRedeemableNoncontrollingInterests
-12458000
aiv Redemptions Of Aimco Operating Partnership Units Amount
RedemptionsOfAimcoOperatingPartnershipUnitsAmount
-620000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6698000
us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
163000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
597000
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
22592000
aiv Net Issuances Of Common Stock And Other
NetIssuancesOfCommonStockAndOther
2812000
us-gaap Stockholders Equity Other
StockholdersEquityOther
-5000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
598759000
us-gaap Profit Loss
ProfitLoss
-5609000
us-gaap Profit Loss
ProfitLoss
263323000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
33302000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
57981000
aiv Realized And Unrealized Gains Losses On Interest Rate Options
RealizedAndUnrealizedGainsLossesOnInterestRateOptions
2326000
aiv Realized And Unrealized Gains Losses On Interest Rate Options
RealizedAndUnrealizedGainsLossesOnInterestRateOptions
38795000
aiv Realized And Unrealized Gains Losses On Equity Investments
RealizedAndUnrealizedGainsLossesOnEquityInvestments
1231000
aiv Realized And Unrealized Gains Losses On Equity Investments
RealizedAndUnrealizedGainsLossesOnEquityInvestments
22297000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4613000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
41901000
us-gaap Share Based Compensation
ShareBasedCompensation
5965000
us-gaap Share Based Compensation
ShareBasedCompensation
4513000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-929000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-27482000
aiv Lease Modification Income
LeaseModificationIncome
205387000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
1878000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
94465000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1114000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1421000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1244000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-2201000
aiv Increase Decrease In Net Cash Received From Lease Incentive
IncreaseDecreaseInNetCashReceivedFromLeaseIncentive
7895000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-6686000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-3528000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
23294000
us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
-237945000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17685000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
25378000
us-gaap Payments To Acquire Residential Real Estate
PaymentsToAcquireResidentialRealEstate
4108000
us-gaap Payments To Acquire Residential Real Estate
PaymentsToAcquireResidentialRealEstate
100758000
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
129919000
us-gaap Payments For Capital Improvements
PaymentsForCapitalImprovements
124813000
us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
ProceedsFromSaleOfRealEstateHeldforinvestment
126769000
us-gaap Payments To Acquire Equity Securities Fv Ni
PaymentsToAcquireEquitySecuritiesFvNi
14227000
us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
1387000
us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
12244000
us-gaap Proceeds From Distributions Received From Real Estate Partnerships
ProceedsFromDistributionsReceivedFromRealEstatePartnerships
4209000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-4570000
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
116000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-126635000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-125389000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
614720000
us-gaap Proceeds From Construction Loans Payable
ProceedsFromConstructionLoansPayable
73152000
us-gaap Proceeds From Construction Loans Payable
ProceedsFromConstructionLoansPayable
33607000
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
229000
us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
6620000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
61541000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
283826000
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
387088000
us-gaap Proceeds From Derivative Instrument Financing Activities
ProceedsFromDerivativeInstrumentFinancingActivities
55687000
us-gaap Proceeds From Derivative Instrument Financing Activities
ProceedsFromDerivativeInstrumentFinancingActivities
13660000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1523000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
25366000
aiv Payments Of Prepayment Premiums
PaymentsOfPrepaymentPremiums
21395000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
22391000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4419000
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
PaymentsForRepurchaseOfRedeemableNoncontrollingInterest
7244000
aiv Distributions To Redeemable Noncontrolling Interests
DistributionsToRedeemableNoncontrollingInterests
5152000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
163000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
9718000
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
597000
us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
605000
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
125000
us-gaap Proceeds From Partnership Contribution
ProceedsFromPartnershipContribution
20392000
aiv Redemption Of Operating Partnership Units
RedemptionOfOperatingPartnershipUnits
621000
aiv Redemption Of Operating Partnership Units
RedemptionOfOperatingPartnershipUnits
133000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
5094000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-3024000
us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-569000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
71549000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-50262000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-37401000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-150273000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
229766000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
244582000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
192365000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94309000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
62800000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
29100000
