Apartment Investment and Management (AIV) 10-Q 9 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 08, 2019
Entity Registrant Name	APARTMENT INVESTMENT & MANAGEMENT CO
Entity Central Index Key	0000922864
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Trading Symbol	AIV
Entity File Number	1-13232
Entity Tax Identification Number	841259577
Entity Address, Address Line One	4582 South Ulster Street
Entity Address, Address Line Two	Suite 1100
Entity Address, City or Town	Denver
Entity Address, State or Province	Colorado
Entity Address, Postal Zip Code	80237
City Area Code	303
Local Phone Number	757-8101
Entity Common Stock, Shares Outstanding		148,884,199
AIMCO Properties, LP [Member]
Entity Registrant Name	AIMCO PROPERTIES LP
Entity Central Index Key	0000926660
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity File Number	0-24497
Entity Tax Identification Number	841275621
Entity Address, Address Line One	4582 South Ulster Street
Entity Address, Address Line Two	Suite 1100
Entity Address, City or Town	Denver
Entity Address, State or Province	Colorado
Entity Address, Postal Zip Code	80237
City Area Code	303
Local Phone Number	757-8101
Entity Common Stock, Shares Outstanding		158,452,309

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Buildings and improvements	$ 6,570,710	$ 6,552,065
Land	1,741,531	1,756,525
Total real estate	8,312,241	8,308,590
Accumulated depreciation	(2,593,241)	(2,585,115)
Net real estate	5,719,000	5,723,475
Cash and cash equivalents	33,958	36,858
Restricted cash	31,949	35,737
Other assets	455,897	351,541
Assets held for sale	0	42,393
Total assets	6,240,804	6,190,004
LIABILITIES AND EQUITY
Non-recourse property debt, net	3,702,487	3,915,305
Revolving credit facility borrowings	294,960	160,360
Total indebtedness	3,997,447	4,075,665
Accrued liabilities and other	299,313	226,230
Liabilities related to assets held for sale	0	23,177
Total liabilities	4,296,760	4,325,072
Preferred noncontrolling interests/Redeemable Preferred Units	101,178	101,291
Commitments and contingencies (Note 5)
Equity/Partners' Capital:
Perpetual Preferred Stock	0	125,000
Common Stock, $0.01 par value, 500,787,260 shares authorized, 148,827,363 and 144,623,034 shares issued/outstanding at June 30, 2019 and December 31, 2018, respectively	1,488	1,446
Additional paid-in capital	3,498,629	3,515,686
Accumulated other comprehensive income	4,866	4,794
Distributions in excess of earnings	(1,741,765)	(1,947,507)
Total Aimco equity	1,763,218	1,699,419
Noncontrolling interests in consolidated real estate partnerships	(2,718)	(2,967)
Common noncontrolling interests in Aimco Operating Partnership	82,366	67,189
Total equity	1,842,866	1,763,641
Total liabilities and equity	6,240,804	6,190,004
AIMCO Properties, LP [Member]
ASSETS
Buildings and improvements	6,570,710	6,552,065
Land	1,741,531	1,756,525
Total real estate	8,312,241	8,308,590
Accumulated depreciation	(2,593,241)	(2,585,115)
Net real estate	5,719,000	5,723,475
Cash and cash equivalents	33,958	36,858
Restricted cash	31,949	35,737
Other assets	455,897	351,541
Assets held for sale	0	42,393
Total assets	6,240,804	6,190,004
LIABILITIES AND EQUITY
Non-recourse property debt, net	3,702,487	3,915,305
Revolving credit facility borrowings	294,960	160,360
Total indebtedness	3,997,447	4,075,665
Accrued liabilities and other	299,313	226,230
Liabilities related to assets held for sale	0	23,177
Total liabilities	4,296,760	4,325,072
Preferred noncontrolling interests/Redeemable Preferred Units	101,178	101,291
Commitments and contingencies (Note 5)
Equity/Partners' Capital:
Preferred units	0	125,000
General Partner and Special Limited Partner	1,763,218	1,574,419
Limited Partners	82,366	67,189
Partners’ capital attributable to the Aimco Operating Partnership	1,845,584	1,766,608
Partners' Capital Attributable to Noncontrolling Interest	(2,718)	(2,967)
Total partners’ capital	1,842,866	1,763,641
Total liabilities and equity	$ 6,240,804	$ 6,190,004

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	500,787,260	500,787,260
Common Stock, shares issued (in shares)	148,827,363	144,623,034
Common Stock, shares outstanding (in shares)	148,827,363	144,623,034

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
REVENUES
Total revenues	$ 224,200	$ 250,187	$ 454,435	$ 497,907
OPERATING EXPENSES
Depreciation and amortization	91,924	97,485	185,489	190,033
General and administrative expenses	12,124	13,882	22,493	25,237
Other expenses, net	4,209	4,366	9,912	7,324
Total operating expenses	184,096	200,826	372,917	395,169
Interest income	3,065	2,884	5,791	5,056
Interest expense	(39,541)	(49,906)	(80,950)	(97,701)
Gain on dispositions of real estate	64,310	310	355,783	53,505
Other, net	231	200	303	424
Income before income tax benefit (expense)	68,169	2,849	362,445	64,022
Income tax benefit (expense)	1,827	4,307	(1,154)	38,824
Net income	69,996	7,156	361,291	102,846
Noncontrolling interests:
Net income attributable to noncontrolling interests in consolidated real estate partnerships	(70)	(45)	(161)	(6,251)
Net income attributable to preferred noncontrolling interests in Aimco Operating Partnership	(1,933)	(1,934)	(3,867)	(3,871)
Net income attributable to common noncontrolling interests in Aimco Operating Partnership	(3,534)	(140)	(18,671)	(3,895)
Net income attributable to noncontrolling interests	(5,537)	(2,119)	(22,699)	(14,017)
Net income attributable to the company	64,459	5,037	338,592	88,829
Net income attributable to the company's preferred equity holders	(5,187)	(2,149)	(7,335)	(4,297)
Net income attributable to participating securities	(38)	(71)	(455)	(190)
Net income attributable to the company's common equity holders	$ 59,234	$ 2,817	$ 330,802	$ 84,342
Net income attributable to the company per common share/unit - basic	$ 0.40	$ 0.02	$ 2.25	$ 0.56
Net income attributable to the company per common share/unit - diluted	$ 0.40	$ 0.02	$ 2.25	$ 0.55
Weighted average common shares/units outstanding - basic	148,367	151,963	146,994	151,918
Weighted average common shares/units outstanding - diluted	148,599	152,093	147,220	152,048
AIMCO Properties, LP [Member]
REVENUES
Total revenues	$ 224,200	$ 250,187	$ 454,435	$ 497,907
OPERATING EXPENSES
Depreciation and amortization	91,924	97,485	185,489	190,033
General and administrative expenses	12,124	13,882	22,493	25,237
Other expenses, net	4,209	4,366	9,912	7,324
Total operating expenses	184,096	200,826	372,917	395,169
Interest income	3,065	2,884	5,791	5,056
Interest expense	(39,541)	(49,906)	(80,950)	(97,701)
Gain on dispositions of real estate	64,310	310	355,783	53,505
Other, net	231	200	303	424
Income before income tax benefit (expense)	68,169	2,849	362,445	64,022
Income tax benefit (expense)	1,827	4,307	(1,154)	38,824
Net income	69,996	7,156	361,291	102,846
Noncontrolling interests:
Net income attributable to noncontrolling interests in consolidated real estate partnerships	(70)	(45)	(161)	(6,251)
Net income attributable to the company	69,926	7,111	361,130	96,595
Net income attributable to the company's preferred equity holders	(7,120)	(4,083)	(11,202)	(8,168)
Net income attributable to participating securities	11	(79)	(472)	(204)
Net income attributable to the company's common equity holders	$ 62,817	$ 2,949	$ 349,456	$ 88,223
Net income attributable to the company per common share/unit - basic and diluted	$ 0.40	$ 0.02	$ 2.25	$ 0.55
Weighted average common shares/units outstanding - basic	156,637	159,709	155,158	159,289
Weighted average common shares/units outstanding - diluted	157,018	159,835	155,517	159,418
Real Estate [Member]
REVENUES
Total revenues	$ 224,200	$ 231,130	$ 454,435	$ 456,523
OPERATING EXPENSES
Property operating expenses	75,839	76,031	155,023	154,318
Real Estate [Member] | AIMCO Properties, LP [Member]
REVENUES
Total revenues	224,200	231,130	454,435	456,523
OPERATING EXPENSES
Property operating expenses	75,839	76,031	155,023	154,318
Asset Management Business [Member]
REVENUES
Total revenues	0	19,057	0	41,384
OPERATING EXPENSES
Property operating expenses	0	9,062	0	18,257
Asset Management Business [Member] | AIMCO Properties, LP [Member]
REVENUES
Total revenues	0	19,057	0	41,384
OPERATING EXPENSES
Property operating expenses	$ 0	$ 9,062	$ 0	$ 18,257

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net income	$ 69,996	$ 7,156	$ 361,291	$ 102,846
Other comprehensive income (loss):
Unrealized gains (losses) on available for sale debt securities	16	(451)	77	(1,051)
Unrealized (losses) gains on interest rate swaps	0	(4)	0	415
Losses on interest rate swaps reclassified into earnings from accumulated other comprehensive loss	0	100	0	219
Other comprehensive income (loss)	16	(355)	77	(417)
Comprehensive income	70,012	6,801	361,368	102,429
Comprehensive income attributable to noncontrolling interests	(5,538)	(2,100)	(22,704)	(13,995)
Comprehensive income attributable to Aimco/Operating Partnership	64,474	4,701	338,664	88,434
AIMCO Properties, LP [Member]
Net income	69,996	7,156	361,291	102,846
Other comprehensive income (loss):
Unrealized gains (losses) on available for sale debt securities	16	(451)	77	(1,051)
Unrealized (losses) gains on interest rate swaps	0	(4)	0	415
Losses on interest rate swaps reclassified into earnings from accumulated other comprehensive loss	0	100	0	219
Other comprehensive income (loss)	16	(355)	77	(417)
Comprehensive income	70,012	6,801	361,368	102,429
Comprehensive income attributable to noncontrolling interests	(70)	(45)	(161)	(6,251)
Comprehensive income attributable to Aimco/Operating Partnership	$ 69,942	$ 6,756	$ 361,207	$ 96,178

