Aimco Announces Estimated Financial Impact of Hurricane Irma
September 15 2017 - 6:00PM
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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version on businesswire.com: http://www.businesswire.com/news/home/20170915005942/en/
AimcoLynn StanfieldSr. Vice President, FinanceInvestor
Relations, 303-793-4661Investor@aimco.com
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