Related Cos. Closes on Acquisition of Aimco’s Affordable Housing Portfolio

New York City–based Related Cos. has closed on a deal it first announced in April to acquire Denver-based Aimco's affordable housing assets, reports Donna Kimura of MFE sister brand AHF.

Related Affordable, the affordable housing division of Related Cos. … was able to close on all 51 properties in 90 days. The properties are located in 16 states and include the Hunters Point communities—four affordable, garden-style properties with 604 apartment homes located in San Francisco.

For Aimco, the deal simplifies its business and completes a planned exit from the affordable housing sector.