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Distributions in Excess of Earnings	Total Aimco Equity	Noncontrolling Interests In Consolidated Real Estate Partnerships	Common Noncontrolling Interests In Aimco Operating Partnership
Balances at Dec. 31, 2017	$ 1,655,753	$ 125,000	$ 1,524	$ 3,900,090	$ 3,603	$ (2,367,073)	$ 1,663,144	$ (1,716)	$ (5,675)
Balances (in shares) at Dec. 31, 2017		5,000	152,435
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Aimco Operating Partnership units	50,151								50,151
Redemption of Aimco Operating Partnership units	(7,611)								(7,611)
Amortization of share-based compensation cost	5,261			4,481			4,481		780
Amortization of share-based compensation cost (in shares)			21
Effect of changes in ownership of consolidated entities	(10,102)			(17,385)			(17,385)		7,283
Other, net	122		$ 2	122		(2)	122
Other, net (in shares)			136
Net income	98,975					88,829	88,829	6,251	3,895
Change in accumulated other comprehensive income	(417)				(395)		(395)		(22)
Cash dividends paid to Common Stockholders	(119,558)					(119,558)	(119,558)
Cash dividends paid to Preferred Stockholders	(4,297)					(4,297)	(4,297)
Distributions to noncontrolling interests	(13,492)							(7,519)	(5,973)
Balances at Jun. 30, 2018	1,654,785	$ 125,000	$ 1,526	3,887,308	3,208	(2,402,101)	1,614,941	(2,984)	42,828
Balances (in shares) at Jun. 30, 2018		5,000	152,592
Balances at Mar. 31, 2018	1,662,647	$ 125,000	$ 1,525	3,885,327	3,544	(2,345,206)	1,670,190	(2,755)	(4,788)
Balances (in shares) at Mar. 31, 2018		5,000	152,568
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Aimco Operating Partnership units	50,151								50,151
Redemption of Aimco Operating Partnership units	(648)								(648)
Amortization of share-based compensation cost	2,273			1,850			1,850		423
Amortization of share-based compensation cost (in shares)			2
Effect of changes in ownership of consolidated entities	805			101			101		704
Other, net	29		$ 1	30		(2)	29
Other, net (in shares)			22
Net income	5,222					5,037	5,037	45	140
Change in accumulated other comprehensive income	(355)				(336)		(336)		(19)
Cash dividends paid to Common Stockholders	(59,781)					(59,781)	(59,781)
Cash dividends paid to Preferred Stockholders	(2,149)					(2,149)	(2,149)
Distributions to noncontrolling interests	(3,409)							(274)	(3,135)
Balances at Jun. 30, 2018	1,654,785	$ 125,000	$ 1,526	3,887,308	3,208	(2,402,101)	1,614,941	(2,984)	42,828
Balances (in shares) at Jun. 30, 2018		5,000	152,592
Balances at Dec. 31, 2018	1,763,641	$ 125,000	$ 1,446	3,515,686	4,794	(1,947,507)	1,699,419	(2,967)	67,189
Balances (in shares) at Dec. 31, 2018		5,000	144,623
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchases of Common Stock	(20,682)		$ (5)	(20,677)			(20,682)
Repurchases of Common Stock (in shares)			(461)
Redemption of Preferred Stock	(125,000)	$ (125,000)		4,089		(4,089)	(125,000)
Redemption of Preferred Stock (in shares)		(5,000)
Issuance of Aimco Operating Partnership units	3,034								3,034
Redemption of Aimco Operating Partnership units	(4,132)		$ 1	3,422			3,423		(7,555)
Redemption of Aimco Operating Partnership units (in shares)			70
Amortization of share-based compensation cost	5,224			3,632			3,632		1,592
Amortization of share-based compensation cost (in shares)			22
Effect of changes in ownership of consolidated entities				(7,019)			(7,019)	1,042	5,977
Purchase of noncontrolling interest in consolidated real estate partnerships	(917)							(917)
Other, net	77		$ 1	57			58	19
Other, net (in shares)			81
Net income	357,424					338,592	338,592	161	18,671
Change in accumulated other comprehensive income	77				72		72		5
Cash dividends paid to Common Stockholders	(125,514)					(125,514)	(125,514)
Common Stock issued to Common Stockholders in special dividend	(516)		$ 45	(561)			(516)
Common Stock issued to Common Stockholders in special dividend (in shares)			4,492
Cash dividends paid to Preferred Stockholders	(3,247)					(3,247)	(3,247)
Distributions to noncontrolling interests	(6,603)							(56)	(6,547)
Balances at Jun. 30, 2019	1,842,866		$ 1,488	3,498,629	4,866	(1,741,765)	1,763,218	(2,718)	82,366
Balances (in shares) at Jun. 30, 2019			148,827
Balances at Mar. 31, 2019	1,960,272	$ 125,000	$ 1,488	3,495,295	4,851	(1,742,998)	1,883,636	(2,857)	79,493
Balances (in shares) at Mar. 31, 2019		5,000	148,758
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemption of Preferred Stock	(125,000)	$ (125,000)		4,089		(4,089)	(125,000)
Redemption of Preferred Stock (in shares)		(5,000)
Issuance of Aimco Operating Partnership units	3,034								3,034
Redemption of Aimco Operating Partnership units	(1,575)		$ 1	3,422			3,423		(4,998)
Redemption of Aimco Operating Partnership units (in shares)			70
Amortization of share-based compensation cost	1,986			1,190			1,190		796
Effect of changes in ownership of consolidated entities				(4,851)			(4,851)	1,042	3,809
Purchase of noncontrolling interest in consolidated real estate partnerships	(917)							(917)
Other, net	(1)		$ (1)				(1)
Other, net (in shares)			(1)
Net income	68,063					64,459	64,459	70	3,534
Change in accumulated other comprehensive income	16				15		15		1
Cash dividends paid to Common Stockholders	(58,039)					(58,039)	(58,039)
Common Stock issued to Common Stockholders in special dividend	(516)			(516)			(516)
Cash dividends paid to Preferred Stockholders	(1,098)					(1,098)	(1,098)
Distributions to noncontrolling interests	(3,359)							(56)	(3,303)
Balances at Jun. 30, 2019	$ 1,842,866		$ 1,488	$ 3,498,629	$ 4,866	$ (1,741,765)	$ 1,763,218	$ (2,718)	$ 82,366
Balances (in shares) at Jun. 30, 2019			148,827

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 361,291	$ 102,846
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	185,489	190,033
Gain on dispositions of real estate	(355,783)	(53,505)
Income tax expense (benefit)	1,154	(38,824)
Other adjustments	6,443	2,307
Net changes in operating assets and operating liabilities	(28,555)	(17,231)
Net cash provided by operating activities	170,039	185,626
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of real estate and deposits related to purchases of real estate	(43,743)	(205,318)
Capital expenditures	(176,488)	(164,116)
Proceeds from dispositions of real estate	422,456	76,317
Purchases of corporate assets	(7,186)	(2,649)
Other investing activities	2,486	2,079
Net cash provided by (used in) investing activities	197,525	(293,687)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of non-recourse property debt	0	360,613
Principal repayments of non-recourse property debt	(207,790)	(257,144)
Net borrowings on revolving credit facility	134,600	153,010
Repurchases of Common Stock	(20,682)	0
Redemption of Preferred Stock	(125,000)	0
Payment of dividends to Common Stockholders	(125,350)	(119,288)
Payment of dividends to Preferred Stockholders	(3,247)	(4,297)
Payment of distributions to noncontrolling interests	(10,937)	(16,998)
Redemption of noncontrolling interests in the Aimco Operating Partnership	(4,244)	(7,816)
Purchases of noncontrolling interests in consolidated real estate partnerships	(917)	(3,579)
Other financing activities	(10,685)	(41)
Net cash (used in) provided by financing activities	(374,252)	104,460
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(6,688)	(3,601)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	72,595	142,541
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	65,907	138,940
AIMCO Properties, LP [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	361,291	102,846
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	185,489	190,033
Gain on dispositions of real estate	(355,783)	(53,505)
Income tax expense (benefit)	1,154	(38,824)
Other adjustments	6,443	2,307
Net changes in operating assets and operating liabilities	(28,555)	(17,231)
Net cash provided by operating activities	170,039	185,626
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of real estate and deposits related to purchases of real estate	(43,743)	(205,318)
Capital expenditures	(176,488)	(164,116)
Proceeds from dispositions of real estate	422,456	76,317
Purchases of corporate assets	(7,186)	(2,649)
Other investing activities	2,486	2,079
Net cash provided by (used in) investing activities	197,525	(293,687)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of non-recourse property debt	0	360,613
Principal repayments of non-recourse property debt	(207,790)	(257,144)
Net borrowings on revolving credit facility	134,600	153,010
Repurchases of Common Stock	(20,682)	0
Redemption of preferred units held by Aimco	(125,000)	0
Payment of dividends to Preferred Stockholders	(7,114)	(8,168)
Payment of distributions to General Partner and Special Limited Partner	(125,350)	(119,288)
Payment of distributions to Limited Partners	(7,014)	(5,625)
Payment of distributions to noncontrolling interests	(56)	(7,502)
Redemption of noncontrolling interests in the Aimco Operating Partnership	(4,244)	(7,816)
Purchases of noncontrolling interests in consolidated real estate partnerships	(917)	(3,581)
Other financing activities	(10,685)	(39)
Net cash (used in) provided by financing activities	(374,252)	104,460
NET DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(6,688)	(3,601)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	72,595	142,541
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 65,907	$ 138,940

