The Top 10 Multifamily Deals of the Decade

AIMCO added to its sizable holdings in 2002 when it bought 17,383 units through its acquisition of Casden Properties. The acquisition significantly increased AIMCO’s presence in Southern California. Casden had 6,356 market-rate units in Southern California, including 1,381 units that were under development in the Park La Brea development in Los Angeles at the time of the sale. The acquisition also brought more than 11,000 affordable housing units to AIMCO. AIMCO also acquired National Partnership Investments Corp., a subsidiary of Casden, in the deal, which brought ownership interests in another 41,000 units to the company. In all, the deal increased the number of apartments that AIMCO owns or manages from 304,000 to 363,000, and increased the value of the company’s portfolio from $12.5 billion to $15 billion.