Business
Aimco Closes Sale of Brickell Assemblage and Enters Agreement to Sell Two Additional Properties
Apartment Investment and Management Company ("Aimco") sold its Brickell Assemblage, which includes The Yacht Club Apartments and the adjacent 1001 Brickell Bay Drive office building located in Miami, Florida, for $520 million on Monday, December 22, 2025. The sale included $85 million of transferable seller financing notes provided from Aimco to the buyer at closing. Each note has a two-year term and two one-year extension options with an average interest rate over the full duration of 18%. Init
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[{"type":"text","content":"DENVER, Dec. 23, 2025 /PRNewswire/ -- Apartment Investment and Management Company ("Aimco") sold its Brickell Assemblage, which includes The Yacht Club Apartments and the adjacent 1001 Brickell Bay Drive office building located in Miami, Florida, for $520 million on Monday, December 22, 2025. The sale included $85 million of transferable seller financing notes provided from Aimco to the buyer at closing. Each note has a two-year term and two one-year extension options with an average interest rate over the full duration of 18%. Initial net proceeds, when accounting for associated property-level debt, the deferred tax liability, transaction costs, and excluding the seller financing notes, were approximately $220 million. As previously announced, Aimco plans to monetize the seller financing notes.","length":821,"tagName":"p"},{"type":"image","alt":"Aimco (PRNewsfoto/Apartment Investment and Management Company (Aimco))","displaySize":"","headline":null,"caption":"Aimco (PRNewsfoto/Apartment Investment and Management Company (Aimco))","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":162,"url":"https://media.zenfs.com/en/prnewswire.com/c1d23885b5b34e774fe7c3ca535f5fbb"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/LZsN6.NmjRg3_2NKY8aSCw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI4NjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/c1d23885b5b34e774fe7c3ca535f5fbb","width":400,"height":162}},"href":"https://mma.prnewswire.com/media/2401790/Aimco_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"In addition, Aimco has also entered into a definitive agreement to sell two properties to an affiliate of Harbor Group International, LLC. The properties under contract include a total of 660 apartment homes and are located in Plantation, Florida and Nashville, Tennessee. The buyer has completed due diligence and made a non-refundable deposit of $5 million. Closing is scheduled for the first quarter of 2026, pending assumption of the in-place mortgage loans, the approval of which is currently being pursued.","length":512,"tagName":"p"},{"type":"text","content":"In 2025, Aimco sold $1.26 billion of real estate in suburban Boston and Miami and, including the previously announced Chicago and Atlanta property sale agreements, Aimco is currently under contract to sell an ...
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