Apartment Investment and Management Co. has agreed to sell five suburban multifamily properties in the greater Boston region for $740 million as the publicly traded company exits that market.
The agreement, announced separately by Aimco and the buyer, Harbor Group International, marks another step in Aimco’s shift toward seeking to maximize shareholder value after the company split its portfolio in 2020 and it liquidates assets to return capital to investors.
The Denver-based real estate investment trust remains under contract to sell two properties in Miami.
Source: News | Aimco to sell Boston-area apartments for $740 million, exit market