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Note 1 — Organization</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Apartment Investment and Management Company (“Aimco”), a Maryland corporation incorporated on January 10, 1994, is a self-administered and self-managed real estate investment trust (“REIT”). On December 15, 2020, Aimco completed the separation of its businesses (the “Separation”), creating two, separate and distinct, publicly traded companies, Aimco and Apartment Income REIT Corp. (“AIR”) (Aimco and AIR together, as they existed prior to the Separation, “Aimco Predecessor”). Events noted in this filing as occurring before December 15, 2020, were those entered into by Aimco Predecessor. Aimco, through a wholly owned subsidiary, is the general and special limited partner of Aimco OP L.P. (“Aimco Operating Partnership”).</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Except as the context otherwise requires, “we,” “our,” and “us” refer to Aimco, Aimco Operating Partnership, and their consolidated subsidiaries, collectively.</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">As of June 30, 2023, Aimco owned </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">92.5</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> of the legal interest in the common partnership units of Aimco Operating Partnership and </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">94.9</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> of the economic interest in Aimco Operating Partnership. The remaining </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">7.5</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> legal interest is owned by limited partners. The common partnership units of Aimco Operating Partnership are referred to as "OP Units". As the sole general partner of Aimco Operating Partnership, Aimco has exclusive control of Aimco Operating Partnership’s day-to-day management.</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">We own or lease a portfolio of real estate investments focused primarily on the U.S. multifamily sector. These real estate investments include: a portfolio of </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">26</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> operating apartment communities (</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">22</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> consolidated properties with </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">5,640</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> apartment homes and </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">four</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> unconsolidated operating properties), diversified by both geography and price point; </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> commercial office building that is part of a land assemblage; </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">one</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> hotel, with </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">106</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> rooms; </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">three</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> residential apartment communities, with </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1,185</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> apartment homes, of which </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">276</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> have been completed and an additional </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">909</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> are planned, and a single family rental community with </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">16</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> planned homes plus </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">eight</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> accessory dwelling units, which we are actively developing or redeveloping; land parcels held for development. Our real estate portfolio also includes </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">two unconsolidated investments in land held for development. In addition, we hold other alternative investments, including our Mezzanine Investment (see </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Note 2 </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">for further information</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">); our investment in IQHQ, Inc. ("IQHQ"); and our investment in real estate technology funds.</span></p>
aiv Redeemable Noncontrolling Interest Policies
RedeemableNoncontrollingInterestPolicies
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Common Noncontrolling Interests in Aimco Operating Partnership</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Common noncontrolling interests in Aimco Operating Partnership consist of OP Units held by third parties, and are reflected in Aimco’s accompanying </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Condensed Consolidated Balance Sheets</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> as </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Common Noncontrolling Interests in Aimco Operating Partnership</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">. Aimco Operating Partnership’s income or loss is allocated to the holders of OP Units, other than Aimco, based on the weighted-average number of OP Units (including Aimco) outstanding during the period. For the periods ended June 30, 2023 and 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, the holders of OP Units had a weighted-average economic ownership interest in Aimco Operating Partnership of approximately </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">5.1</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">%</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, and </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">5.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">%, respectively. Substantially all of the assets and liabilities of Aimco are held by Ai</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">mco Operating Partnership.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Redeemable Noncontrolling Interests in Consolidated Real Estate Partnerships</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Redeemable noncontrolling interests consist of equity interests held by a limited partner in a consolidated real estate partnership that has a finite life. If a consolidated real estate partnership includes redemption rights that are not within our control, the noncontrolling interest is included as temporary equity.</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Redeemable noncontrolling interests in consolidated real estate partnerships as of June 30, 2023, consists of the following: (i) a </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">102.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million preferred equity interest in an entity that owns a portfolio of operating apartment communities and (ii) equity interests in two separate consolidated joint ventures that are actively developing residential apartment communities. Capital contributions, distributions, and net income attributable to redeemable noncontrolling interests in consolidated real estate partnerships are determined in accordance with the relevant partnership agreements. These interests are presented as </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Redeemable noncontrolling interests in consolidated real estate partnerships</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> in our </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Condensed Consolidated Balance Sheet</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> as of</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">June 30, 2023.