Aimco Lines Up $228M for Miami Apartment Project

9/18/2024

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Connect CRE

• Subcategory: Capital Markets: Equity, MF: Market Rate

• Tag: Closing | New Construction

• Additional Filters-Subcategory: MF: Highrise

• Company: Aimco (NYSE: AIV), Apollo Global Management Inc. (NYSE: APO)

Apartment Investment and Management Company (“Aimco”) secured $56 million of preferred equity from Sixth Street for the development of a luxury waterfront rental development, located at 560-640 NE 34th Street in Miami, Florida. Apollo provided $172 million of senior construction financing to support the development. Aimco will serve as the developer and asset manager.