In December 2025, Aimco issued seller financing notes in conjunction with the sale of the Brickell Assemblage. Refer to Note 3 for a description of the contractual terms of the seller financing notes.

[2]

Subsequent to year end, we finalized an agreement to monetize a seller financing note 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, reducing the principal balance of $43.2 million to $18.5 million. As a result, we recorded a provision for credit losses of $22.9 million and a write-off to reduce the amortized cost to $18.5 million as of December 31, 2025. The provision for credit losses is reflected in Credit loss expense in our Consolidated Statements of Operations and as a reduction in the carrying value of Notes Receivable in our Consolidated Balance Sheets. Prior to the write-off, the amortized cost was $41.4 million, calculated as the note's $43.2 million principal balance less unamortized discount of $1.5 million and allowance for credit losses of $0.3 million. For the years ended December 31, 2025, 2024, and 2023, the amortization of the discount was $1.2 million, $1.1 million, and $1.1 million, respectively, which was recorded as a component of Interest Income in our Consolidated Statements of Operations.

A roll forward of our allowance for credit losses for the year ended December 31, 2025 is as follows:


	2025
Balance at Beginning of Period	$	(276	)
Provision for credit losses		(22,899	)
Write-offs charged against allowance for credit losses		23,175
Balance at December 31,	$	—

[3]

In December 2023, we sold a land parcel in downtown Fort Lauderdale also referred to as 200 Broward Avenue. In conjunction with this sale, we provided seller financing with a stated value of $21.2 million that was recorded net of $3.8 million of variable consideration. A portion of the interest payments accrued and were added to the principal balance, due at maturity of the note. In October 2025 we completed the transfer of our ownership interest in the joint venture holding the seller financing as further discussed in Note 3.