During the third and fourth quarters of 2025, we sold five properties located in the suburban Boston area in Massachusetts, New Hampshire, and Rhode Island (the “Boston Portfolio”) for $740.0 million. In connection with the sale of the Boston portfolio, $173.4 million of non-recourse property debt was assumed by the purchaser.

In March 2026, we completed the sale of our portfolio of seven apartment properties located in the Chicago market (the "Chicago Portfolio") for $455.0 million. In connection with the sale of the Chicago Portfolio, $282.5 million of non-recourse property debt was assumed by the purchaser.

We determined that the Boston Portfolio and Chicago Portfolio were each disposal groups that met the criteria of discontinued operations as the sales of these properties represented strategic shifts that had significant effects on our operations and, as such, the results, assets, and liabilities of these properties are classified as discontinued operations for all periods presented in accordance with ASC 205-20 “Presentation of Financial Statements: Discontinued Operations”.

The following table summarizes income from discontinued operations for the month ended January 31, 2026, and the three and six months ended June 30, 2025:


	Month Ended January 31,			Three Months Ended June 30,			Six Months Ended June 30,
	2026			2025			2025
REVENUES
Rental and other property revenues	$	3,994		$	29,406		$	58,876

OPERATING EXPENSES
Property operating expenses		1,647			10,444			20,371
Depreciation and amortization		398			4,425			8,791
Total operating expenses		2,045			14,869			29,162

Interest income		—			—			7
Interest expense		(1,086	)		(5,806	)		(11,549	)
Income (loss) from discontinued operations before income tax		863			8,731			18,172
Income tax benefit (expense)		—			—			—
Income (loss) from discontinued operations, net of taxes		863			8,731			18,172
(Income) loss from discontinued operations attributable to common noncontrolling interests in Aimco Operating Partnership		(29	)		(454	)		(948	)
Net income (loss) from discontinued operations attributable to Aimco	$	834		$	8,277		$	17,224