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Assets Held for Sale and Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2025

Discontinued Operations and Disposal Groups [Abstract]

Summary of Disposal Groups Including Discontinued Operations

The following table presents a summary of the major components of assets and liabilities, in accordance with GAAP, related to the discontinued operations as of September 30, 2025 and December 31, 2024 (in thousands):

		September 30, 2025				December 31, 2024
Buildings and improvements		$	62,203			$	203,593
Land		$	68,231				151,301
Total real estate			130,434				354,894
Accumulated depreciation			(54,718	)			(176,566	)
Net real estate			75,716				178,328
Restricted cash			—				1,316
Other assets, net			196				1,451
Assets held for sale, net		$	75,912			$	181,095
Non-recourse property debt, net		$	172,895			$	240,994
Accrued liabilities and other			1,674				4,938
Liabilities related to assets held for sale, net		$	174,569			$	245,932

The following table summarizes income from discontinued operations and the related gain on disposition of real estate for the three and nine months ended September 30, 2025 and 2024:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2025				2024				2025				2024
REVENUES
Rental and other property revenues		$	15,178			$	17,830			$	51,573			$	52,871
OPERATING EXPENSES
Property operating expenses			5,348				5,679				17,306				17,482
Depreciation and amortization			712				2,169				4,795				7,209
Total operating expenses			6,060				7,848				22,101				24,691
Interest income			2				8				2				20
Interest expense			(3,754	)			(2,708	)			(8,999	)			(8,025	)
Gain on dispositions of real estate			377,117				—				377,117				—
Income (loss) from discontinued operations before income tax			382,483				7,282				397,592				20,175
Income tax benefit (expense)			(177	)			—				(177	)			—
Income (loss) from discontinued operations, net of taxes			382,306				7,282				397,415				20,175
(Income) loss from discontinued operations attributable to common noncontrolling    interests in Aimco Operating Partnership			(16,084	)			(383	)			(16,871	)			(1,051	)
Net income (loss) from discontinued operations attributable to Aimco		$	366,222			$	6,899			$	380,544			$	19,124

Summary of Cash Flow Information Related to Discontinued Operation

The following table summarizes cash flow information related to the discontinued operation for the nine months ended September 30, 2025 and 2024:

		Nine Months Ended September 30,
		2025				2024
Total operating cash flows from (used in) discontinued operations		$	24,855			$	28,412
Total investing cash flows from (used in) discontinued operations			467,771				(3,635	)

Schedule of Assets and Liabilities Related to Real Estate Properties Held for Sale

The following table presents a summary of the major components of assets and liabilities, in accordance with GAAP, related to the real estate properties held for sale as of September 30, 2025 and December 31, 2024 (in thousands):

		September 30, 2025				December 31, 2024
Buildings and improvements		$	218,964			$	218,388
Land			181,381				181,381
Total real estate			400,345				399,769
Accumulated depreciation			(126,840	)			(126,840	)
Net real estate			273,505				272,929
Restricted cash			305				517
Other assets, net			2,043				2,633
Assets held for sale, net		$	275,853			$	276,079
Non-recourse property debt, net		$	157,867			$	158,888
Accrued liabilities and other			2,188				1,732
Liabilities related to assets held for sale, net		$	160,055			$	160,620

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Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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