2020 Q4 Form 10-K Financial Statement

#000156459021012671 Filed on March 12, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 2019 Q4
Revenue $38.65M $151.5M $38.20M
YoY Change 1.17% 5.4% -83.54%
Cost Of Revenue -$163.0M $61.50M $78.80M
YoY Change -306.85% -80.24% 4.51%
Gross Profit -$344.3M $89.90M $151.3M
YoY Change -327.56% -85.09% -3.38%
Gross Profit Margin -890.84% 59.36% 396.06%
Selling, General & Admin -$17.50M $10.50M $12.70M
YoY Change -237.8% -77.66% 39.56%
% of Gross Profit 11.68% 8.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization -$218.4M $78.00M $97.20M
YoY Change -324.69% -79.48% 6.35%
% of Gross Profit 86.76% 64.24%
Operating Expenses -$264.5M $165.8M $114.6M
YoY Change -330.8% 28.9% 26.49%
Operating Profit -$79.80M -$14.36M $36.70M
YoY Change -317.44% -195.34% -44.39%
Interest Expense $109.9M $27.51M -$41.50M
YoY Change -364.82% 47.93% -23.57%
% of Operating Profit -113.08%
Other Income/Expense, Net -$2.400M -$3.603M $200.0K
YoY Change -1300.0% 68.29% -300.0%
Pretax Income -$35.40M -$15.92M $141.6M
YoY Change -125.0% 399.37% 112.93%
Income Tax -$2.300M -$10.15M -$1.200M
% Of Pretax Income -0.85%
Net Earnings -$15.44M -$5.041M -$1.268M
YoY Change 1117.27% -1758.22% -112.89%
Net Earnings / Revenue -39.94% -3.33% -3.32%
Basic Earnings Per Share -$0.03 -$0.01
Diluted Earnings Per Share -$174.8K -$0.03 -$0.01
COMMON SHARES
Basic Shares Outstanding 148.6M 148.9M
Diluted Shares Outstanding 148.6M

Balance Sheet

Concept 2020 Q4 2020 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.0M $290.0M $143.0M
YoY Change 102.8% 102.8% 286.49%
Cash & Equivalents $289.6M $290.0M $5.403M
Short-Term Investments
Other Short-Term Assets $10.00M
YoY Change -23.08%
Inventory $0.00
Prepaid Expenses
Receivables $3.000M
Other Receivables $4.000M
Total Short-Term Assets $294.0M $307.0M $143.0M
YoY Change 105.59% 73.45% 81.01%
LONG-TERM ASSETS
Property, Plant & Equipment $1.104B $1.116B $6.081B
YoY Change -81.85% -81.73% 6.26%
Goodwill $37.80M
YoY Change 0.0%
Intangibles $7.264M
YoY Change
Long-Term Investments $307.4M $333.0M $280.3M
YoY Change 9.68% -13.95%
Other Assets $9.000M $27.00M $35.00M
YoY Change -74.29% -55.0% -2.78%
Total Long-Term Assets $1.546B $1.533B $1.117B
YoY Change 38.44% -76.95% -81.72%
TOTAL ASSETS
Total Short-Term Assets $294.0M $307.0M $143.0M
Total Long-Term Assets $1.546B $1.533B $1.117B
Total Assets $1.840B $1.840B $1.260B
YoY Change 46.06% -73.06% -79.64%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $158.0M $158.0M $361.0M
YoY Change -56.23% -56.23% 59.73%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $164.0M $164.0M $361.0M
YoY Change -54.57% -54.57% 59.73%
LONG-TERM LIABILITIES
Long-Term Debt $982.0M $982.0M $4.506B
YoY Change -78.21% -78.21% 10.55%
Other Long-Term Liabilities $0.00
YoY Change -100.0%
Total Long-Term Liabilities $982.0M $982.0M $4.506B
YoY Change -78.21% -78.21% 9.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $164.0M $164.0M $361.0M
Total Long-Term Liabilities $982.0M $982.0M $4.506B
Total Liabilities $1.277B $1.341B $741.8M
YoY Change 72.16% -73.44% -82.85%
SHAREHOLDERS EQUITY
Retained Earnings -$16.84M
YoY Change
Common Stock $1.490M $0.00
YoY Change -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $499.8M $500.0M $513.3M
YoY Change
Total Liabilities & Shareholders Equity $1.840B $1.840B $1.260B
YoY Change 46.06% -73.06% -79.64%

Cashflow Statement

Concept 2020 Q4 2020 2019 Q4
OPERATING ACTIVITIES
Net Income -$15.44M -$5.041M -$1.268M
YoY Change 1117.27% -1758.22% -112.89%
Depreciation, Depletion And Amortization -$218.4M $78.00M $97.20M
YoY Change -324.69% -79.48% 6.35%
Cash From Operating Activities -$218.1M $47.85M $95.80M
YoY Change -327.66% -17.41% 2.46%
INVESTING ACTIVITIES
Capital Expenditures $252.6M -$131.8M -$110.2M
YoY Change -329.22% -76.01% -7.78%
Acquisitions
YoY Change
Other Investing Activities -$25.90M -$2.472M -$79.30M
YoY Change -67.34% -133.64% -3704.55%
Cash From Investing Activities $226.7M -$129.3M -$189.4M
YoY Change -219.69% -68.68% 61.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 189.2M 370.1M 178.1M
YoY Change 6.23% 2.73% -2354.43%
NET CHANGE
Cash From Operating Activities -218.1M 47.85M 95.80M
Cash From Investing Activities 226.7M -129.3M -189.4M
Cash From Financing Activities 189.2M 370.1M 178.1M
Net Change In Cash 197.8M 288.6M 84.50M
YoY Change 134.08% 5330.2% -366.56%
FREE CASH FLOW
Cash From Operating Activities -$218.1M $47.85M $95.80M
Capital Expenditures $252.6M -$131.8M -$110.2M
Free Cash Flow -$470.7M $179.6M $206.0M
YoY Change -328.5% -70.42% -3.29%

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ProceedsFromMinorityShareholders
20106000
CY2019 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
4911000
CY2020 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-14503000
CY2019 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-1314000
CY2018 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-2267000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
370094000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
360242000
CY2018 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-15923000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
288615000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
5315000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-281000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10120000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4805000
CY2017Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5086000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
298735000
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10120000
CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
4805000
CY2020 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Note 1 — Basis of Presentation and Organization</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Basis of Presentation</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying consolidated financial statements include the accounts of Apartment Investment and Management Company (“Aimco”), AIMCO OP L.P. (“Aimco Operating Partnership”) and their consolidated subsidiaries. The Aimco Operating Partnership’s consolidated financial statements include the accounts of the Aimco Operating Partnership and its consolidated subsidiaries. All significant intercompany balances have been eliminated in consolidation.</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:2.81%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Except as the context otherwise requires, “we,” “us,” and “our,” refer to Aimco, the Aimco Operating Partnership, and their consolidated entities.</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">The Separation</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:3.52%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">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”).