Aimco closes on partial sale of parkmerced mezzanine loan and announces amended agreement for sale of remaining investment

Denver--(business wire)--apartment investment and management company (“aimco”) (nyse: aiv) announced today it has closed on the sale of a 20%, non-controlling position in its parkmerced mezzanine loan investment for $33.5 million. pursuant to the terms of the amended agreement, the purchaser will have the option to acquire the remaining 80% for an additional $134 million plus interest accruing at no less than 19% annually through may 2024. the purchaser pre-paid $4 million of interest at the ti.
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