Aimco announces: the realization of $100m of value creation from the successful development of four properties leased from air communities; the cancellation of the related $469m lease obligation;  and the repayment of $534m debt owed to air.

Denver--(business wire)--(nyse: aiv) - apartment investment and management company (“aimco”) has executed definitive agreements with air communities (“air”) that will result in more than $100 million of realized value creation for aimco shareholders, eliminate the $469 million obligation related to the four leased properties from air, and lead directly to the refinance or repayment of nearly $1 billion of debt. following the successful development and lease-up of 707 leahy in redwood city, ca,
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