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Partners' Capital - USD ($) $ in Thousands	Total	AIMCO Properties, LP [Member]	AIMCO Properties, LP [Member]Preferred Units [Member]	AIMCO Properties, LP [Member]General Partner and Special Limited Partner [Member]	AIMCO Properties, LP [Member]Limited Partner [Member]	AIMCO Properties, LP [Member]Partners Capital Attributable To The Partnership [Member]	AIMCO Properties, LP [Member]Noncontrolling Interests In Consolidated Real Estate Partnerships
Balances at Dec. 31, 2017		$ 1,655,753	$ 125,000	$ 1,538,144	$ (5,675)	$ 1,657,469	$ (1,716)
Increase (Decrease) in Partners' Capital [Roll Forward]
Issuance of Aimco Operating Partnership units	$ 50,151	50,151			50,151	50,151
Redemption of partnership units held by non-Aimco partners		(7,611)			(7,611)	(7,611)
Amortization of share-based compensation		5,261		4,481	780	5,261
Effect of changes in ownership of partnership units		(10,102)		(17,385)	7,283	(10,102)
Other, net		122		122		122
Net income		98,975		88,829	3,895	92,724	6,251
Change in accumulated other comprehensive income	(417)	(417)		(395)	(22)	(417)
Distributions paid to common unitholders		(125,531)		(119,558)	(5,973)	(125,531)
Distributions paid to preferred unitholders		(4,297)		(4,297)		(4,297)
Distributions paid to noncontrolling interests in consolidated real estate partnerships		(7,519)					(7,519)
Balances at Jun. 30, 2018		1,654,785	125,000	1,489,941	42,828	1,657,769	(2,984)
Balances at Mar. 31, 2018		1,662,647	125,000	1,545,190	(4,788)	1,665,402	(2,755)
Increase (Decrease) in Partners' Capital [Roll Forward]
Issuance of Aimco Operating Partnership units	50,151	50,151			50,151	50,151
Redemption of partnership units held by non-Aimco partners		(648)			(648)	(648)
Amortization of share-based compensation		2,273		1,850	423	2,273
Effect of changes in ownership of partnership units		805		101	704	805
Other, net		29		29		29
Net income		5,222		5,037	140	5,177	45
Change in accumulated other comprehensive income	(355)	(355)		(336)	(19)	(355)
Distributions paid to common unitholders		(62,916)		(59,781)	(3,135)	(62,916)
Distributions paid to preferred unitholders		(2,149)		(2,149)		(2,149)
Distributions paid to noncontrolling interests in consolidated real estate partnerships		(274)					(274)
Balances at Jun. 30, 2018		1,654,785	125,000	1,489,941	42,828	1,657,769	(2,984)
Balances at Dec. 31, 2018		1,763,641	125,000	1,574,419	67,189	1,766,608	(2,967)
Increase (Decrease) in Partners' Capital [Roll Forward]
Repurchases of common partnership units held by Aimco		(20,682)		(20,682)		(20,682)
Redemption of preferred units held by Aimco		(125,000)	(125,000)			(125,000)
Issuance of Aimco Operating Partnership units	3,034	3,034			3,034	3,034
Redemption of partnership units held by non-Aimco partners		(4,132)		3,423	(7,555)	(4,132)
Amortization of share-based compensation		5,224		3,632	1,592	5,224
Effect of changes in ownership of partnership units				(7,019)	5,977	(1,042)	1,042
Purchase of noncontrolling interest in consolidated real estate partnerships	(917)	(917)					(917)
Other, net		77		58		58	19
Net income		357,424		338,592	18,671	357,263	161
Change in accumulated other comprehensive income	77	77		72	5	77
Distributions paid to common unitholders		(125,514)		(125,514)		(125,514)
Common partnership units issued to common unitholders in special distribution		(516)		(516)		(516)
Distributions paid to preferred unitholders		(3,247)		(3,247)		(3,247)
Distributions paid to noncontrolling interests in consolidated real estate partnerships		(6,603)			(6,547)	(6,547)	(56)
Balances at Jun. 30, 2019		1,842,866		1,763,218	82,366	1,845,584	(2,718)
Balances at Mar. 31, 2019		1,960,272	125,000	1,758,636	79,493	1,963,129	(2,857)
Increase (Decrease) in Partners' Capital [Roll Forward]
Redemption of preferred units held by Aimco		(125,000)	$ (125,000)			(125,000)
Issuance of Aimco Operating Partnership units	3,034	3,034			3,034	3,034
Redemption of partnership units held by non-Aimco partners		(1,575)		3,423	(4,998)	(1,575)
Amortization of share-based compensation		1,986		1,190	796	1,986
Effect of changes in ownership of partnership units				(4,851)	3,809	(1,042)	1,042
Purchase of noncontrolling interest in consolidated real estate partnerships	(917)	(917)					(917)
Other, net		(1)		(1)		(1)
Net income		68,063		64,459	3,534	67,993	70
Change in accumulated other comprehensive income	$ 16	16		15	1	16
Distributions paid to common unitholders		(61,342)		(58,039)	(3,303)	(61,342)
Common partnership units issued to common unitholders in special distribution		(516)		(516)		(516)
Distributions paid to preferred unitholders		(1,098)		(1,098)		(1,098)
Distributions paid to noncontrolling interests in consolidated real estate partnerships		(56)					(56)
Balances at Jun. 30, 2019		$ 1,842,866		$ 1,763,218	$ 82,366	$ 1,845,584	$ (2,718)

Organization

Organization	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	Note 1 — Organization Apartment Investment and Management Company, or Aimco, is a Maryland corporation incorporated on January 10, 1994. Aimco is a self-administered and self-managed real estate investment trust, or REIT. AIMCO Properties, L.P., or the Aimco Operating Partnership, is a Delaware limited partnership formed on May 16, 1994, to conduct our business, which is focused on the ownership, management, redevelopment and some development of quality apartment communities located in several of the largest markets in the United States. Aimco, through its wholly-owned subsidiaries, AIMCO-GP, Inc. and AIMCO-LP Trust, owns a majority of the ownership interests in the Aimco Operating Partnership. Aimco conducts all of its business and owns all of its assets through the Aimco Operating Partnership. Interests in the Aimco Operating Partnership that are held by limited partners other than Aimco are referred to as OP Units. OP Units include common partnership units, which we refer to as common OP Units, as well as partnership preferred units, which we refer to as preferred OP Units. As of June 30, 2019, after elimination of units held by consolidated subsidiaries, the Aimco Operating Partnership had 158,463,083 common partnership units outstanding. As of June 30, 2019, Aimco owned 148,827,363 of the common partnership units, or 93.9%, of the Aimco Operating Partnership and Aimco had, an equal number of shares of its Class A Common Stock outstanding, which we refer to as Common Stock. Except as the context otherwise requires, “we,” “our” and “us” refer to Aimco, the Aimco Operating Partnership and their consolidated subsidiaries, collectively. As of June 30, 2019, we owned an equity interest in 128 apartment communities with 33,820 apartment homes in our portfolio. Our portfolio is diversified by both price point and geography and consists primarily of market rate apartment communities in which we own a substantial interest. We consolidated 124 of these apartment communities with 33,678 apartment homes.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Note 2 — Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations, although management believes the disclosures are adequate to prevent the information presented from being misleading. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. The balance sheets of Aimco and the Aimco Operating Partnership at December 31, 2018, have been derived from their respective audited financial statements at that date, but do not include all of the information and disclosures required by GAAP for complete financial statements. For further information, refer to the financial statements and notes thereto included in Aimco’s and the Aimco Operating Partnership’s combined Annual Report on Form 10-K for the year ended December 31, 2018. Except where indicated, the footnotes refer to both Aimco and the Aimco Operating Partnership. Principles of Consolidation Aimco’s accompanying condensed consolidated financial statements include the accounts of Aimco, the Aimco Operating Partnership, and their consolidated subsidiaries. The Aimco Operating Partnership’s condensed consolidated financial statements include the accounts of the Aimco Operating Partnership and its consolidated subsidiaries, please refer to Note 9. All significant intercompany balances and transactions have been eliminated in consolidation. Interests in the Aimco Operating Partnership that are held by limited partners other than Aimco are reflected in Aimco’s accompanying condensed consolidated balance sheets as noncontrolling interests in the Aimco Operating Partnership. Interests in partnerships consolidated by the Aimco Operating Partnership that are held by third parties are reflected in our accompanying condensed consolidated balance sheets as noncontrolling interests in consolidated real estate partnerships. Temporary Equity and Partners’ Capital The following table presents a reconciliation of the Aimco Operating Partnership’s preferred OP Units from December 31, 2018 to June 30, 2019. As described in Note 6, the preferred OP Units may be redeemed at the holder’s option, and are therefore presented within temporary equity in Aimco’s condensed consolidated balance sheets and within temporary capital in the Aimco Operating Partnership’s condensed consolidated balance sheets (in thousands): Balance, December 31, 2018 $ 101,291 Distributions to holders of preferred OP Units (3,867 ) Redemption of preferred OP Units and other (113 ) Net income attributable to preferred OP Units 3,867 Balance, June 30, 2019 $ 101,178 Use of Estimates The preparation of our condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts included in the financial statements and accompanying notes thereto. Actual results could differ from those estimates. Reclassifications and Revisions Certain items in the 2018 condensed consolidated financial statements have been reclassified to conform to the current presentation. We have also reclassified gain on dispositions of real estate and related income taxes, which were previously reported net on our condensed consolidated statements of operations, to now present gain on dispositions of real estate as a component of income before income tax benefit (expense) in our condensed consolidated statements of operations, as follows (in thousands): Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 As Previously Reported Adjustments As Revised As Previously Reported Adjustments As Revised Income tax benefit $ 4,395 $ (88 ) $ 4,307 $ 41,783 $ (2,959 ) $ 38,824 Gain on dispositions of real estate 222 88 310 50,546 2,959 53,505 During the six months ended June 30, 2019, Aimco and the Aimco Operating Partnership effected a reverse split of Common Stock and common partnership units, respectively, at a ratio of one share or unit for every 1.03119 shares or units outstanding on the date of effectiveness. The accounting guidance for recapitalization events requires that we revise Aimco’s equity and the Aimco Operating Partnership’s partners’ capital as if the reverse split had occurred at the beginning of the earliest period presented. As such, we have revised the outstanding share and unit counts, presentation of share and unit activity, and earnings per share and unit, as if the reverse split had occurred on December 31, 2017. Accounting Pronouncements Adopted in the Current Year Effective January 1, 2019, we adopted the lease accounting standard issued by the Financial Accounting Standards Board, or FASB. We elected to adopt the new standard using practical expedients that: do not require a look back to expired or existing contracts for embedded leases; allow us to retain the classification of existing leases; and allow us to retain the previous accounting for the initial direct costs of existing leases. Under the new standard, a contract is or contains a lease when it provides the right to control the use of an asset for a period of time in exchange for consideration. Lessor accounting remains largely unchanged. In our position as a lessor, we have elected the practical expedient that allows us to combine revenue attributable to nonlease components with associated lease components where the timing and pattern of transfer of the components are the same. As a result, we will combine rent payments with payments for other services we provide to our residents, including residents’ reimbursement of utility expenses. We have adopted the standard using the optional transition method that allows for prior reporting periods to remain as originally presented. Please refer to Note 4. In 2018, the Securities Exchange Commission, or SEC, amended its rules to eliminate, modify, or integrate into other SEC requirements certain disclosure rules. The amendments are intended to simplify compliance without significantly changing the total mix of information provided to investors. The amendments created a requirement to report changes in equity and dividends per share in interim periods on a comparative basis for both quarter-to-date and year-to-date periods presented. We have presented comparative interim statements of stockholders’ and partners’ equity in our condensed consolidated financial statements for the three and six months ended June 30, 2019 and 2018 . Recent Accounting Pronouncements In 2016, the FASB issued a new standard for accounting for financial instruments and credit losses thereon, which changes the method and timing of the recognition of credit losses on financial assets. The standard will require us to estimate and record credit losses over the life of a receivable at its inception. We have limited loans receivable and we invest in debt securities, which are subject to the new standard. Receivables related to operating leases are excluded from the new standard as they are subject to the lease accounting standard. This standard is required to be applied using a modified-retrospective approach and requires a cumulative-effect adjustment to retained earnings be recorded as of the date of adoption. The new standard is effective for us on January 1, 2020. We are currently in the process of completing our analysis of the impact of the standard and do not expect it to have a material effect on our financial position or results of operations.