</p> <p style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:3.52%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Notwithstanding the legal form of the Separation, for accounting and financial reporting purposes, Aimco is presented as being spun-off from AIR. This presentation is in accordance with generally accepted accounting principles in the U.S. (“GAAP”), and is due primarily to the relative significance of Aimco’s business, as measured in terms of revenues, net income, assets, and other relevant indicators, as compared to those indicators for AIR before the Separation. Therefore, Aimco is the accounting spinnee and AIR is considered the divesting entity and is treated as the accounting spinnor (Aimco and AIR together, as they existed prior to the Separation, “Aimco Predecessor”).</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:3.52%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">P<span style="Background-color:#FFFFFF;">rior to the Separation, the consolidated financial statements were prepared on a carve-out basis and reflect significant assumptions and allocations. The consolidated financial statements reflect our historical consolidated financial position, results of operations, and cash flows in conformity with U.S. GAAP. The historical financial statements of Aimco do not represent the financial position and results of operations of one legal entity, but r</span>ather a combination of entities under common control that have been “carved out” from Aimco Predecessor’s financial statements. All significant intercompany balances have been eliminated in consolidation.<span style="Background-color:#FFFFFF;color:#000000;"> </span></p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:6pt;margin-top:6pt;text-indent:3.52%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><span style="Background-color:#FFFFFF;">All separation related transactions between Aimco and Aimco Predecessor are considered effectively settled through partners’ capital in our consolidated financial statements, other than the Notes Payable to AIR as discussed in Note 8. The settlement of these transactions is reflected as net contributions from and distributions to Aimco Predecessor in our consolidated statements of equity and partners’ capital and net change in Aimco Predecessor invesment in our consolidated statements of cash flows as financing activities.</span> </p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:0%;font-style:italic;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">Organization and Business</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Aimco, a Maryland corporation incorporated on January 10, 1994, is a self-administered and self-managed real estate investment trust (“REIT”). Aimco, through a wholly-owned subsidiary, is the general and special limited partner of the Aimco Operating Partnership. As of December 31, 2020, Aimco owned approximately 93.2% of the legal interest in the common partnership units of the Aimco Operating Partnership and 94.8% of the economic interest in the Aimco Operating Partnership. The remaining 6.8% legal interest is owned by limited partners. As the sole general partner of the Aimco Operating Partnership, Aimco has exclusive control of the Aimco Operating Partnership’s day-to-day management.</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Following the completion of the Separation, we retained the development and redevelopment business of Aimco, 25 consolidated communities including 16 multi-family communities securing $534.1 million of Notes Payable to AIR, and four partially-owned communities that we do not consolidate. In the fourth quarter of 2020 we entered into a joint venture for the development of a property located in the Washington, D.C. area. In addition, we hold other opportunistic investments including 1001 Brickell Bay Drive; our indirect interest in the loan to, and the equity option in, Maximus PM Mezzanine A LLC, the partnership that owns Parkmerced Apartments (the “Mezzanine Investment”); and our IQHQ, Inc. (“IQHQ”) investment. </p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We own and operate a portfolio of apartment communities, diversified by both geography and price point in 12 states and the District of Columbia. As of December 31, 2020, our portfolio included 27 properties with 6,342 apartment homes. Any reference to the number of apartment communities and homes, square footage, or occupancy percentage in these notes to our consolidated financial statements are unaudited.</p> <p style="text-align:justify;margin-bottom:6pt;margin-top:6pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;"> </p>
CY2020 us-gaap Allocations To Policyholders Policies
AllocationsToPolicyholdersPolicies
<p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Allocations</p> <p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The consolidated statements of operations include allocations of general and administrative expenses from Aimco Predecessor, as discussed in Note 5 —Transactions with AIR. We consider the basis on which expenses have been allocated to be a reasonable reflection of the utilization of services provided to or the benefit received by us during the periods presented. However, the allocations may not include all the actual expenses that we would have incurred and may not reflect our consolidated results of operations, financial position, and cash flows had it been a stand-alone company during the periods presented. Actual costs that might have been incurred had we been a stand-alone company would depend on a number of factors, including the chosen organizational structure, what functions we might have performed ourselves or outsourced, and strategic decisions we might have made in areas such as information technology and infrastructure. Following the Separation, AIR, through its subsidiaries, provides Aimco with certain property management and other services, and we perform certain functions using our own resources or purchase services from third parties. </p>
CY2020 aiv Redeemable Noncontrolling Interest Policies
RedeemableNoncontrollingInterestPolicies
<p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:0%;;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Common Noncontrolling Interests in Aimco Operating Partnership</p> <p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:7.03%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Common noncontrolling interests in Aimco Operating Partnership consist of common OP Units and are reflected in Aimco’s accompanying consolidated balance sheets as common noncontrolling interests in Aimco Operating Partnership.  The Aimco Operating Partnership’s income or loss is allocated to the holders of common OP Units, other than Aimco, based on the weighted-average number of common OP Units (including Aimco) outstanding during the period.  During the years ended December 31, 2020, 2019, and 2018, the holders of common OP Units had a weighted-average economic ownership interest in the Aimco Operating Partnership of <span>5.4%</span>.  Please refer to Note 11 for further information regarding the items comprising common noncontrolling interests in the Aimco Operating Partnership.  Substantially all of the assets and liabilities of Aimco are held by the Aimco Operating Partnership.