XML 75 R22.htm IDEA: XBRL DOCUMENT v3.24.0.1
Schedule III: Real Estate and Accumulated Depreciation
12 Months Ended
Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]  
Schedule III: Real Estate and Accumulated Depreciation

APARTMENT INVESTMENT AND MANAGEMENT COMPANY

AIMCO OP L.P.

SCHEDULE III: REAL ESTATE AND ACCUMULATED DEPRECIATION

December 31, 2023

(In Thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(2)

 

 

Gross Amount at Which

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Initial Costs

 

 

 

 

 

Costs Capitalized

 

 

Carried at Close of Period

 

 

(3)

 

 

(4)

 

 

(5)

 

 

 

 

(1)

 

 

 

 

 

Buildings and

 

 

Total Initial

 

 

Subsequent to

 

 

 

 

 

Buildings and

 

 

Total Carrying

 

 

Accumulated

 

 

Date

 

 

Location

 

Encumbrances

 

 

Land

 

 

Improvements

 

 

Acquisition Costs

 

 

Acquisition

 

 

Land

 

 

Improvements

 

 

Value

 

 

Depreciation

 

 

Acquired

Operating:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

118-122 West 23rd Street

 

New York, NY

 

 

16,472

 

 

 

14,985

 

 

 

23,459

 

 

 

38,444

 

 

 

5,811

 

 

 

14,985

 

 

 

29,270

 

 

 

44,255

 

 

 

(12,768

)

 

Jun 2012

173 E. 90th Street

 

New York, NY

 

 

12,138

 

 

 

12,066

 

 

 

4,535

 

 

 

16,601

 

 

 

9,021

 

 

 

12,067

 

 

 

13,555

 

 

 

25,622

 

 

 

(7,447

)

 

May 2004

237-239 Ninth Avenue

 

New York, NY

 

 

6,148

 

 

 

8,495

 

 

 

1,866

 

 

 

10,361

 

 

 

2,160

 

 

 

8,494

 

 

 

4,027

 

 

 

12,521

 

 

 

(2,798

)

 

Mar 2005

1045 on the Park Apartments Homes

 

Atlanta, GA

 

 

6,007

 

 

 

2,793

 

 

 

6,662

 

 

 

9,455

 

 

 

1,446

 

 

 

2,793

 

 

 

8,108

 

 

 

10,901

 

 

 

(2,998

)

 

Jul 2013

2200 Grace

 

Lombard, IL

 

 

11,193

 

 

 

642

 

 

 

7,788

 

 

 

8,430

 

 

 

310

 

 

 

642

 

 

 

8,098

 

 

 

8,740

 

 

 

(5,830

)

 

Aug 2018

Bank Lofts

 

Denver, CO

 

 

18,540

 

 

 

3,525

 

 

 

9,045

 

 

 

12,570

 

 

 

5,498

 

 

 

3,525

 

 

 

14,543

 

 

 

18,068

 

 

 

(9,506

)

 

Apr 2001

Bluffs at Pacifica, The

 

Pacifica, CA

 

 

 

 

 

8,108

 

 

 

4,132

 

 

 

12,240

 

 

 

17,924

 

 

 

8,108

 

 

 

22,056

 

 

 

30,164

 

 

 

(15,327

)

 

Oct 2006

Elm Creek

 

Elmhurst, IL

 

 

78,095

 

 

 

5,910

 

 

 

30,830

 

 

 

36,740

 

 

 

31,386

 

 

 

5,910

 

 

 

62,216

 

 

 

68,126

 

 

 

(42,430

)

 

Dec 1997

Evanston Place

 

Evanston, IL

 

 

46,670

 

 

 

3,232

 

 

 

25,546

 

 

 

28,778

 

 

 

18,291

 

 

 

3,232

 

 

 

43,837

 

 

 

47,069

 

 

 

(26,822

)

 

Dec 1997

Hillmeade

 

Nashville, TN

 

 

46,026

 

 

 

2,872

 

 

 

16,070

 

 

 

18,942

 

 

 

22,704

 

 

 

2,872

 

 

 

38,774

 

 

 

41,646

 

 

 

(28,777

)

 

Nov 1994

Hyde Park Tower

 

Chicago, IL

 

 

29,484

 

 

 

4,731

 

 

 

14,927

 

 

 

19,658

 

 

 

15,850

 

 

 

4,731

 

 

 

30,777

 

 

 

35,508

 

 

 

(18,054

)

 

Oct 2004

Plantation Gardens

 

Plantation, FL

 

 

60,133

 

 

 

3,773

 

 

 

19,443

 

 

 

23,216

 

 

 

23,863

 

 

 

3,773

 

 

 

43,306

 

 

 

47,079

 

 

 

(32,870

)

 

Oct 1999

Royal Crest Estates

 

Warwick, RI

 

 

 

 

 

22,433

 

 

 

24,095

 

 

 