Significant Transactions

Significant Transactions	6 Months Ended
	Jun. 30, 2019
Significant Transactions [Abstract]
Significant Transactions	Note 3 — Significant Transactions Acquisitions of Apartment Communities During the six months ended June 30, 2019, we acquired an apartment community located in Ardmore, Pennsylvania, a suburb of Philadelphia. Summarized information regarding this acquisition is set forth in the table below (dollars in thousands): Number of apartment homes 110 Purchase price (1) $ 66,725 Capitalized transaction costs $ 892 Acquisition costs allocated to land $ 4,929 Acquisition costs allocated to building and improvements $ 61,271 (1) The gross purchase price of the acquisition consisted of $32.8 million in cash, $30.9 million of assumed property-level debt and the issuance of 59,761 OP Units. In accordance with GAAP, the OP Units were valued at $50.77 per unit, the Aimco Common Stock closing price on April 5, 2019, the purchase date. Dispositions of Apartment Communities During the six months ended June 30, 2019, we sold apartment communities as summarized below (dollars in thousands): Apartment communities sold 8 Apartment homes sold 2,605 Gain on dispositions of real estate $ 355,783 The apartment communities sold were predominantly located outside of our primary markets or in lower-rated locations within our primary markets and had average revenues per apartment home significantly below those of our retained portfolio. In addition to the apartment communities we sold during the current period, from time to time we may be marketing for sale certain apartment communities that are inconsistent with our long-term investment strategy. At the end of each reporting period, we evaluate whether such communities meet the criteria to be classified as held for sale. As of June 30, 2019, no apartment communities were classified as held for sale.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Note 4 — Leases The majority of payments that we receive for our residential and commercial leases are fixed. We receive variable payments from our residents and commercial tenants primarily for utility and other expense reimbursements. For the three and six months ended June 30, 2019, our total lease income was comprised of the following amounts for all operating leases (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Fixed lease income $ 209,890 $ 425,471 Variable lease income 13,608 27,752 Total lease income $ 223,498 $ 453,223 In general, our commercial leases have options to extend for a certain period of time at the tenant’s option. Future minimum annual rental payments we will receive under commercial operating leases are as follows (in thousands): July 1, 2019 to December 31, 2019 $ 9,269 2020 16,589 2021 14,127 2022 13,637 2023 12,816 Thereafter 61,306 Total $ 127,744 Generally, our residential leases do not provide extension options and, as of June 30, 2019, have an average remaining term of 9.8 months. Future minimum rental payments pursuant to residential leases are excluded from the table above due to their shorter term. For leases in which we are the lessee, beginning in 2019, we recognize right of use assets and related lease liabilities on our consolidated balance sheets. Upon adoption of the accounting guidance for leases, we recognized right of use assets of $87.5 million, which are included in other assets on our condensed consolidated balance sheets. We also recognized the related lease liabilities of $79.7 million, which are included in accrued liabilities and other on our condensed consolidated balance sheets. We estimated the value of the lease liabilities using a discount rate equivalent to the rate Aimco would pay on a secured borrowing with similar terms to the lease. Substantially all of the payments under our ground and office leases are fixed. Rents for extension periods, when provided for in the lease, are generally adjusted to market value at the time the option is exercised; therefore, these extension periods were not included in our determination of the right of use asset and lease liability. For the three and six months ended June 30, 2019, our total lease cost for ground leases was $1.3 million and $4.5 million, respectively, and for office leases was $0.6 million and $1.3 million, respectively. As of June 30, 2019, the ground and office leases have weighted average remaining terms of 79.4 years and 9.6 years, respectively, and weighted average discount rates of 4.12% and 3.65%, respectively. Minimum annual rental payments under operating leases, reconciled to the lease liabilities included in accrued liabilities and other on our condensed consolidated balance sheets are as follows (in thousands): Office Lease Future Minimum Rent Ground Lease Future Minimum Rent Total Operating Lease Future Minimum Rent July 1, 2019 to December 31, 2019 $ 1,583 $ 1,057 $ 2,640 2020 2,806 2,350 5,156 2021 2,704 2,439 5,143 2022 2,561 2,492 5,053 2023 1,871 2,492 4,363 Thereafter 10,644 422,169 432,813 Total $ 22,169 $ 432,999 $ 455,168 Less: minimum payments for leases not yet commenced (17,849 ) — (17,849 ) Less: discount (308 ) (356,204 ) (356,512 ) Total lease liability $ 4,012 $ 76,795 $ 80,807

