$418 Million AIMCO Acquisition

In the largest multifamily sale in Los Angeles' history, Apartment Investment & Management Co., commonly known as AIMCO, purchased the 1,381-unit apartment development at Park LaBrea from Casden Properties. The sale comes as a result of AIMCO's overall acquisition of Casden, a Los Angeles based REIT. AIMCO agreed to acquire Casden in a transaction valued at over $1.8 billion in cash, securities and debt. Total consideration for the LaBrea apartment complex was $418 million, or approximately $302,700 per unit.