</span></p><div style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The following table shows changes in our redeemable noncontrolling interests in consolidated real estate partnerships from </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">December 31, 2022 to June 30, 2023 (in thousands):</span></p> <table style="margin-left:auto;border-spacing:0;table-layout:fixed;width:100.0%;border-collapse:separate;margin-right:auto;"> <tr style="visibility:collapse;"> <td style="width:71.916%;"></td> <td style="width:3.074%;"></td> <td style="width:1.0%;"></td> <td style="width:23.009%;"></td> <td style="width:1.0%;"></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:5.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="margin-left:5.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Balance at December 31, 2022</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">166,826</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="margin-left:10.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Capital contributions</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">125</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="margin-left:10.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Distributions</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">(</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">5,152</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">)</span></p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(255,255,255,1);text-indent:10.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="margin-left:10.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Net income</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">6,849</span></p></td> <td style="background-color:rgba(255,255,255,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:0.5pt solid rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> </tr> <tr style="height:10.0pt;"> <td style="background-color:rgba(207,240,252,1);text-indent:5.0pt;word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="margin-left:5.0pt;text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Balance at June 30, 2023</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="white-space:pre-wrap;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:pre-wrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);text-align:center;"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:right;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">168,648</span></p></td> <td style="background-color:rgba(207,240,252,1);word-break:break-word;white-space:nowrap;vertical-align:bottom;border-bottom:2.25pt double rgba(0,0,0,1);"><p style="text-indent:0.0pt;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p></td> </tr> </table></div>
aiv Holders Of Common Op Units Economic Interest
HoldersOfCommonOPUnitsEconomicInterest
0.051
aiv Holders Of Common Op Units Economic Interest
HoldersOfCommonOPUnitsEconomicInterest
0.05
CY2023Q2 aiv Preferred Equity Investment Amount
PreferredEquityInvestmentAmount
102000000
CY2023Q2 aiv Percentage Of Noncontrolling Position Sold
PercentageOfNoncontrollingPositionSold
0.20
CY2023Q2 aiv Proceeds From Sale Of Noncontrolling Position
ProceedsFromSaleOfNoncontrollingPosition
33500000
CY2023Q2 aiv Percentage Of Noncontrolling Position Remaining
PercentageOfNoncontrollingPositionRemaining
0.80
CY2023Q2 aiv Additional Proceeds From Sale Of Noncontrolling Position
AdditionalProceedsFromSaleOfNoncontrollingPosition
134000000
CY2023Q2 aiv Minimum Interest Accruing Percentage
MinimumInterestAccruingPercentage
0.19
CY2023Q2 aiv Interest Prepayment Received
InterestPrepaymentReceived
4000000
CY2023Q2 aiv Consolidated Income Loss Subject To Tax
ConsolidatedIncomeLossSubjectToTax
-2500000
aiv Consolidated Income Loss Subject To Tax
ConsolidatedIncomeLossSubjectToTax
-7400000
CY2022Q2 aiv Consolidated Income Loss Subject To Tax
ConsolidatedIncomeLossSubjectToTax
181400000
aiv Consolidated Income Loss Subject To Tax
ConsolidatedIncomeLossSubjectToTax
166600000
CY2023Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-400000
CY2022Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
46000000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4600000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
41900000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:2.667%;font-size:10.0pt;margin-top:9.0pt;font-family:Times New Roman;margin-bottom:9.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of our condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts included in the financial statements and accompanying notes thereto. Actual results could differ from those estimates.</span></p>
CY2023Q2 us-gaap Other Investments
OtherInvestments
65554000
CY2022Q4 us-gaap Other Investments
OtherInvestments
63982000
CY2023Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
18493000
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
20460000
CY2023Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
13851000
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
17363000
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
13632000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
14160000
CY2023Q2 aiv Corporate Fixed Assets
CorporateFixedAssets
9341000
CY2022Q4 aiv Corporate Fixed Assets
CorporateFixedAssets
8371000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
346000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1206000
CY2023Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
4202000
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
4079000
CY2023Q2 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
1788000
CY2022Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
2321000
CY2023Q2 aiv Due From Third Party Property Manager
DueFromThirdPartyPropertyManager
1143000
CY2022Q4 aiv Due From Third Party Property Manager
DueFromThirdPartyPropertyManager
1669000
CY2023Q2 us-gaap Other Assets
OtherAssets
128640000
CY2022Q4 us-gaap Other Assets
OtherAssets
132679000
CY2023Q2 aiv Construction Loan Contracts Amount
ConstructionLoanContractsAmount
165500000
CY2023Q2 aiv Undrawn Construction Loans
UndrawnConstructionLoans
229000000
us-gaap Participating Securities Distributed And Undistributed Earnings Loss Basic
ParticipatingSecuritiesDistributedAndUndistributedEarningsLossBasic
2500000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-3602000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
239137000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-12419000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
247346000
CY2023Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0
CY2022Q2 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3284000
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
0
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
3410000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-3602000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
235853000
us-gaap Net Income Loss
NetIncomeLoss
-12419000
us-gaap Net Income Loss
NetIncomeLoss
243936000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
144195000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
149600000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145007000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
149694000
CY2023Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
