Aimco Agrees To Sell, For $204M, Its Interests In Two Real Estate Investments In The Edgewater Neighborhood Of Miami, Florida
Benzinga Newsdesk 2 years ago
NewsAsset Sales
The two investments include the recently completed redevelopment of a 276-unit waterfront apartment building, known as The Hamilton, and Aimco's partnership interest in a 2.8-acre development site at 3333
The two investments include the recently completed redevelopment of a 276-unit waterfront apartment building, known as The Hamilton, and Aimco's partnership interest in a 2.8-acre development site at 3333 Biscayne Boulevard.
The all-cash transactions are expected to close by year-end 2024. Upon closing, Aimco plans to retire approximately $110 million of associated liabilities, currently carrying an average rate of 8.6%, and expects to return approximately $90 million of capital to stockholders during the first quarter of 2025.