</p> <p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:0%;;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Redeemable Noncontrolling Interest in Consolidated Real Estate Partnerships</p> <p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Redeemable noncontrolling interest consists of equity interests held by a limited partner in a consolidated real estate partnership that has a finite life. We generally attribute to noncontrolling interests their share of income or loss of consolidated partnerships based on their proportionate interest in the results of operations of the partnerships, including their share of losses even if such attribution results in a deficit noncontrolling interest balance within our equity accounts. </p> <p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If a real estate partnership includes redemption rights that are not within our control, the noncontrolling interest is included as temporary equity. If the redemption right is not currently redeemable but probable of being redeemable in the future, changes in redemption value are recognized each quarter with the change in value being reflected in additional paid-in-capital.</p> <p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The assets of our consolidated real estate partnerships must first be used to settle the liabilities of the consolidated real estate partnerships. The consolidated real estate partnership’s creditors do not have recourse to the general credit of the Aimco Operating Partnership.</p> <p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The following table represents a reconciliation of our redeemable noncontrolling interest in consolidated real estate partnerships during the year ended December 31, 2020 (in thousands):</p> <div> <table border="0" cellpadding="0" cellspacing="0" style="margin:auto;border-collapse:collapse; width:100%;"> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:72.2%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Balance at December 31, 2019</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.98%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:22.8%;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,720</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:72.2%; border-bottom:solid 0.75pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:13.7pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Net loss</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.98%; border-bottom:solid 0.75pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:22.8%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(457</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> </tr> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:72.2%; border-bottom:double 2.5pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:6.85pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Balance at December 31, 2020</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.98%; border-bottom:double 2.5pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:22.8%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="bottom"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">4,263</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> </table></div>
CY2019 aiv Noncontrolling Interest Weighted Average Ownership Percentage By Noncontrolling Owners During Period
NoncontrollingInterestWeightedAverageOwnershipPercentageByNoncontrollingOwnersDuringPeriod
0.054
CY2020 aiv Noncontrolling Interest Weighted Average Ownership Percentage By Noncontrolling Owners During Period
NoncontrollingInterestWeightedAverageOwnershipPercentageByNoncontrollingOwnersDuringPeriod
0.054
CY2018 aiv Noncontrolling Interest Weighted Average Ownership Percentage By Noncontrolling Owners During Period
NoncontrollingInterestWeightedAverageOwnershipPercentageByNoncontrollingOwnersDuringPeriod
0.054
CY2020 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1000000.0
CY2019 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
200000
CY2018 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
300000
CY2020 aiv Other Direct And Indirect Costs Capitalized
OtherDirectAndIndirectCostsCapitalized
2700000
CY2019 aiv Other Direct And Indirect Costs Capitalized
OtherDirectAndIndirectCostsCapitalized
4100000
CY2018 aiv Other Direct And Indirect Costs Capitalized
OtherDirectAndIndirectCostsCapitalized
4900000
CY2020 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0
CY2019 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0
CY2018 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0
CY2019 us-gaap Interest Paid Net
InterestPaidNet
17748000
CY2018 us-gaap Interest Paid Net
InterestPaidNet
19296000
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
9216000
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
1773000
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
284000
CY2019 us-gaap Noncash Or Part Noncash Acquisition Debt Assumed1
NoncashOrPartNoncashAcquisitionDebtAssumed1
66779000
CY2020 aiv Noncash Or Part Noncash Acquisition Contributions From Predecessor
NoncashOrPartNoncashAcquisitionContributionsFromPredecessor
955000
CY2020 aiv Noncash Or Part Noncash Acquisition Contributions From Minority Shareholders
NoncashOrPartNoncashAcquisitionContributionsFromMinorityShareholders
11667000
CY2019 aiv Non Cash Deferred Tax Liability Assumed
NonCashDeferredTaxLiabilityAssumed
148809000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1641000
CY2019 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1966000
CY2018 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3964000
CY2018 aiv Non Recourse Property Debt Assumed With Collateral Substitution
NonRecoursePropertyDebtAssumedWithCollateralSubstitution
72296000
CY2020 us-gaap Notes Issued1
NotesIssued1
534127000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
22152000
CY2020 us-gaap Contribution Of Property
ContributionOfProperty
131447000
CY2020Q4 aiv Net Lease Intangible Assets
NetLeaseIntangibleAssets
7264000
CY2019Q4 aiv Net Lease Intangible Assets
NetLeaseIntangibleAssets
13380000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
1467000
CY2019Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
80000
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
2660000
CY2019Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
2313000
CY2020Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
10493000
CY2019Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
2991000
CY2020Q4 us-gaap Investments
Investments
12500000
CY2020Q4 aiv Corporate Fixed Assets
CorporateFixedAssets
12860000
CY2020Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
17557000
CY2019Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
2354000
CY2020Q4 us-gaap Other Assets
OtherAssets
63334000
CY2019Q4 us-gaap Other Assets
OtherAssets
21038000
CY2020 aiv Summary Of Lease Intangible Assets And Liabilities Net Of Accumulated Amortization Table Text Block1
SummaryOfLeaseIntangibleAssetsAndLiabilitiesNetOfAccumulatedAmortizationTableTextBlock1
