Aimco Withdraws 2020 Guidance - Quick Facts

(RTTNews) - Apartment Investment and Management Company (AIV), a real estate investment trust, said it expects first quarter results to be good, in-line with announced expectations. However, the company decided to withdraw its previous 2020 guidance.

Chief Financial Officer Paul Beldin said, "To bolster liquidity in this time of uncertainty, Aimco: drew down $300 million under its credit facility; and deferred to a later date planned capital spending of approximately $150 million, while continuing construction of four properties with expected remaining costs of $210 million."