v3.26.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Reconciliation of Redeemable Noncontrolling Interests in Real Estate Partnerships

The following table shows changes in our redeemable noncontrolling interests in consolidated real estate partnerships for the month ended January 31, 2026, and the three months ended March 31, 2025, (in thousands):

 

 

Month Ended
January 31, 2026

 

 

Three Months Ended
March 31, 2025

 

Balance at Beginning of Period

 

$

158,292

 

 

$

142,931

 

Contributions

 

 

1,700

 

 

 

2,877

 

Distributions

 

 

(749

)

 

 

(2,010

)

Redemptions(1)

 

 

(52,182

)

 

 

—

 

Net income

 

 

2,243

 

 

 

2,673

 

Other

 

 

—

 

 

 

(80

)

Balance at End of Period

 

$

109,304

 

 

$

146,391

 

(1) In January 2026, we redeemed 50% of the preferred equity interest that receives 8.0% preferred return per annum in an entity that owns a portfolio of operating apartment communities for a cash purchase price of $52.2 million.
Schedule of Reconciliation of Cash Flow Information The reconciliation of cash flow information for the month ended January 31, 2026, and three months ended March 31, 2025, is as follows (in thousands):

 

January 31, 2026

 

 

December 31, 2025

 

Cash and cash equivalents

$

320,360

 

 

$

394,891

 

Restricted cash

 

9,611

 

 

 

10,131

 

Restricted cash from discontinued operations and held for sale

 

2,571

 

 

 

2,174

 

Cash, cash equivalents, and restricted cash

$

332,542

 

 

$

407,196

 
Summary of Other Assets, Net

Other assets, net were comprised of the following amounts as of December 31, 2025 (in thousands):

 

December 31, 2025

 

Other investments

$

9,444

 

Deferred costs, deposits, and other

 

9,322

 

Prepaid expenses and real estate taxes

 

15,707

 

Interest rate contracts (1)

 

55

 

Unconsolidated real estate partnerships

 

15,270

 

Intangible assets, net

 

12,262

 

Corporate fixed assets, net of accumulated depreciation of $10,103 as of December 31, 2025

 

5,880

 

Accounts receivable, net of allowances of $927 as of December 31, 2025

 

13,780

 

 Total other assets, net

$

81,720

 

(1) Under the going concern basis, we account for our Interest rate contracts as non-designated hedges.
Summary of Notes Receivable

The following table summarizes our Notes receivable as of January 31, 2026 and December 31, 2025 (in thousands):

 

January 31, 2026

 

 

December 31, 2025

 

Notes receivable - held for sale:

 

 

 

 

 

Note A (1)

$

86,512

 

 

$

85,363

 

Notes receivable - held for investment:

 

 

 

 

 

Note B (2)

 

—

 

 

 

18,500

 

 Total notes receivable

$

86,512

 

 

$

103,863

 

 

(1) In December 2025, Aimco issued $85.0 million of seller financing notes in conjunction with the sale of the Brickell Assemblage. The seller financing notes have initial terms of 24 months with compounding interest rates that increase from 12%

to 16% after twelve months, as well as exit fees of 3%. The seller financing notes also allow for two successive one-year renewal options at the buyer's election, upon which the interest rates will increase to 20% and 24%, respectively.

(2) During the month ended January 31, 2026, we finalized an agreement to monetize a subordinated seller financing note associated with property in La Jolla, California, that had an effective interest rate of 6.0% and a current annual interest rate of 2.9%. The agreement was structured as a modification and repayment of the note in January 2026, when we collected the $18.5 million balance included within Notes receivable within the Condensed Consolidated Balance Sheet as of December 31, 2025. During the three months ended March 31, 2025, we recognized amortization of discount on the seller financing note of $0.3 million, which was recorded as a component of Interest Income in our Condensed Consolidated Statements of Operations. We did not recognize any amortization of the discount during the month ended January 31, 2026.