Apartment Investment & Management A

Aimco agreed with CEO Wesley Powell on an accelerated bonus payout of $1,470,000 and a retention award of $5,250,000, payable by Dec. 31, 2025. Both payments are subject to repayment conditions, for example if he is terminated before the payout dates or before a change in control; if necessary, Aimco can rescind vested common shares. The adjustment is related to a board-approved sale and liquidation plan. Aimco also reported recent sale closings in Miami ($520m) and a Chicago portfolio ($455m) and shows mixed financial metrics (Altman Z-Score 0.23; current ratio 1.14). » More on de.investing.com

Aimco has sold its “Brickell Assemblage” in Miami, including Yacht Club Apartments and the office building 1001 Brickell Bay Drive, for $520 million. The buyer received transferable seller loans of $85 million carrying an average interest rate of 18%; initial net proceeds were about $220 million after deducting property-specific debt, deferred taxes and transaction costs. The company is continuing its asset-disposition strategy, plans a sale-and-liquidation plan to distribute the net proceeds to shareholders, and has agreed further sales in Chicago, Plantation and Nashville. Aimco reports total debt of $960.7 million, underscoring the significance of the disposals for its balance sheet. » More on de.investing.com

Alberta Investment Management Corporation (AIMCo) has appointed Justin Lord as its new chief investment officer following an international search. Lord, who has been with AIMCo since 2012, brings 20 years of industry experience to the role. He will lead the investment teams and remain based in Alberta. » More on de.investing.com