January 27, 2021
Business News

Aimco Provides Additional Tax Information Related to 2020 Property Sales and Spin-Off

DENVER–()–On September 14, 2020, Apartment Investment and Management Company (NYSE:AIV) (“Aimco”) announced the closing of a California joint venture and its plan to separate its business through a spin-off, into two, separate and distinct, publicly traded companies, Apartment Income REIT (“AIR”) and Aimco.

As described below, these transactions have material tax consequences to taxable shareholders. These transactions are also expected to have material benefits to AIR and to taxable shareholders after the spin-off. Among these benefits, AIR is expected to have a refreshed tax basis that reduces tax costs of future property sales and so enhances portfolio management. AIR’s refreshed tax basis makes…

Click here to view the original article.

Related Posts

You might also like ...

Pelican Products Promotes Kevin Murphy to Lead Marketing for the U.S.
AON Splash Image
Booksy raises $70 million to bring its beauty and wellness appointment booking app to even more salons and customers across the US, UK, and EU
Essential Declares March 2021 Dividend