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 5 — Commitments and Contingencies Commitments In connection with our redevelopment, development and other capital additions activities, we have entered into various construction-related contracts and we have made commitments to complete redevelopment and development of certain apartment communities, pursuant to financing or other arrangements. As of June 30, 2019, our commitments related to these capital activities totaled approximately $235.9 million, most of which we expect to incur during the next 12 months. We enter into certain commitments for future purchases of goods and services in connection with the operations of our apartment communities. Those commitments generally have terms of one year or less and reflect expenditure levels comparable to our historical expenditures. Income Taxes In 2014, the Internal Revenue Service initiated an audit of the Aimco Operating Partnership’s 2011 and 2012 tax years. We do not believe the audit will have any material effect on our unrecognized tax benefits, financial condition or results of operations. Legal Matters In addition to the matters described below, we are a party to various legal actions and administrative proceedings arising in the ordinary course of business, some of which are covered by our general liability insurance program, and none of which we expect to have a material adverse effect on our consolidated financial condition, results of operations or cash flows. Environmental Various federal, state and local laws subject apartment community owners or operators to liability for management, and the costs of removal or remediation, of certain potentially hazardous materials that may be present in the land or buildings of an apartment community. Such laws often impose liability without regard to fault or whether the owner or operator knew of, or was responsible for, the presence of such materials. The presence of, or the failure to manage or remediate properly, these materials may adversely affect occupancy at such apartment communities as well as the ability to sell or finance such apartment communities. In addition, governmental agencies may bring claims for costs associated with investigation and remediation actions. Moreover, private plaintiffs may potentially make claims for investigation and remediation costs they incur or for personal injury, disease, disability or other infirmities related to the alleged presence of hazardous materials. In addition to potential environmental liabilities or costs associated with our current apartment communities, we may also be responsible for such liabilities or costs associated with communities we acquire or manage in the future, or apartment communities we no longer own or operate. We are engaged in discussions with the Environmental Protection Agency, or EPA, and the Indiana Department of Environmental Management, or IDEM, regarding contaminated groundwater near an Indiana apartment community that has not been owned by us since 2008. The contamination allegedly derives from a dry cleaner that operated on our former property, prior to our ownership. We undertook a voluntary remediation of the dry cleaner contamination under IDEM’s oversight. In 2016, EPA listed our former community and a number of residential communities in the vicinity on the National Priorities List, or NPL (i.e. as a Superfund site). In May 2018, we prevailed on our federal judicial appeal vacating the Superfund listing. We continue to work with EPA and IDEM to identify options for clean-up of the site. Although the outcome of these processes are uncertain, we do not expect their resolution to have a material adverse effect on our consolidated financial condition, results of operations or cash flows. We also have a contingent liability stemming from a property in Lake Tahoe, California, regarding environmental contamination from the historic operation of a dry cleaner. An entity owned by us was the former general partner of a now-dissolved partnership that previously owned a site that was used for dry cleaning. That entity and the current property owner have been remediating the dry cleaner site since 2009, under the oversight of the Lahontan Regional Water Quality Control Board, or Lahontan. In May 2017, Lahontan issued a final cleanup and abatement order that names four potentially-responsible parties, acknowledges that there may be additional responsible parties, and requires the named parties to perform additional groundwater investigation and corrective actions with respect to onsite and offsite contamination. We are appealing the final order while simultaneously complying with it. Although the outcome of this process is uncertain, we do not expect its resolution to have a material adverse effect on our consolidated financial condition, results of operations or cash flows. We have determined that our legal obligations to remove or remediate certain potentially hazardous materials may be conditional asset retirement obligations, as defined in GAAP. Except in limited circumstances where the asset retirement activities are expected to be performed in connection with a planned construction project or apartment community casualty, we believe that the fair value of our asset retirement obligations cannot be reasonably estimated due to significant uncertainties in the timing and manner of settlement of those obligations. Asset retirement obligations that are reasonably estimable as of June 30, 2019, are immaterial to our consolidated financial condition, results of operations and cash flows.

Earnings and Dividends per Shar

Earnings and Dividends per Share and Unit	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings per Share/Unit	Note 6 — Earnings and Dividends per Share and Unit Aimco and the Aimco Operating Partnership calculate basic earnings per common share and basic earnings per common unit based on the weighted average number of shares of Common Stock and common partnership units and excludes participating securities outstanding. Diluted earnings per share and diluted earnings per unit are calculated taking into consideration dilutive common stock and common partnership unit equivalents and dilutive convertible securities outstanding during the period. Our common stock and common partnership unit equivalents include options to purchase shares of Common Stock, which, if exercised, would result in Aimco’s issuance of additional shares and the Aimco Operating Partnership’s issuance to Aimco of additional common partnership units equal to the number of shares purchased under the options. These equivalents also include unvested total stockholder return, or TSR, restricted stock awards that do not meet the definition of participating securities, which would result in an increase in the number of shares of Common Stock and common partnership units outstanding equal to the number of shares that vest. Common partnership unit equivalents also include unvested long-term incentive partnership units. Securities with dilutive effect are included in the denominator for calculating diluted earnings per share and per unit during these periods. Our time-based restricted stock awards receive non-forfeitable dividends similar to shares of Common Stock and common partnership units prior to vesting. These dividends and distributions are not forfeited if the awards fail to vest. Therefore, the unvested shares and units related to these awards are participating securities. The effect of participating securities is included in basic and diluted earnings per share and unit computations using the two-class method of allocating distributed and undistributed earnings when the two-class method is more dilutive than the treasury method. The effect of dilutive securities included in the calculation of earnings per share, and securities not dilutive and excluded from the calculation of earnings per share, for the three and six months ended June 30, 2019 and 2018, were as follows (in thousands): Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Dilutive share equivalents outstanding 232 130 226 130 Dilutive partnership unit equivalents outstanding 381 126 359 129 Non-dilutive share equivalents outstanding — 184 — 184 Non-dilutive partnership unit equivalents outstanding — 421 — 421 Unvested restricted participating shares and partnership units 199 257 199 257 The Aimco Operating Partnership has various classes of preferred OP Units, which may be redeemed at the holder’s option. The Aimco Operating Partnership may redeem these units for cash, or at its option, shares of Common Stock. As of June 30, 2019, these preferred OP Units were potentially redeemable for approximately 2.0 million shares of Common Stock (based on the period end market price), or cash. The Aimco Operating Partnership has a redemption policy that requires cash settlement of redemption requests for the preferred OP Units, subject to limited exceptions. Accordingly, we have excluded these securities from earnings per share and unit computations and we expect to exclude them in future periods. During the three and six months ended June 30, 2019, we paid $0.39 and $2.41, respectively, in dividends and distributions per share and per unit. Of the $2.41 paid in dividends and distributions in 2019, $2.02 was paid in March and represents the per share and unit value of the special dividend and special distribution. The special dividend consisted of $67.1 million in cash, 4.5 million shares of Common Stock and $0.4 million of cash paid in lieu of issuing fractional shares. The special distribution consisted of $72.7 million in cash, 4.8 million common partnership units and $0.4 million of cash paid in lieu of issuing fractional units. During the three and six months ended June 30, 2018, we paid $0.38 and $0.76, respectively, in dividends and distributions per share and per unit.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 7 — Fair Value Measurements Recurring Fair Value Measurements We hold several positions in the securitization trust that holds certain of our property debt and pay interest currently. We also hold the first loss position in the securitization trust, which accrues interest over the term of the investment. These investments were acquired at a discount to face value and we are accreting the discount to the $100.9 million face value of the investments through interest income using the effective interest method over the remaining expected term of the investments, which, as of June 30, 2019, was approximately 1.9 years. We measure at fair value, on a recurring basis, our investments in the securitization trust, which we classify as available for sale, or AFS, debt securities. Our investments in AFS debt securities are included in other assets in the accompanying condensed consolidated balance sheets. Our amortized cost basis for AFS debt securities, which represents the original cost adjusted for interest accretion less interest payments received, was $86.7 million and $83.6 million as of June 30, 2019 and December 31, 2018, respectively. We estimated the fair value of these investments to be $91.7 million and $88.5 million as of June 30, 2019 and December 31, 2018, respectively. Our investments in AFS debt securities are classified within Level 2 of the GAAP fair value hierarchy. We estimate the fair value of these investments using an income and market approach with primarily observable inputs, including yields and other information regarding similar types of investments, and adjusted for certain unobservable inputs specific to these investments. The fair value of the positions that pay interest currently typically moves in an inverse relationship with movements in interest rates. The fair value of the first loss position is primarily correlated to collateral quality and demand for similar subordinate commercial mortgage-backed securities. Fair Value Disclosures We believe that the carrying value of the consolidated amounts of cash and cash equivalents, receivables and payables approximated their fair value as of June 30, 2019 and December 31, 2018, due to their relatively short-term nature and high probability of realization. The carrying amounts of longer term seller financing notes receivable approximated their estimated fair value as of June 30, 2019 and December 31, 2018. The carrying amount of our total indebtedness was approximately $4.0 billion as compared to an estimated fair value of $4.1 billion as of June 30, 2019. The carrying amount of our total indebtedness approximated its estimated fair value at December 31, 2018. We estimate the fair value of our seller financing notes and our consolidated debt using an income and market approach, including comparison of the contractual terms to observable and unobservable inputs such as market interest rate risk spreads, contractual interest rates, remaining periods to maturity, collateral quality and loan to value ratios on similarly encumbered apartment communities within our portfolio. We classify the fair value of debt and seller financing notes within Level 3 of the GAAP valuation hierarchy based on the significance of certain of the unobservable inputs used to estimate its fair value.

