Wes Powell, president and CEO at Aimco (NYSE: AIV), participated in a video interview during Nareit’s REITworld: 2023 Annual Conference held Nov. 14-16 in Los Angeles.
Powell said Aimco was fielding questions from investors around its operating portfolio of about 6,000 apartment units predominantly located in suburban Boston and Chicago, as well as New York City and South Florida.
“We really point to what’s been pretty strong growth for us on a relative basis,” he said. “Across the industry for the last few years, rents have been up substantially.”
Powell also said that Aimco has about $800 million in projects underway currently, in various stages from active construction all the way up through operations management.
“Looking forward, we’ve got a pipeline of opportunities in South Florida, the D.C. metro area, and the front range of Colorado,” he said.
Powell added that in the year ahead, Aimco plans to focus on prudently allocating capital as it has for the past several years, as well as maintaining its balance sheet.