"Same store" sales for the REIT's 552 apartment communities, which total 151,398 units, reflect a 5.1% increase in revenues, 3.7% increase in operating expenses and a 5.9% increase in net operating income between second quarter 2000 and 1999. There was a slight change in the communities' weighted average physical occupancy while the average monthly rental of $642 per occupied unit reflects a 4.9% increase from last year.
In the second quarter, Aimco finalized $207 million in acquisitions, dispositions and mortgage financing transactions. The REIT bought $43 million in limited partnership interests and sold six apartment communities and six commercial properties for $75 million. New mortgage and loan assumptions totaled $89 million for the quarter.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