Business Segments

Business Segments	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Business Segments	Note 8 — Business Segments In 2019, as a result of the 2018 sale of the Asset Management business, we revised the information regularly reviewed by our chief executive officer, who is our chief operating decision maker, to assess our operating performance. We have determined we have four segments: Same Store, Redevelopment and Development, Acquisition, and Other Real Estate. Our Same Store segment includes communities that have reached a stabilized level of operations as of the beginning of a two-year comparable period and maintained it throughout the current and comparable prior year, and are not expected to be sold within 12 months. Our Redevelopment and Development segment includes apartment communities that are currently under construction that have not achieved a stabilized level of operations, and those that have been completed in recent years that have not achieved and maintained stabilized operations for both the current and comparable prior year. Our Acquisition segment includes apartment communities that we have acquired since the beginning of a two-year comparable period. Our Other Real Estate segment primarily includes apartment communities that are subject to limitations on rent increases and communities that we expect to sell within 12 months but do not yet meet the criteria to be classified as held for sale. Our chief operating decision maker uses proportionate property net operating income to assess the operating performance of our apartment communities. Proportionate property net operating income is defined as our share of rental and other property revenue less our share of property operating expenses for consolidated apartment communities. We exclude from rental and other property revenues the amount of utility costs reimbursed by residents and reflect such amount as a reduction of the related utility expense within property operating expenses in our evaluation of segment results. In our condensed consolidated statements of operations, utility reimbursements are included in rental and other property revenues, in accordance with GAAP. As of June 30, 2019, our Same Store segment included 95 consolidated apartment communities with 27,640 apartment homes; our Redevelopment and Development segment included seven consolidated apartment communities with 3,134 apartment homes; our Acquisition segment included seven consolidated apartment communities with 1,590 apartment homes; and our Other Real Estate segment included 15 apartment communities with 1,315 apartment homes. The following tables present the revenues, proportionate property net operating income and income before income tax benefit (expense) of our segments on a proportionate basis and excluding our proportionate share of four communities with 142 apartment homes, which we do not consolidate, and amounts related to apartment communities sold as of June 30, 2019 for the three and six months ended June 30, 2019 and 2018 (in thousands): Same Store Redevelopment and Development Acquisition Other Real Estate Proportionate and Other Adjustments (1) Corporate and Amounts Not Allocated to Segments (2) Consolidated Three months ended June 30, 2019: Total revenues $ 176,375 $ 19,166 $ 10,237 $ 9,275 $ 8,255 $ 892 $ 224,200 Property operating expenses attributable to real estate 47,169 7,030 2,974 3,904 7,725 7,037 75,839 Other operating expenses not allocated to segments (3) — — — — — 108,257 108,257 Total operating expenses 47,169 7,030 2,974 3,904 7,725 115,294 184,096 Proportionate property net operating income 129,206 12,136 7,263 5,371 530 (114,402 ) 40,104 Other items included in income before income tax benefit (4) — — — — — 28,065 28,065 Income before income tax benefit $ 129,206 $ 12,136 $ 7,263 $ 5,371 $ 530 $ (86,337 ) $ 68,169 Same Store Redevelopment and Development Acquisition Other Real Estate Proportionate and Other Adjustments (1) Corporate and Amounts Not Allocated to Segments (2) Consolidated Three months ended June 30, 2018: Total revenues $ 169,902 $ 18,482 $ 6,358 $ 9,378 $ 7,640 $ 38,427 $ 250,187 Property operating expenses attributable to real estate 46,352 6,936 1,875 3,679 7,116 10,073 76,031 Other operating expenses not allocated to segments (3) — — — — — 124,795 124,795 Total operating expenses 46,352 6,936 1,875 3,679 7,116 134,868 200,826 Proportionate property net operating income 123,550 11,546 4,483 5,699 524 (96,441 ) 49,361 Other items included in income before income tax benefit (4) — — — — — (46,512 ) (46,512 ) Income before income tax benefit $ 123,550 $ 11,546 $ 4,483 $ 5,699 $ 524 $ (142,953 ) $ 2,849 Same Store Redevelopment and Development Acquisition Other Real Estate Proportionate and Other Adjustments (1) Corporate and Amounts Not Allocated to Segments (2) Consolidated Six months ended June 30, 2019: Total revenues $ 350,494 $ 39,516 $ 20,230 $ 18,741 $ 16,884 $ 8,570 $ 454,435 Property operating expenses attributable to real estate 93,904 14,317 5,827 7,790 15,792 17,393 155,023 Other operating expenses not allocated to segments (3) — — — — — 217,894 217,894 Total operating expenses 93,904 14,317 5,827 7,790 15,792 235,287 372,917 Proportionate property net operating income 256,590 25,199 14,403 10,951 1,092 (226,717 ) 81,518 Other items included in income before income tax expense (4) — — — — — 280,927 280,927 Income before income tax expense $ 256,590 $ 25,199 $ 14,403 $ 10,951 $ 1,092 $ 54,210 $ 362,445 Same Store Redevelopment and Development Acquisition Other Real Estate Proportionate and Other Adjustments (1) Corporate and Amounts Not Allocated to Segments (2) Consolidated Six months ended June 30, 2018: Total revenues $ 336,931 $ 36,560 $ 7,937 $ 18,689 $ 15,767 $ 82,023 $ 497,907 Property operating expenses attributable to real estate 92,659 13,436 2,398 7,525 14,734 23,566 154,318 Other operating expenses not allocated to segments (3) — — — — — 240,851 240,851 Total operating expenses 92,659 13,436 2,398 7,525 14,734 264,417 395,169 Proportionate property net operating income 244,272 23,124 5,539 11,164 1,033 (182,394 ) 102,738 Other items included in income before income tax benefit (4) — — — — — (38,716 ) (38,716 ) Income before income tax benefit $ 244,272 $ 23,124 $ 5,539 $ 11,164 $ 1,033 $ (221,110 ) $ 64,022 (1) Represents adjustments for the noncontrolling interests in consolidated real estate partnerships’ share of the results of consolidated apartment communities in our segments, which are included in the related consolidated amounts, but excluded from proportionate property net operating income for our segment evaluation. Also includes the reclassification of utility reimbursements from revenues to property operating expenses for the purpose of evaluating segment results. Utility reimbursements are included in rental and other property revenues in our condensed consolidated statements of operations prepared in accordance with GAAP. (2) Includes the operating results of apartment communities sold during the periods shown or held for sale at the end of the period, if any, and the operating results of apartment communities owned by consolidated partnerships served by our Asset Management business prior to its sale in July 2018. Corporate and Amounts Not Allocated to Segments also includes property management expenses and casualty gains and losses, which are included in consolidated property operating expenses and are not part of our segment performance measure. (3) Other operating expenses not allocated to segments consists of property operating expenses of partnerships served by our Asset Management business prior to its sale in July 2018, depreciation and amortization, general and administrative expenses and other operating expenses, which are not included in our measure of segment performance. (4) Other items included in income before income tax benefit (expense) primarily consists of gain on dispositions of real estate and interest expense. The assets of our segments and the consolidated assets not allocated to our segments were as follows (in thousands): June 30, 2019 December 31, 2018 Same Store $ 4,110,917 $ 4,131,494 Redevelopment and Development 852,177 792,126 Acquisition 627,109 507,190 Other Real Estate 327,326 327,099 Corporate and other assets (1) 323,275 432,095 Total consolidated assets $ 6,240,804 $ 6,190,004 (1) Includes the assets not allocated to our segments, primarily corporate assets and assets of apartment communities sold as of June 30, 2019. For the six months ended June 30, 2019 and 2018, capital additions related to our segments were as follows (in thousands): 2019 2018 Same Store $ 73,242 $ 61,581 Redevelopment and Development 84,782 86,202 Acquisition 15,056 3,985 Other Real Estate 6,063 4,285 Total capital additions $ 179,143 $ 156,053

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Variable Interest Entities	Note 9 — Variable Interest Entities Generally, a variable interest entity, or VIE, is a legal entity in which the equity investors do not have the characteristics of a controlling financial interest or the equity investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support. A limited partnership is considered a VIE when the majority of the limited partners unrelated to the general partner possess neither the right to remove the general partner without cause, nor certain rights to participate in the decisions that most significantly affect the financial results of the partnership. In determining whether we are the primary beneficiary of a VIE, we consider qualitative and quantitative factors, including, but not limited to: which activities most significantly impact the VIE’s economic performance and which party controls such activities; the amount and characteristics of our investment; the obligation or likelihood for us or other investors to provide financial support; and the similarity with and significance to our business activities and the business activities of the other investors. Significant judgments related to these determinations include estimates about the current and future fair values and performance of real estate held by these VIEs and general market conditions. Aimco consolidates the Aimco Operating Partnership, a VIE of which Aimco is the primary beneficiary. Aimco, through the Aimco Operating Partnership, consolidates all VIEs for which the Aimco Operating Partnership is the primary beneficiary. All of the VIEs the Aimco Operating Partnership consolidates own interests in one or more apartment communities and are typically structured to generate a return for their partners through the operation and ultimate sale of the communities. The Aimco Operating Partnership is the primary beneficiary in the limited partnerships in which it is the sole decision maker and has a substantial economic interest. The table below summarizes information regarding VIEs consolidated by the Aimco Operating Partnership: June 30, 2019 December 31, 2018 VIEs with interests in apartment communities 7 9 Apartment communities owned by VIEs 7 9 Apartment homes in communities owned by VIEs 3,183 3,592 Assets of the Aimco Operating Partnership’s consolidated VIEs must first be used to settle the liabilities of such consolidated VIEs. These consolidated VIEs’ creditors do not have recourse to the general credit of the Aimco Operating Partnership. Assets and liabilities of consolidated VIEs are summarized in the table below (in thousands): June 30, 2019 December 31, 2018 Assets Net real estate $ 405,174 $ 488,127 Cash and cash equivalents 7,618 15,416 Restricted cash 3,106 4,461 Other assets 27,144 3,973 Liabilities Non-recourse property debt secured by Aimco communities, net 177,825 322,685 Accrued liabilities and other 35,946 13,576