<p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Intangible lease assets are included in other assets, net and intangible lease liabilities are included in accrued liabilities and other on the consolidated balance sheets. The following table details intangible lease assets and liabilities, net of accumulated amortization, for the years ended December 31, 2020, and 2019 (in thousands).</p> <div> <table border="0" cellpadding="0" cellspacing="0" style="margin:auto;border-collapse:collapse; width:100%;"> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:60.16%; border-bottom:solid 0.75pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%; border-bottom:solid 0.75pt transparent;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td colspan="2" style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:16.82%; border-bottom:solid 0.75pt #000000;" valign="bottom"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2020</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td colspan="2" style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:16.82%; border-bottom:solid 0.75pt #000000;" valign="bottom"> <p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2019</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="bottom"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:60.16%;" valign="top"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In-place leases and leasing costs</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.08%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">17,203</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.08%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">16,355</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:60.16%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Above-market leases</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.08%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">146</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.08%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">145</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:60.16%; border-bottom:solid 0.75pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Less: accumulated amortization</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%; border-bottom:solid 0.75pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(10,085</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%; border-bottom:solid 0.75pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(3,120</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> </tr> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:60.16%; border-bottom:double 2.5pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Intangible lease assets, net</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%; border-bottom:double 2.5pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">7,264</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%; border-bottom:double 2.5pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">13,380</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:60.16%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.08%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-top:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.08%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-top:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:60.16%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Below-market leases</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.08%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,886</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:2.08%;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">4,219</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> <tr> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:60.16%; border-bottom:solid 0.75pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Less: accumulated amortization</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%; border-bottom:solid 0.75pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(2,366</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%; border-bottom:solid 0.75pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(633</p></td> <td style="background-color:#CFF0FC;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-bottom:solid 0.75pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">)</p></td> </tr> <tr> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:60.16%; border-bottom:double 2.5pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Intangible lease liabilities, net</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%; border-bottom:double 2.5pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">2,520</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;width:2.08%; border-bottom:double 2.5pt transparent;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">$</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:15.82%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="text-align:right;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">3,586</p></td> <td style="background-color:#FFFFFF;padding-left:0pt;padding-Right:0.75pt;padding-Top:0.75pt;padding-Bottom:0pt;width:1%; border-top:solid 0.75pt #000000; border-bottom:double 2.5pt #000000;white-space:nowrap;" valign="middle"> <p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:1pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"> </p></td> </tr> </table></div>
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10085000
CY2019Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3120000
CY2020Q4 aiv Net Lease Intangible Assets
NetLeaseIntangibleAssets
7264000
CY2019Q4 aiv Net Lease Intangible Assets
NetLeaseIntangibleAssets
13380000
CY2020Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
4886000
CY2019Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
4219000
CY2020Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
2366000
CY2019Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
633000
CY2020Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2520000
CY2019Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
3586000
CY2020Q4 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
1201000
CY2020Q4 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
676000
CY2020Q4 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
321000
CY2020Q4 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
176000
CY2020Q4 us-gaap Below Market Lease Amortization Income Year Five
BelowMarketLeaseAmortizationIncomeYearFive
146000
CY2020Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2520000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
3000000
CY2020 aiv Sublease Lease Liability Income Due Year Five
SubleaseLeaseLiabilityIncomeDueYearFive
1423000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1930000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Five
FinanceLeaseLiabilityPaymentsDueYearFive
3500000
CY2020 aiv Sublease Lease Liability Income Due After Year Five
SubleaseLeaseLiabilityIncomeDueAfterYearFive
4959000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
6814000
CY2020Q4 us-gaap Finance Lease Liability Payments Due After Year Five
FinanceLeaseLiabilityPaymentsDueAfterYearFive
1151782000
CY2020 aiv Sublease Lease Liability Income Due
SubleaseLeaseLiabilityIncomeDue
11971000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15828000
CY2020Q4 aiv Financing Lease Liability Payments Due
FinancingLeaseLiabilityPaymentsDue
1163082000
