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Aimco Completes $314-Mil Deal for Balance of Oxford Realty Financial Group

DENVER-Aimco has secured the balance of Oxford Realty Financial Group, another apartment REIT, in a $314-million deal using cash and securities. Aimco already manages 165 of Oxford's 166 apartment complexes.

By John Rebchook | Updated on September 25, 2000

DENVER-Apartment Investment and Management Co., based here, has secured the balance of Oxford Realty Financial Group Inc., an apartment REIT for which it already operates 165 of its 166 holdings, plus some of its stock. The $314-million deal transfers cash and more securities.

Aimco’s affiliate holds long-term contracts and stock in some Oxford communities, totaling 36,662 units in 18 states. The communities are owned by 166 separate partnerships and are subject to a total of $1.4 billion in mortgages, with Oxford’s pro-rata share standing at $555 million.

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