Apartment Investment and Management Company (“Aimco” or the “Company”) (NYSE: AIV) today issued the following statement.
In April, Aimco was owed approximately $69 million of multi-family revenue and recognized 99%, after a 1% provision for Bad Debt. Of the 99%, 96% was received in cash and 3% was accrued based on security deposits available for offset, and the FICO scores of the resident or his guarantor. Through the first six days of May, Aimco has collected 88% of billed residential rent; identical to Aimco’s collection percentage through the first six days of April.
Aimco is a real estate investment trust that is focused on the ownership and management of quality apartment communities located in the largest markets in the United States. Aimco is one of the country's largest owners and operators of apartments, with 124 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.