46,528

 

 

 

7,365

 

 

 

22,433

 

 

 

31,460

 

 

 

53,893

 

 

 

(26,018

)

 

Aug 2002

Royal Crest Estates

 

Nashua, NH

 

 

173,435

 

 

 

68,230

 

 

 

45,562

 

 

 

113,792

 

 

 

18,536

 

 

 

68,231

 

 

 

64,097

 

 

 

132,328

 

 

 

(56,642

)

 

Aug 2002

Royal Crest Estates

 

Marlborough, MA

 

 

69,918

 

 

 

25,178

 

 

 

28,786

 

 

 

53,964

 

 

 

13,920

 

 

 

25,178

 

 

 

42,706

 

 

 

67,884

 

 

 

(36,076

)

 

Aug 2002

Waterford Village

 

Bridgewater, MA

 

 

 

 

 

29,110

 

 

 

28,101

 

 

 

57,211

 

 

 

13,151

 

 

 

29,110

 

 

 

41,252

 

 

 

70,362

 

 

 

(35,370

)

 

Aug 2002

Eldridge

 

Elmhurst, IL

 

 

26,691

 

 

 

3,483

 

 

 

35,706

 

 

 

39,189

 

 

 

68

 

 

 

3,483

 

 

 

35,774

 

 

 

39,257

 

 

 

(3,107

)

 

Aug 2021

Wexford Village

 

Worcester, MA

 

 

 

 

 

6,349

 

 

 

17,939

 

 

 

24,288

 

 

 

5,910

 

 

 

6,349

 

 

 

23,849

 

 

 

30,198

 

 

 

(18,364

)

 

Aug 2002

Willow Bend

 

Rolling Meadows, IL

 

 

43,501

 

 

 

2,717

 

 

 

15,437

 

 

 

18,154

 

 

 

18,997

 

 

 

2,717

 

 

 

34,434

 

 

 

37,151

 

 

 

(29,115

)

 

May 1998

Yacht Club at Brickell

 

Miami, FL

 

 

79,691

 

 

 

31,362

 

 

 

32,214

 

 

 

63,576

 

 

 

21,779

 

 

 

31,363

 

 

 

53,992

 

 

 

85,355

 

 

 

(32,845

)

 

Dec 2003

Yorktown Apartments

 

Lombard, IL

 

 

46,857

 

 

 

2,414

 

 

 

10,374

 

 

 

12,788

 

 

 

52,546

 

 

 

2,413

 

 

 

62,921

 

 

 

65,334

 

 

 

(46,041

)

 

Dec 1999

Total Operating

 

 

 

 

770,999

 

 

 

262,408

 

 

 

402,517

 

 

 

664,925

 

 

 

306,536

 

 

 

262,409

 

 

 

709,052

 

 

 

971,461

 

 

 

(489,205

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Development and redevelopment:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Benson Hotel & faculty Club, The

 

Aurora, CO

 

 

 

 

 

1,815

 

 

 

4,414

 

 

 

6,229

 

 

 

70,999

 

 

 

1,503

 

 

 

75,725

 

 

 

77,228

 

 

 

(4,204

)

 

Jan 2021

Bioscience 4

 

Aurora, CO

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,173

 

 

 

 

 

 

4,173

 

 

 

4,173

 

 

 

 

 

Feb 2023

Hamilton House

 

Miami, FL

 

 

 

 

 

11,467

 

 

 

 

 

 

11,467

 

 

 

11,325

 

 

 

11,467

 

 

 

11,325

 

 

 

22,792

 

 

 

 

 

Jul 2021

One Edgewater

 

Miami, FL

 

 

 

 

 

20,045

 

 

 

 

 

 

20,045

 

 

 

4,633

 

 

 

19,847

 

 

 

4,831

 

 

 

24,678

 

 

 

 

 

Jul 2021

Flying Horse

 

Colorado Springs, CO

 

 

 

 

 

4,257

 

 

 

 

 

 

4,257

 

 

 

3,818

 

 

 

4,269

 

 

 

3,806

 

 

 

8,075

 

 

 

 

 

Jul 2021

Hamilton, The

 

Miami, FL

 

 

100,323

 

 

 

45,239

 

 

 

34,891

 

 

 

80,130

 

 

 

114,338

 

 

 

43,307

 

 

 

151,161

 

 

 

194,468

 

 

 

(10,637

)

 

Aug 2020

Oak Shore

 

Corte Madera, CA

 

 

5,148

 

 

 

 

 

 

 

 

 

 

 

 

42,050

 

 

 

 

 

 

42,050

 

 

 

42,050

 

 

 

(39

)

 

Jun 2021

Upton Place

 

Washington, DC

 

 

121,298

 

 

 

 

 

 

21,280

 

 

 

21,280

 

 

 

258,881

 

 

 

 

 

 

280,161

 

 

 

280,161

 

 

 

(910

)

 