CY2020 us-gaap Revenue Recognition Leases Operating
RevenueRecognitionLeasesOperating
<p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:0%;;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Revenue from Leases</p> <p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">We are a lessor for residential and commercial leases. Our operating leases with residents may provide that the resident reimburse us for certain costs, primarily the resident’s share of utilities expenses, incurred by the apartment community. Our operating leases with commercial tenants may provide that the tenant reimburse us for common area maintenance, real estate taxes, and other recoverable costs incurred by the commercial property. </p> <p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Beginning in 2019, with the adoption of ASC 842, we concluded that residential and commercial reimbursements represent revenue attributable to non-lease components for which the timing and pattern of recognition is the same as the revenue for the lease components. We adopted the practical expedient that allows us to account for the lease and non-lease components as a single component. Reimbursements and the related expenses are presented on a gross basis in our consolidated statements of operations, with the reimbursements included in rental and other property revenues in our consolidated statements of operations in the period the recoverable costs are incurred. We recognize rental revenue attributed to lease components, net of any concessions, on a straight-line basis over the term of the lease.</p>
CY2020Q4 aiv Percentage Of Income Tax On Income From Non Arms Length Transactions
PercentageOfIncomeTaxOnIncomeFromNonArmsLengthTransactions
1
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:0%;;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="text-align:justify;margin-bottom:9pt;margin-top:9pt;text-indent:2.81%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of our consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts included in the consolidated financial statements and accompanying notes thereto. Actual results could differ from those estimates.</p>
CY2020Q4 aiv Promissory Notes Issued
PromissoryNotesIssued
85000000.0
CY2020Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.81
CY2020 us-gaap Payments To Acquire Interest In Joint Venture
PaymentsToAcquireInterestInJointVenture
5200000
CY2020 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
140140000
CY2019 us-gaap Operating Lease Lease Income Lease Payments
OperatingLeaseLeaseIncomeLeasePayments
133180000
CY2020 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
11192000
CY2019 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
9929000
CY2020 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
151332000
CY2019 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
143109000
CY2020 aiv Sublease Lease Liability Income Due Next Twelve Months
SubleaseLeaseLiabilityIncomeDueNextTwelveMonths
1380000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1472000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
1200000
CY2020 aiv Sublease Lease Liability Income Due Year Two
SubleaseLeaseLiabilityIncomeDueYearTwo
1393000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1841000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
1600000
CY2020 aiv Sublease Lease Liability Income Due Year Three
SubleaseLeaseLiabilityIncomeDueYearThree
1403000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1871000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
2000000
CY2020 aiv Sublease Lease Liability Income Due Year Four
SubleaseLeaseLiabilityIncomeDueYearFour
1413000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1900000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2113000
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
1076301000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
13715000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
86781000
CY2020 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
9800000
CY2019 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
9500000
CY2018 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
7600000
CY2020Q4 aiv Guarantee Liability Amount
GuaranteeLiabilityAmount
16400000
CY2020 aiv Estimated Market Discount Rate
EstimatedMarketDiscountRate
0.0425
CY2020Q4 aiv Debt Instrument Deemed Rate
DebtInstrumentDeemedRate
0.0025
CY2020Q4 us-gaap Loans Payable
LoansPayable
215400
CY2020Q4 aiv Secured Debt Gross
SecuredDebtGross
449510000
CY2019Q4 aiv Secured Debt Gross
SecuredDebtGross
493886000
CY2020Q4 aiv Assumed Debt Fair Value Adjustment
AssumedDebtFairValueAdjustment
1850000
CY2019Q4 aiv Assumed Debt Fair Value Adjustment
AssumedDebtFairValueAdjustment
2153000
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3393000
CY2019Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
3401000
CY2020Q4 us-gaap Secured Debt
SecuredDebt
447967000
CY2019Q4 us-gaap Secured Debt
SecuredDebt
492638000
CY2020Q4 aiv Long Term Debt Amortization Of Principal In Next Twelve Months
LongTermDebtAmortizationOfPrincipalInNextTwelveMonths
8648000
CY2020Q4 aiv Long Term Debt Amortization And Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtAmortizationAndMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
8648000
CY2020Q4 aiv Long Term Debt Amortization Of Principal In Year Two
LongTermDebtAmortizationOfPrincipalInYearTwo
9087000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
15773000
CY2020Q4 aiv Long Term Debt Amortization And Maturities Repayments Of Principal In Year Two
LongTermDebtAmortizationAndMaturitiesRepaymentsOfPrincipalInYearTwo
24860000
CY2020Q4 aiv Long Term Debt Amortization Of Principal In Next Year Three
LongTermDebtAmortizationOfPrincipalInNextYearThree
9144000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
55000000
CY2020Q4 aiv Long Term Debt Amortization And Maturities Repayments Of Principal In Year Three
LongTermDebtAmortizationAndMaturitiesRepaymentsOfPrincipalInYearThree
64144000
CY2020Q4 aiv Long Term Debt Amortization Of Principal In Year Four
LongTermDebtAmortizationOfPrincipalInYearFour
7099000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
81940000
CY2020Q4 aiv Long Term Debt Amortization And Maturities Repayments Of Principal In Year Four
LongTermDebtAmortizationAndMaturitiesRepaymentsOfPrincipalInYearFour
89039000
CY2020Q4 aiv Long Term Debt Amortization Of Principal In Year Five
LongTermDebtAmortizationOfPrincipalInYearFive
7361000
CY2020Q4 aiv Long Term Debt Amortization And Maturities Repayments Of Principal In Year Five
LongTermDebtAmortizationAndMaturitiesRepaymentsOfPrincipalInYearFive
7361000
CY2020Q4 aiv Long Term Debt Amortization Of Principal After Year Five
LongTermDebtAmortizationOfPrincipalAfterYearFive
17363000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
238095000
CY2020Q4 aiv Long Term Debt Amortization And Maturities Repayments Of Principal After Year Five
LongTermDebtAmortizationAndMaturitiesRepaymentsOfPrincipalAfterYearFive
255458000
CY2020Q4 aiv Long Term Debt Amortization Of Principal Amount
LongTermDebtAmortizationOfPrincipalAmount
58702000
CY2020Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