CY2022Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
823000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
966000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
144195000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
150423000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
145007000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
150660000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.58
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.63
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.57
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.09
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.62
CY2023Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
42208000
CY2022Q2 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
46851000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
83213000
us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
92982000
CY2023Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3244000
CY2022Q2 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
3673000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
6406000
us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
7409000
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
45452000
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
50524000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
89619000
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
100391000
CY2023Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P93Y9M18D
CY2022Q4 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P94Y2M12D
CY2023Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.061
CY2022Q4 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.061
CY2023Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
0
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
0
CY2022Q2 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3400000
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
6700000
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3M18D
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.033
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.034
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
400000
us-gaap Operating Lease Cost
OperatingLeaseCost
800000
CY2022Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
200000
us-gaap Operating Lease Cost
OperatingLeaseCost
300000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6900000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6700000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
12700000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
12800000
aiv Sub Lease Commencement Date
SubLeaseCommencementDate
2021-01-01
aiv Sublease Expiration Date
SubleaseExpirationDate
2029-05-31
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
400000
us-gaap Sublease Income
SubleaseIncome
700000
CY2022Q2 us-gaap Sublease Income
SubleaseIncome
400000
us-gaap Sublease Income
SubleaseIncome
700000
CY2023Q2 aiv Sublease Income And Lease Modification Income Reminder Of Fiscal Year
SubleaseIncomeAndLeaseModificationIncomeReminderOfFiscalYear
704000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1271000
CY2023Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1451000
CY2023Q2 aiv Sublease Income And Lease Modification Income Due Year Two
SubleaseIncomeAndLeaseModificationIncomeDueYearTwo
1413000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
2657000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3921000
CY2023Q2 aiv Sublease Income And Lease Modification Income Due Year Three
SubleaseIncomeAndLeaseModificationIncomeDueYearThree
1423000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2355000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
4437000
CY2023Q2 aiv Sublease Income And Lease Modification Income Due Year Four
SubleaseIncomeAndLeaseModificationIncomeDueYearFour
1433000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2341000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
4954000
CY2023Q2 aiv Sublease Income And Lease Modification Income Due Year Five
SubleaseIncomeAndLeaseModificationIncomeDueYearFive
1443000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
2380000
CY2023Q2 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
5483000
CY2023Q2 aiv Sublease Income And Lease Modification Income Due After Year Five
SubleaseIncomeAndLeaseModificationIncomeDueAfterYearFive
2083000
CY2023Q2 aiv Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
3023000
CY2023Q2 aiv Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
1433296000
CY2023Q2 aiv Sublease Income And Lease Modification Income
SubleaseIncomeAndLeaseModificationIncome
8499000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14027000
CY2023Q2 aiv Financing Lease Liability Payments Due
FinancingLeaseLiabilityPaymentsDue
1453542000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1283000
CY2023Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1336949000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
12744000
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
116593000
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2023Q2 us-gaap Revenues
Revenues
45674000
CY2023Q2 aiv Property Operating Expenses
PropertyOperatingExpenses
18783000
CY2023Q2 aiv Other Operating Expenses Not Allocated To Reportable Segment
OtherOperatingExpensesNotAllocatedToReportableSegment
24921000
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
43704000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
1970000
CY2023Q2 aiv Other Items Included In Continuing Operations
OtherItemsIncludedInContinuingOperations
2243000
CY2023Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-273000
CY2022Q2 us-gaap Revenues
Revenues
50697000
CY2022Q2 aiv Property Operating Expenses
PropertyOperatingExpenses
19708000
CY2022Q2 aiv Other Operating Expenses Not Allocated To Reportable Segment
OtherOperatingExpensesNotAllocatedToReportableSegment
43824000
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
63532000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-12835000
CY2022Q2 aiv Other Items Included In Continuing Operations
OtherItemsIncludedInContinuingOperations
-312003000
CY2022Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
299168000
us-gaap Revenues
Revenues
89942000
aiv Property Operating Expenses
PropertyOperatingExpenses
36287000
aiv Other Operating Expenses Not Allocated To Reportable Segment
OtherOperatingExpensesNotAllocatedToReportableSegment
49595000
us-gaap Operating Expenses
OperatingExpenses
85882000
us-gaap Operating Income Loss
OperatingIncomeLoss
4060000
aiv Other Items Included In Continuing Operations
OtherItemsIncludedInContinuingOperations
14282000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-10222000
us-gaap Revenues
Revenues
100691000
aiv Property Operating Expenses
PropertyOperatingExpenses
38929000
aiv Other Operating Expenses Not Allocated To Reportable Segment
OtherOperatingExpensesNotAllocatedToReportableSegment
76414000
us-gaap Operating Expenses
OperatingExpenses
115343000
us-gaap Operating Income Loss
OperatingIncomeLoss
-14652000
aiv Other Items Included In Continuing Operations
OtherItemsIncludedInContinuingOperations
-319876000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
305224000

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