DENVER--(BUSINESS WIRE)--
Apartment Investment and Management Company (“Aimco”) (NYSE:AIV) today
announced its preliminary opinion of the impact of Hurricane Irma.
Executive Vice President and Chief Financial Officer Paul Beldin said:
“Thankfully neither Aimco teammates nor Aimco residents sustained
serious injuries. Aimco’s six Florida properties experienced minimal
damage whose cost to repair is estimated at $1.5-$2.5M. The majority of
the costs relate to the cleanup and repair of landscaping, water
intrusion repair, and roofing repairs. Leasing activities were disrupted
during the storm and the prior evacuations but we expect that disruption
will have only shifted leasing into later periods.”
This press release contains forward-looking statements within the
meaning of the federal securities laws, including, without limitation,
statements regarding damage estimates, projected results, and forecasts
for the remainder of the year. These forward-looking statements are
based on management’s judgment as of this date, which is subject to
risks and uncertainties. Actual results may differ materially from those
described in these forward-looking statements and, in addition, will be
affected by a variety of risks and factors, some of which are beyond
Aimco’s control.
About Aimco
Aimco is a real estate investment trust focused on the ownership and
management of quality apartment communities located in select markets in
the United States. Aimco is one of the country’s largest owners and
operators of apartments, with ownership interests in 187 communities in
22 states and the District of Columbia. Aimco common shares are traded
on the New York Stock Exchange under the ticker symbol AIV, and are
included in the S&P 500. For more information about Aimco, please visit
our website at www.aimco.com.
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Aimco
Lynn Stanfield
Sr. Vice President, Finance
Investor
Relations, 303-793-4661
Investor@aimco.com
Source: Apartment Investment and Management Company