390808000
CY2020Q4 aiv Long Term Debt Amortization And Maturities Repayments Of Principal Amount
LongTermDebtAmortizationAndMaturitiesRepaymentsOfPrincipalAmount
449510000
CY2020Q4 aiv Deferred Tax Liabilities Partnership Differences
DeferredTaxLiabilitiesPartnershipDifferences
132599000
CY2019Q4 aiv Deferred Tax Liabilities Partnership Differences
DeferredTaxLiabilitiesPartnershipDifferences
148842000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
999000
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
615000
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
40000
CY2020Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
131560000
CY2019Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
148227000
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
857000
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1313000
CY2018 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
660000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
536000
CY2018 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
284000
CY2020 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
1517000
CY2019 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
1849000
CY2018 us-gaap Current Federal State And Local Tax Expense Benefit
CurrentFederalStateAndLocalTaxExpenseBenefit
284000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-10470000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-4658000
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
16000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-1196000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-492000
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-39000
CY2020 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-11666000
CY2019 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-5150000
CY2018 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
-23000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-10149000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-3301000
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
261000
CY2020 aiv Consolidated Income Loss Subject To Tax
ConsolidatedIncomeLossSubjectToTax
-25500000
CY2019 aiv Consolidated Income Loss Subject To Tax
ConsolidatedIncomeLossSubjectToTax
-7500000
CY2018 aiv Consolidated Income Loss Subject To Tax
ConsolidatedIncomeLossSubjectToTax
-100000
CY2020 aiv Income Tax Reconciliation Income Tax Expense Benefit Continuingand Discontinued Operations At Federal Statutory Income Tax Rate Amount
IncomeTaxReconciliationIncomeTaxExpenseBenefitContinuingandDiscontinuedOperationsAtFederalStatutoryIncomeTaxRateAmount
-5361000
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 aiv Income Tax Reconciliation Income Tax Expense Benefit Continuingand Discontinued Operations At Federal Statutory Income Tax Rate Amount
IncomeTaxReconciliationIncomeTaxExpenseBenefitContinuingandDiscontinuedOperationsAtFederalStatutoryIncomeTaxRateAmount
-1582000
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2018 aiv Income Tax Reconciliation Income Tax Expense Benefit Continuingand Discontinued Operations At Federal Statutory Income Tax Rate Amount
IncomeTaxReconciliationIncomeTaxExpenseBenefitContinuingandDiscontinuedOperationsAtFederalStatutoryIncomeTaxRateAmount
16000
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-4195000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.164
CY2019 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
-1779000
CY2019 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0.236
CY2018 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
IncomeTaxReconciliationForeignIncomeTaxRateDifferential
0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
0
CY2020 aiv Income Tax Reconciliation State And Local Income Taxes Continuing And Discontinued Operations
IncomeTaxReconciliationStateAndLocalIncomeTaxesContinuingAndDiscontinuedOperations
-536000
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.021
CY2019 aiv Income Tax Reconciliation State And Local Income Taxes Continuing And Discontinued Operations
IncomeTaxReconciliationStateAndLocalIncomeTaxesContinuingAndDiscontinuedOperations
34000
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.005
CY2018 aiv Income Tax Reconciliation State And Local Income Taxes Continuing And Discontinued Operations
IncomeTaxReconciliationStateAndLocalIncomeTaxesContinuingAndDiscontinuedOperations
245000
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
3.266
CY2020 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
1000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0.000
CY2018 us-gaap Income Tax Reconciliation Nondeductible Expense
IncomeTaxReconciliationNondeductibleExpense
0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense
EffectiveIncomeTaxRateReconciliationNondeductibleExpense
0
CY2020 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
-58000
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
7076000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1070000
CY2020 us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
138000
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
1208000
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1500000
CY2020 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Period Increase Decrease
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPeriodIncreaseDecrease
86630
CY2019 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
26000
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.003
CY2018 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0
CY2020 aiv Income Tax Expense Benefits
IncomeTaxExpenseBenefits
-10149000
CY2020 aiv Effective Income Tax Rate Continuing And Discontinued Operations
EffectiveIncomeTaxRateContinuingAndDiscontinuedOperations
0.397
CY2019 aiv Income Tax Expense Benefits
IncomeTaxExpenseBenefits
-3301000
CY2019 aiv Effective Income Tax Rate Continuing And Discontinued Operations
EffectiveIncomeTaxRateContinuingAndDiscontinuedOperations
0.438
CY2018 aiv Income Tax Expense Benefits
IncomeTaxExpenseBenefits
261000
CY2018 aiv Effective Income Tax Rate Continuing And Discontinued Operations
EffectiveIncomeTaxRateContinuingAndDiscontinuedOperations
3.476
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
9200000
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
1800000
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
300000
CY2020 aiv Ordinary Income Dividends Per Share Declared
OrdinaryIncomeDividendsPerShareDeclared
3.17
CY2020 aiv Ordinary Income Dividends Declared Percentage
OrdinaryIncomeDividendsDeclaredPercentage
0.067
CY2019 aiv Ordinary Income Dividends Per Share Declared
OrdinaryIncomeDividendsPerShareDeclared
0.66
CY2019 aiv Ordinary Income Dividends Declared Percentage
OrdinaryIncomeDividendsDeclaredPercentage
0.206
CY2018 aiv Ordinary Income Dividends Per Share Declared
OrdinaryIncomeDividendsPerShareDeclared
0.51
CY2018 aiv Ordinary Income Dividends Declared Percentage
OrdinaryIncomeDividendsDeclaredPercentage
0.335
CY2020 aiv Capital Gains Dividends Per Share Declared
CapitalGainsDividendsPerShareDeclared
19.43
CY2020 aiv Capital Gains Dividends Declared Percentage
CapitalGainsDividendsDeclaredPercentage