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted in accordance with such rules and regulations, although management believes the disclosures are adequate to prevent the information presented from being misleading. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019. The balance sheets of Aimco and the Aimco Operating Partnership at December 31, 2018, have been derived from their respective audited financial statements at that date, but do not include all of the information and disclosures required by GAAP for complete financial statements. For further information, refer to the financial statements and notes thereto included in Aimco’s and the Aimco Operating Partnership’s combined Annual Report on Form 10-K for the year ended December 31, 2018. Except where indicated, the footnotes refer to both Aimco and the Aimco Operating Partnership.
Principles of Consolidation	Principles of Consolidation Aimco’s accompanying condensed consolidated financial statements include the accounts of Aimco, the Aimco Operating Partnership, and their consolidated subsidiaries. The Aimco Operating Partnership’s condensed consolidated financial statements include the accounts of the Aimco Operating Partnership and its consolidated subsidiaries, please refer to Note 9. All significant intercompany balances and transactions have been eliminated in consolidation. Interests in the Aimco Operating Partnership that are held by limited partners other than Aimco are reflected in Aimco’s accompanying condensed consolidated balance sheets as noncontrolling interests in the Aimco Operating Partnership. Interests in partnerships consolidated by the Aimco Operating Partnership that are held by third parties are reflected in our accompanying condensed consolidated balance sheets as noncontrolling interests in consolidated real estate partnerships.
Temporary Equity and Partners' Capital	Temporary Equity and Partners’ Capital The following table presents a reconciliation of the Aimco Operating Partnership’s preferred OP Units from December 31, 2018 to June 30, 2019. As described in Note 6, the preferred OP Units may be redeemed at the holder’s option, and are therefore presented within temporary equity in Aimco’s condensed consolidated balance sheets and within temporary capital in the Aimco Operating Partnership’s condensed consolidated balance sheets (in thousands): Balance, December 31, 2018 $ 101,291 Distributions to holders of preferred OP Units (3,867 ) Redemption of preferred OP Units and other (113 ) Net income attributable to preferred OP Units 3,867 Balance, June 30, 2019 $ 101,178
Use of Estimates	Use of Estimates The preparation of our condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts included in the financial statements and accompanying notes thereto. Actual results could differ from those estimates.
Accounting Pronouncements Adopted in the Current Year and Recent Accounting Pronouncements	Accounting Pronouncements Adopted in the Current Year Effective January 1, 2019, we adopted the lease accounting standard issued by the Financial Accounting Standards Board, or FASB. We elected to adopt the new standard using practical expedients that: do not require a look back to expired or existing contracts for embedded leases; allow us to retain the classification of existing leases; and allow us to retain the previous accounting for the initial direct costs of existing leases. Under the new standard, a contract is or contains a lease when it provides the right to control the use of an asset for a period of time in exchange for consideration. Lessor accounting remains largely unchanged. In our position as a lessor, we have elected the practical expedient that allows us to combine revenue attributable to nonlease components with associated lease components where the timing and pattern of transfer of the components are the same. As a result, we will combine rent payments with payments for other services we provide to our residents, including residents’ reimbursement of utility expenses. We have adopted the standard using the optional transition method that allows for prior reporting periods to remain as originally presented. Please refer to Note 4. In 2018, the Securities Exchange Commission, or SEC, amended its rules to eliminate, modify, or integrate into other SEC requirements certain disclosure rules. The amendments are intended to simplify compliance without significantly changing the total mix of information provided to investors. The amendments created a requirement to report changes in equity and dividends per share in interim periods on a comparative basis for both quarter-to-date and year-to-date periods presented. We have presented comparative interim statements of stockholders’ and partners’ equity in our condensed consolidated financial statements for the three and six months ended June 30, 2019 and 2018 . Recent Accounting Pronouncements In 2016, the FASB issued a new standard for accounting for financial instruments and credit losses thereon, which changes the method and timing of the recognition of credit losses on financial assets. The standard will require us to estimate and record credit losses over the life of a receivable at its inception. We have limited loans receivable and we invest in debt securities, which are subject to the new standard. Receivables related to operating leases are excluded from the new standard as they are subject to the lease accounting standard. This standard is required to be applied using a modified-retrospective approach and requires a cumulative-effect adjustment to retained earnings be recorded as of the date of adoption. The new standard is effective for us on January 1, 2020. We are currently in the process of completing our analysis of the impact of the standard and do not expect it to have a material effect on our financial position or results of operations.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Reconciliation of consolidated temporary equity accounts	The following table presents a reconciliation of the Aimco Operating Partnership’s preferred OP Units from December 31, 2018 to June 30, 2019. As described in Note 6, the preferred OP Units may be redeemed at the holder’s option, and are therefore presented within temporary equity in Aimco’s condensed consolidated balance sheets and within temporary capital in the Aimco Operating Partnership’s condensed consolidated balance sheets (in thousands): Balance, December 31, 2018 $ 101,291 Distributions to holders of preferred OP Units (3,867 ) Redemption of preferred OP Units and other (113 ) Net income attributable to preferred OP Units 3,867 Balance, June 30, 2019 $ 101,178
Reclassifications to conform to the current presentation	We have also reclassified gain on dispositions of real estate and related income taxes, which were previously reported net on our condensed consolidated statements of operations, to now present gain on dispositions of real estate as a component of income before income tax benefit (expense) in our condensed consolidated statements of operations, as follows (in thousands): Three Months Ended June 30, 2018 Six Months Ended June 30, 2018 As Previously Reported Adjustments As Revised As Previously Reported Adjustments As Revised Income tax benefit $ 4,395 $ (88 ) $ 4,307 $ 41,783 $ (2,959 ) $ 38,824 Gain on dispositions of real estate 222 88 310 50,546 2,959 53,505

Significant Transactions (Table

Significant Transactions (Tables)	6 Months Ended
	Jun. 30, 2019
Significant Transactions [Abstract]
Summarized Information Regarding Acquisition	Summarized information regarding this acquisition is set forth in the table below (dollars in thousands): Number of apartment homes 110 Purchase price (1) $ 66,725 Capitalized transaction costs $ 892 Acquisition costs allocated to land $ 4,929 Acquisition costs allocated to building and improvements $ 61,271 (1) The gross purchase price of the acquisition consisted of $32.8 million in cash, $30.9 million of assumed property-level debt and the issuance of 59,761 OP Units. In accordance with GAAP, the OP Units were valued at $50.77 per unit, the Aimco Common Stock closing price on April 5, 2019, the purchase date.
Summary of Apartment Community Dispositions	During the six months ended June 30, 2019, we sold apartment communities as summarized below (dollars in thousands): Apartment communities sold 8 Apartment homes sold 2,605 Gain on dispositions of real estate $ 355,783

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Lease income for operating leases	For the three and six months ended June 30, 2019, our total lease income was comprised of the following amounts for all operating leases (in thousands): Three Months Ended June 30, 2019 Six Months Ended June 30, 2019 Fixed lease income $ 209,890 $ 425,471 Variable lease income 13,608 27,752 Total lease income $ 223,498 $ 453,223
Future minimum annual rental payments receivable under commercial operating leases	Future minimum annual rental payments we will receive under commercial operating leases are as follows (in thousands) July 1, 2019 to December 31, 2019 $ 9,269 2020 16,589 2021 14,127 2022 13,637 2023 12,816 Thereafter 61,306 Total $ 127,744
Minimum annual rental payments under operating leases	Minimum annual rental payments under operating leases, reconciled to the lease liabilities included in accrued liabilities and other on our condensed consolidated balance sheets are as follows (in thousands): Office Lease Future Minimum Rent Ground Lease Future Minimum Rent Total Operating Lease Future Minimum Rent July 1, 2019 to December 31, 2019 $ 1,583 $ 1,057 $ 2,640 2020 2,806 2,350 5,156 2021 2,704 2,439 5,143 2022 2,561 2,492 5,053 2023 1,871 2,492 4,363 Thereafter 10,644 422,169 432,813 Total $ 22,169 $ 432,999 $ 455,168 Less: minimum payments for leases not yet commenced (17,849 ) — (17,849 ) Less: discount (308 ) (356,204 ) (356,512 ) Total lease liability $ 4,012 $ 76,795 $ 80,807

Earnings and Dividends per Sh_2

Earnings and Dividends per Share and Unit (Tables)	6 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Effect of Dilutive Securities and Securities not Dilutive	The effect of dilutive securities included in the calculation of earnings per share, and securities not dilutive and excluded from the calculation of earnings per share, for the three and six months ended June 30, 2019 and 2018, were as follows (in thousands): Three Months Ended Six Months Ended June 30, 2019 June 30, 2018 June 30, 2019 June 30, 2018 Dilutive share equivalents outstanding 232 130 226 130 Dilutive partnership unit equivalents outstanding 381 126 359 129 Non-dilutive share equivalents outstanding — 184 — 184 Non-dilutive partnership unit equivalents outstanding — 421 — 421 Unvested restricted participating shares and partnership units 199 257 199 257

Business Segments (Tables)

