Alua Askarbek's questions to APARTMENT INVESTMENT & MANAGEMENT (AIV) leadership • Q3 2020
Question
Alua Askarbek of Bank of America asked about the performance and occupancy of Aimco's New York City properties, noting they had been reclassified into an 'other markets' category.
Answer
CFO Paul Beldin explained the reclassification was due to the pending sale of the River Club property, which made the remaining NYC portfolio too small to report separately. EVP of Property Operations Keith Kimmel added that the remaining assets total less than 500 units and have been impacted by local market conditions.