Dec 2020

Strathmore Phase I

 

Washington, DC

 

 

74,673

 

 

 

 

 

 

 

 

 

 

 

 

110,646

 

 

 

 

 

 

110,646

 

 

 

110,646

 

 

 

 

 

Feb 2022

300 W. Broward Blvd.

 

Ft. Lauderdale, FL

 

 

 

 

 

21,355

 

 

 

 

 

 

21,355

 

 

 

14,814

 

 

 

21,024

 

 

 

15,145

 

 

 

36,169

 

 

 

 

 

Jan 2022

Fitzsimons Phase Four

 

Aurora, CO

 

 

 

 

 

2,016

 

 

 

 

 

 

2,016

 

 

 

1,187

 

 

 

2,040

 

 

 

1,163

 

 

 

3,203

 

 

 

 

 

Dec 2022

Sears Parcel 1

 

Ft. Lauderdale, FL

 

 

 

 

 

68,485

 

 

 

 

 

 

68,485

 

 

 

14,932

 

 

 

68,484

 

 

 

14,933

 

 

 

83,417

 

 

 

 

 

Jun 2022

Sears Parcel 2

 

Ft. Lauderdale, FL

 

 

 

 

 

20,737

 

 

 

 

 

 

20,737

 

 

 

2,519

 

 

 

20,573

 

 

 

2,683

 

 

 

23,256

 

 

 

 

 

Jul 2022

Sears Parcel 3

 

Ft. Lauderdale, FL

 

 

 

 

 

16,402

 

 

 

 

 

 

16,402

 

 

 

1,485

 

 

 

15,809

 

 

 

2,078

 

 

 

17,887

 

 

 

 

 

Jun 2022

Total Development and redevelopment

 

 

 

 

301,442

 

 

 

211,818

 

 

 

60,585

 

 

 

272,403

 

 

 

655,800

 

 

 

208,323

 

 

 

719,880

 

 

 

928,203

 

 

 

(15,790

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

St. George Villas

 

St. George, SC

 

 

203

 

 

 

108

 

 

 

1,024

 

 

 

1,132

 

 

 

446

 

 

 

71

 

 

 

1,507

 

 

 

1,578

 

 

 

(1,398

)

 

Jan 2006

1001 Brickell Bay Drive

 

Miami, FL

 

 

81,300

 

 

 

150,018

 

 

 

152,791

 

 

 

302,809

 

 

 

10,572

 

 

 

150,018

 

 

 

163,363

 

 

 

313,381

 

 

 

(74,409

)

 

Jul 2019

Total Portfolio

 

 

 

 

1,153,944

 

 

 

624,352

 

 

 

616,917

 

 

 

1,241,269

 

 

 

973,354

 

 

 

620,821

 

 

 

1,593,802

 

 

 

2,214,623

 

 

 

(580,802

)

 

 

(1)
Encumbrances are presented before reduction for debt issuance costs.
(2)
Includes costs capitalized since acquisition or date of initial acquisition of the community.
(3)
The aggregate cost of land and depreciable property for federal income tax purposes was approximately $1.7 billion as of December 31, 2023. (unaudited)
(4)
Depreciable life for buildings and improvements ranges from five to 30 years and is calculated on a straight-line basis.
(5)
Date we acquired the apartment community or first acquired the partnership that owns the community.

APARTMENT INVESTMENT AND MANAGEMENT COMPANY

AIMCO OP L.P.

SCHEDULE III: REAL ESTATE AND ACCUMULATED DEPRECIATION

For the Years Ended December 31, 2023, 2022, and 2021

(In Thousands)

 

 

 

2023

 

 

2022

 

 

2021

 

Total real estate balance at beginning of year

 

$

1,963,483

 

 

$

1,791,499

 

 

$

1,500,269

 

Additions during the year:

 

 

 

 

 

 

 

 

 

Acquisitions

 

 

1,893

 

 

 

146,236

 

 

 

69,178

 

Capital additions

 

 

292,921

 

 

 

273,380

 

 

 

222,052

 

Dispositions

 

 

(30,347

)

 

 

(233,308

)

 

 

 

Write-offs of fully depreciated assets and other

 

 

(13,327

)

 

 

(14,324

)

 

 

 

   Total real estate balance at end of year

 

$

2,214,623

 

 

$

1,963,483

 

 

$

1,791,499

 

 

 

 

 

 

 

 

 

 

Accumulated depreciation balance at beginning of year

 

$

530,722

 

 

$

561,115

 

 

$

495,010

 

Depreciation

 

 

63,407

 

 

 

143,983

 

 

 

66,105

 

Dispositions

 

 

 

 

 

(160,052

)

 

 

 

Write-offs of fully depreciated assets and other

 

 

(13,327

)

 

 

(14,324

)

 

 

 

Accumulated depreciation balance at end of year

 

$

580,802

 

 

$

530,722

 

 

$

561,115