0.409
CY2019 aiv Capital Gains Dividends Per Share Declared
CapitalGainsDividendsPerShareDeclared
1.29
CY2019 aiv Capital Gains Dividends Declared Percentage
CapitalGainsDividendsDeclaredPercentage
0.404
CY2018 aiv Capital Gains Dividends Per Share Declared
CapitalGainsDividendsPerShareDeclared
0.93
CY2018 aiv Capital Gains Dividends Declared Percentage
CapitalGainsDividendsDeclaredPercentage
0.612
CY2020 aiv Qualified Dividends Per Share Declared
QualifiedDividendsPerShareDeclared
0.62
CY2020 aiv Qualified Dividends Declared Percentage
QualifiedDividendsDeclaredPercentage
0.013
CY2019 aiv Qualified Dividends Per Share Declared
QualifiedDividendsPerShareDeclared
0.66
CY2019 aiv Qualified Dividends Declared Percentage
QualifiedDividendsDeclaredPercentage
0.207
CY2018 aiv Qualified Dividends Declared Percentage
QualifiedDividendsDeclaredPercentage
0
CY2020 aiv Unrecaptured Gain Dividends Per Share Declared
UnrecapturedGainDividendsPerShareDeclared
8.80
CY2020 aiv Unrecaptured Gain Dividends Declared Percentage
UnrecapturedGainDividendsDeclaredPercentage
0.185
CY2019 aiv Unrecaptured Gain Dividends Per Share Declared
UnrecapturedGainDividendsPerShareDeclared
0.58
CY2019 aiv Unrecaptured Gain Dividends Declared Percentage
UnrecapturedGainDividendsDeclaredPercentage
0.183
CY2018 aiv Unrecaptured Gain Dividends Per Share Declared
UnrecapturedGainDividendsPerShareDeclared
0.08
CY2018 aiv Unrecaptured Gain Dividends Declared Percentage
UnrecapturedGainDividendsDeclaredPercentage
0.054
CY2020 aiv Return Of Capital Per Share Declared
ReturnOfCapitalPerShareDeclared
15.48
CY2020 aiv Return Of Capital Declared Percentage
ReturnOfCapitalDeclaredPercentage
0.326
CY2020 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
47.50
CY2020 aiv Common Stock Dividends Declared Percentage
CommonStockDividendsDeclaredPercentage
1
CY2019 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
3.19
CY2019 aiv Common Stock Dividends Declared Percentage
CommonStockDividendsDeclaredPercentage
1
CY2018 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.52
CY2018 aiv Common Stock Dividends Declared Percentage
CommonStockDividendsDeclaredPercentage
1
CY2020 aiv Unrecognized Tax Benefits Liability Assumed At Separation
UnrecognizedTaxBenefitsLiabilityAssumedAtSeparation
6889000
CY2020 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
187000
CY2020Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Share Based Awards Other Than Options
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions
1490000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
304000
CY2019 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
148569000
CY2018 us-gaap Net Income Loss
NetIncomeLoss
3243000
CY2018 aiv Gross Weighted Average Number Of Shares Outstanding Basic
GrossWeightedAverageNumberOfSharesOutstandingBasic
148549000
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2018 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
20000
CY2018 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3243000
CY2018 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
148569000
CY2020 aiv Limited Liability Company Or Limited Partnership Equity Activities And Description
LimitedLiabilityCompanyOrLimitedPartnershipEquityActivitiesAndDescription
On December 15, 2020, we completed the previously announced separation of our business into two, separate and distinct, publicly traded companies, Aimco and AIR. The Separation was effected by way of a pro rata distribution, in which stockholders of Aimco received one share of Class A common stock of AIR for every one share of Class A common stock of Aimco held as of the close of business on December 5, 2020. AIR Operating Partnership also completed a pro rata distribution of all of the outstanding common limited partnership units of Aimco Operating Partnership to holders of AIR Operating Partnership common limited partnership units and AIR Operating Partnership Class I High Performance partnership units as of the close of business on December 5, 2020.
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
510587500
CY2020 us-gaap Net Income Loss
NetIncomeLoss
-5041000
CY2020 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
148569000
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.03
CY2019 us-gaap Net Income Loss
NetIncomeLoss
304000
CY2019 aiv Gross Weighted Average Number Of Shares Outstanding Basic
GrossWeightedAverageNumberOfSharesOutstandingBasic
148549000
CY2019 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
20000
CY2018 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
CY2020 us-gaap Derivative Description Of Terms
DerivativeDescriptionOfTerms
We receive a cash settlement in the future if the prevailing interest rate is higher than the 1.68% strike price. The amount of future cash settlement is capped if the prevailing interest rate exceeds 2.78%. Alternatively, if interest rates were to decrease below the specified strike price, we would not receive a cash settlement.
CY2020 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2020 us-gaap Revenues
Revenues
151451000
CY2020 aiv Property Operating Expenses
PropertyOperatingExpenses
61514000
CY2020 aiv Other Operating Expenses Not Allocated To Reportable Segment
OtherOperatingExpensesNotAllocatedToReportableSegment
104294000
CY2020 us-gaap Operating Expenses
OperatingExpenses
165808000
CY2020 aiv Operating Income Loss Property
OperatingIncomeLossProperty
-14357000
CY2020 aiv Other Items Included In Continuing Operations
OtherItemsIncludedInContinuingOperations
-1563000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-15920000
CY2019 us-gaap Revenues
Revenues
143692000
CY2019 aiv Property Operating Expenses
PropertyOperatingExpenses
57541000
CY2019 aiv Other Operating Expenses Not Allocated To Reportable Segment
OtherOperatingExpensesNotAllocatedToReportableSegment
71092000
CY2019 us-gaap Operating Expenses
OperatingExpenses
128633000
CY2019 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-3188000
CY2018 us-gaap Revenues
Revenues
132163000
CY2018 aiv Property Operating Expenses
PropertyOperatingExpenses
53552000
CY2018 aiv Other Operating Expenses Not Allocated To Reportable Segment
OtherOperatingExpensesNotAllocatedToReportableSegment
55141000
CY2018 us-gaap Operating Expenses
OperatingExpenses
108693000
CY2018 aiv Operating Income Loss Property
OperatingIncomeLossProperty
23470000
CY2018 aiv Other Items Included In Continuing Operations
OtherItemsIncludedInContinuingOperations
-19798000
CY2018 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3672000
CY2020 us-gaap Lessee Finance Lease Description
LesseeFinanceLeaseDescription
According to the terms of the lease agreements, we have the option to complete the on-going development and redevelopment of such properties and their lease-ups. If we elect such options, following the successful completion of the contemplated development and redevelopments, AIR has the option (and not an obligation) to pay us an amount equal to the difference between the then-current fair market value of the properties and the initial fair market value of the properties at the time of lease inception, at a five percent discount thereto.
