WASHINGTON (dpa-AFX) - 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.'
Copyright RTT News/dpa-AFX
© 2020 AFX News
