Aimco sells Chicago portfolio for $455M

Group 1 - Aimco plans to sell its Brickell Assemblage in Miami for $520 million, targeting a closing date of December 2025 [3] - Aimco owns 15 fully stabilized multifamily communities with a total of 2,524 units and three recently completed Class A development projects with 933 apartment homes expected to stabilize by early 2026 [4] - Aimco is liquidating its holdings, having gone under contract to sell a seven-property portfolio in Chicago for $455 million, with a closing scheduled for the first quarter of 2026 [8] Group 2 - The Chicago portfolio acquisition involves LaTerra Capital Management and Respark Residential, combining their expertise in development, acquisition, and asset management [5] - The properties in the Chicago portfolio are located in key suburban submarkets and include a mix of high-rise, mid-rise, garden-style, and townhome communities [6] - The acquisition was financed with assumable below-market Fannie Mae debt, allowing for positive leverage, and plans include targeted unit renovations and active asset management initiatives [7]