CY2020 aiv Fair Value Discount Rate
FairValueDiscountRate
0.05
CY2020Q4 us-gaap Lessee Finance Lease Term Of Contract1
LesseeFinanceLeaseTermOfContract1
P25Y
CY2020Q4 us-gaap Asset Impairment Charges
AssetImpairmentCharges
15900000
CY2020Q1 us-gaap Revenues
Revenues
38309000
CY2020Q2 us-gaap Revenues
Revenues
37165000
CY2020Q3 us-gaap Revenues
Revenues
37328000
CY2020Q4 us-gaap Revenues
Revenues
38649000
CY2020Q1 us-gaap Profit Loss
ProfitLoss
3785000
CY2020Q2 us-gaap Profit Loss
ProfitLoss
3883000
CY2020Q3 us-gaap Profit Loss
ProfitLoss
1996000
CY2020Q4 us-gaap Profit Loss
ProfitLoss
-15435000
CY2020Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3897000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3994000
CY2020Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2118000
CY2020Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-15050000
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.03
CY2020Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.03
CY2020Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
0.01
CY2020Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.10
CY2019Q1 us-gaap Revenues
Revenues
35789000
CY2019Q1 us-gaap Profit Loss
ProfitLoss
1310000
CY2019Q2 us-gaap Profit Loss
ProfitLoss
1178000
CY2019Q3 us-gaap Profit Loss
ProfitLoss
-1107000
CY2019Q4 us-gaap Profit Loss
ProfitLoss
-1268000
CY2019Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1322000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
1178000
CY2019Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-958000
CY2019Q4 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1238000
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.01
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.01
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
CY2020Q4 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
6067
CY2020Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Land
RealEstateAndAccumulatedDepreciationInitialCostOfLand
298458000
CY2020Q4 us-gaap Real Estate And Accumulated Depreciation Initial Cost Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationInitialCostOfBuildingsAndImprovements
405409000
CY2020Q4 us-gaap Real Estate And Accumulated Depreciation Costs Capitalized Subsequent To Acquisition Improvements
RealEstateAndAccumulatedDepreciationCostsCapitalizedSubsequentToAcquisitionImprovements
367379000
CY2020Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Land
RealEstateAndAccumulatedDepreciationCarryingAmountOfLand
298458000
CY2020Q4 us-gaap Real Estate And Accumulated Depreciation Carrying Amount Of Buildings And Improvements
RealEstateAndAccumulatedDepreciationCarryingAmountOfBuildingsAndImprovements
772788000
CY2020Q4 us-gaap Real Estate Gross At Carrying Value
RealEstateGrossAtCarryingValue
1071246000
CY2020Q4 us-gaap Real Estate Accumulated Depreciation
RealEstateAccumulatedDepreciation
469876000
CY2020Q4 aiv Real Estate And Accumulated Depreciation Net Value Of Land And Buildings And Improvements
RealEstateAndAccumulatedDepreciationNetValueOfLandAndBuildingsAndImprovements
601370000
CY2020Q4 srt Real Estate And Accumulated Depreciation Amount Of Encumbrances
RealEstateAndAccumulatedDepreciationAmountOfEncumbrances
449510000
CY2020Q4 srt Real Estate Federal Income Tax Basis
RealEstateFederalIncomeTaxBasis
1200000
CY2019Q4 us-gaap Revenues
Revenues
38201000
CY2020 dei Entity Small Business
EntitySmallBusiness
false
CY2020 aiv Unrecaptured Gain Dividends Declared Percentage
UnrecapturedGainDividendsDeclaredPercentage
0.185
CY2019Q3 us-gaap Revenues
Revenues
37813000
CY2020 dei Document Annual Report
DocumentAnnualReport
true
CY2020 dei Entity Address Address Line2
EntityAddressAddressLine2
Suite 1450
CY2020 dei Entity Address City Or Town
EntityAddressCityOrTown
Denver
CY2020 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2020 dei Document Transition Report
DocumentTransitionReport
false
CY2020 dei Entity File Number
EntityFileNumber
1-13232
CY2020 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
MD
CY2020 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
84-1259577
CY2020 dei Entity Address Address Line1
EntityAddressAddressLine1
4582 South Ulster Street
CY2020 dei Security Exchange Name
SecurityExchangeName
NYSE
CY2020 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2020 dei Entity Address State Or Province
EntityAddressStateOrProvince
CO
CY2020 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
80237
CY2020 dei City Area Code
CityAreaCode
303
CY2020 dei Local Phone Number
LocalPhoneNumber
224-7900
CY2020 dei Security12b Title
Security12bTitle
Class A Common Stock (Apartment Investment and Management Company)
CY2020 dei Trading Symbol
TradingSymbol
AIV
CY2019 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Nonredeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsNonredeemable
15000
CY2020 dei Entity Voluntary Filers
EntityVoluntaryFilers
No

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