DENVER–(BUSINESS WIRE)–Apartment Investment and Management Company (“Aimco”) (NYSE: AIV)
announced today that the wildfires raging throughout Northern and
Southern California have not caused damages material to the financial
condition of the Company.
In Southern California, Aimco’s Malibu Canyon Apartments are located
within the Woolsey Fire boundaries. Government authorities ordered its
evacuation, which was safely completed on Thursday, November 8. The
evacuation order ended Tuesday, November 13 and Aimco is now evaluating
the physical condition of the property and restoring it to normal
operations. Aimco team members have quickly enlisted third-party vendors
to assist with clean-up and restoration as may be necessary.
“During this dangerous time, our highest priority is the safety of our
residents and teammates. We are grateful that all are secure. We offer
sincere thanks to the brave firefighters and other first responders who
put themselves at risk to fight the fires. We pray for their safety and
the safety of all who are in peril,” said Aimco Chairman/CEO Terry
The fires continue and Aimco will provide further updates as appropriate.
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 133 communities in
17 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.
Aimco Investor Relations
Vice President, Investor Relations/FP&A