Business Segments (Tables)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Summary information for the reportable segments	The following tables present the revenues, proportionate property net operating income and income before income tax benefit (expense) of our segments on a proportionate basis and excluding our proportionate share of four communities with 142 apartment homes, which we do not consolidate, and amounts related to apartment communities sold as of June 30, 2019 for the three and six months ended June 30, 2019 and 2018 (in thousands): Same Store Redevelopment and Development Acquisition Other Real Estate Proportionate and Other Adjustments (1) Corporate and Amounts Not Allocated to Segments (2) Consolidated Three months ended June 30, 2019: Total revenues $ 176,375 $ 19,166 $ 10,237 $ 9,275 $ 8,255 $ 892 $ 224,200 Property operating expenses attributable to real estate 47,169 7,030 2,974 3,904 7,725 7,037 75,839 Other operating expenses not allocated to segments (3) — — — — — 108,257 108,257 Total operating expenses 47,169 7,030 2,974 3,904 7,725 115,294 184,096 Proportionate property net operating income 129,206 12,136 7,263 5,371 530 (114,402 ) 40,104 Other items included in income before income tax benefit (4) — — — — — 28,065 28,065 Income before income tax benefit $ 129,206 $ 12,136 $ 7,263 $ 5,371 $ 530 $ (86,337 ) $ 68,169 Same Store Redevelopment and Development Acquisition Other Real Estate Proportionate and Other Adjustments (1) Corporate and Amounts Not Allocated to Segments (2) Consolidated Three months ended June 30, 2018: Total revenues $ 169,902 $ 18,482 $ 6,358 $ 9,378 $ 7,640 $ 38,427 $ 250,187 Property operating expenses attributable to real estate 46,352 6,936 1,875 3,679 7,116 10,073 76,031 Other operating expenses not allocated to segments (3) — — — — — 124,795 124,795 Total operating expenses 46,352 6,936 1,875 3,679 7,116 134,868 200,826 Proportionate property net operating income 123,550 11,546 4,483 5,699 524 (96,441 ) 49,361 Other items included in income before income tax benefit (4) — — — — — (46,512 ) (46,512 ) Income before income tax benefit $ 123,550 $ 11,546 $ 4,483 $ 5,699 $ 524 $ (142,953 ) $ 2,849 Same Store Redevelopment and Development Acquisition Other Real Estate Proportionate and Other Adjustments (1) Corporate and Amounts Not Allocated to Segments (2) Consolidated Six months ended June 30, 2019: Total revenues $ 350,494 $ 39,516 $ 20,230 $ 18,741 $ 16,884 $ 8,570 $ 454,435 Property operating expenses attributable to real estate 93,904 14,317 5,827 7,790 15,792 17,393 155,023 Other operating expenses not allocated to segments (3) — — — — — 217,894 217,894 Total operating expenses 93,904 14,317 5,827 7,790 15,792 235,287 372,917 Proportionate property net operating income 256,590 25,199 14,403 10,951 1,092 (226,717 ) 81,518 Other items included in income before income tax expense (4) — — — — — 280,927 280,927 Income before income tax expense $ 256,590 $ 25,199 $ 14,403 $ 10,951 $ 1,092 $ 54,210 $ 362,445 Same Store Redevelopment and Development Acquisition Other Real Estate Proportionate and Other Adjustments (1) Corporate and Amounts Not Allocated to Segments (2) Consolidated Six months ended June 30, 2018: Total revenues $ 336,931 $ 36,560 $ 7,937 $ 18,689 $ 15,767 $ 82,023 $ 497,907 Property operating expenses attributable to real estate 92,659 13,436 2,398 7,525 14,734 23,566 154,318 Other operating expenses not allocated to segments (3) — — — — — 240,851 240,851 Total operating expenses 92,659 13,436 2,398 7,525 14,734 264,417 395,169 Proportionate property net operating income 244,272 23,124 5,539 11,164 1,033 (182,394 ) 102,738 Other items included in income before income tax benefit (4) — — — — — (38,716 ) (38,716 ) Income before income tax benefit $ 244,272 $ 23,124 $ 5,539 $ 11,164 $ 1,033 $ (221,110 ) $ 64,022 (1) Represents adjustments for the noncontrolling interests in consolidated real estate partnerships’ share of the results of consolidated apartment communities in our segments, which are included in the related consolidated amounts, but excluded from proportionate property net operating income for our segment evaluation. Also includes the reclassification of utility reimbursements from revenues to property operating expenses for the purpose of evaluating segment results. Utility reimbursements are included in rental and other property revenues in our condensed consolidated statements of operations prepared in accordance with GAAP. (2) Includes the operating results of apartment communities sold during the periods shown or held for sale at the end of the period, if any, and the operating results of apartment communities owned by consolidated partnerships served by our Asset Management business prior to its sale in July 2018. Corporate and Amounts Not Allocated to Segments also includes property management expenses and casualty gains and losses, which are included in consolidated property operating expenses and are not part of our segment performance measure. (3) Other operating expenses not allocated to segments consists of property operating expenses of partnerships served by our Asset Management business prior to its sale in July 2018, depreciation and amortization, general and administrative expenses and other operating expenses, which are not included in our measure of segment performance. (4) Other items included in income before income tax benefit (expense) primarily consists of gain on dispositions of real estate and interest expense.
Reconciliation of Assets from Segment to Consolidated	The assets of our segments and the consolidated assets not allocated to our segments were as follows (in thousands): June 30, 2019 December 31, 2018 Same Store $ 4,110,917 $ 4,131,494 Redevelopment and Development 852,177 792,126 Acquisition 627,109 507,190 Other Real Estate 327,326 327,099 Corporate and other assets (1) 323,275 432,095 Total consolidated assets $ 6,240,804 $ 6,190,004 (1) Includes the assets not allocated to our segments, primarily corporate assets and assets of apartment communities sold as of June 30, 2019.
Capital additions related to segments	For the six months ended June 30, 2019 and 2018, capital additions related to our segments were as follows (in thousands): 2019 2018 Same Store $ 73,242 $ 61,581 Redevelopment and Development 84,782 86,202 Acquisition 15,056 3,985 Other Real Estate 6,063 4,285 Total capital additions $ 179,143 $ 156,053

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The table below summarizes information regarding VIEs consolidated by the Aimco Operating Partnership: June 30, 2019 December 31, 2018 VIEs with interests in apartment communities 7 9 Apartment communities owned by VIEs 7 9 Apartment homes in communities owned by VIEs 3,183 3,592 Assets of the Aimco Operating Partnership’s consolidated VIEs must first be used to settle the liabilities of such consolidated VIEs. These consolidated VIEs’ creditors do not have recourse to the general credit of the Aimco Operating Partnership. Assets and liabilities of consolidated VIEs are summarized in the table below (in thousands): June 30, 2019 December 31, 2018 Assets Net real estate $ 405,174 $ 488,127 Cash and cash equivalents 7,618 15,416 Restricted cash 3,106 4,461 Other assets 27,144 3,973 Liabilities Non-recourse property debt secured by Aimco communities, net 177,825 322,685 Accrued liabilities and other 35,946 13,576

Organization (Details Textual)

Organization (Details Textual)	6 Months Ended
	Jun. 30, 2019Propertyapartment_homeshares
Organization [Line Items]
Common partnership units and equivalents outstanding | shares	148,827,363
Percentage of the Aimco Operating Partnership's common partnership units and equivalents owned by Aimco	93.90%
Partially Owned Properties [Member]
Organization [Line Items]
Number of apartment communities | Property	128
Number of apartment homes in apartment communities | apartment_home	33,820
Wholly And Partially Owned Consolidated Properties [Member]
Organization [Line Items]
Number of apartment communities | Property	124
Number of apartment homes in apartment communities | apartment_home	33,678
AIMCO PROPERTIES, L.P [Member]
Organization [Line Items]
Common partnership units and equivalents outstanding | shares	158,463,083

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance, December 31, 2018	$ 101,291
Balance, June 30, 2019	101,178
AIMCO PROPERTIES, L.P [Member]
Increase (Decrease) in Temporary Equity [Roll Forward]
Balance, December 31, 2018	101,291
Distributions to holders of preferred OP Units	(3,867)
Redemption of preferred OP Units and other	(113)
Net income attributable to preferred OP Units	3,867
Balance, June 30, 2019	$ 101,178

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income tax benefit	$ 1,827	$ 4,307	$ (1,154)	$ 38,824
Gain on dispositions of real estate	$ 64,310	310	$ 355,783	53,505
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income tax benefit		4,395		41,783
Gain on dispositions of real estate		222		50,546
Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income tax benefit		(88)		(2,959)
Gain on dispositions of real estate		$ 88		$ 2,959

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies (Details Textual)	6 Months Ended
	Jun. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Equity reverse stock split	0.0103119

Significant Transactions - Summ

Significant Transactions - Summarized Information Regarding Acquisition (Details) - Philadelphia Acquisition $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)apartment_home
Business Acquisition [Line Items]
Number of apartment homes | apartment_home	110
Purchase price	$ 66,725
Capitalized transaction costs	892
Acquisition costs allocated to land	4,929
Acquisition costs allocated to building and improvements	$ 61,271

Significant Transactions - Su_2

Significant Transactions - Summarized Information Regarding Acquisition (Parenthetical) (Details) - Philadelphia Acquisition $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares
Business Acquisition [Line Items]
Cash paid in acquisition	$ 32.8
Property-level debt assumed in acquisition	$ 30.9
Issuance of OP Units | shares	59,761
Share price per unit (in dollars per share) | $ / shares	$ 50.77

Significant Transactions - Su_3

Significant Transactions - Summary of Apartment Community Dispositions (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)Propertyapartment_homeCommunity	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)Propertyapartment_homeCommunity	Jun. 30, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on dispositions of real estate | $	$ 64,310	$ 310	$ 355,783	$ 53,505
Wholly And Partially Owned Consolidated Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Apartment communities sold | Property	124		124
Apartment homes sold | apartment_home	33,678		33,678
Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | Wholly And Partially Owned Consolidated Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Apartment communities sold | Property	8		8
Apartment homes sold | apartment_home	2,605		2,605
Gain on dispositions of real estate | $			$ 355,783
Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Apartment communities sold | Community	0		0

Leases - Lease Income for Opera

Leases - Lease Income for Operating Leases (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Fixed lease income	$ 209,890	$ 425,471
Variable lease income	13,608	27,752
Total lease income	$ 223,498	$ 453,223

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Jan. 01, 2019
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Lease liabilities	$ 80,807	$ 80,807
ASU 2016-02
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Right of use assets			$ 87,500
Lease liabilities			$ 79,700
Commercial lease
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Lease, existence of option to extend		true
Residential Lease
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Lease, existence of option to extend		false
Weighted average remaining term	9 months 24 days	9 months 24 days
Lease, option to extend		Generally, our residential leases do not provide extension options
Ground Lease
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Weighted average remaining term	79 years 4 months 24 days	79 years 4 months 24 days
Lease liabilities	$ 76,795	$ 76,795
Lease cost	$ 1,300	$ 4,500
Operating lease, weighted average discount rate, percent	4.12%	4.12%
Office Lease
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Weighted average remaining term	9 years 7 months 6 days	9 years 7 months 6 days
Lease liabilities	$ 4,012	$ 4,012
Lease cost	$ 600	$ 1,300
Operating lease, weighted average discount rate, percent	3.65%	3.65%

Leases - Future Minimum Annual

Leases - Future Minimum Annual Payments Receivable Under Commercial Operating Leases (Details) $ in Thousands	Jun. 30, 2019USD ($)
Leases [Abstract]
July 1, 2019 to December 31, 2019	$ 9,269
2020	16,589
2021	14,127
2022	13,637
2023	12,816
Thereafter	61,306
Total	$ 127,744

Leases - Minimum Annual Rental

Leases - Minimum Annual Rental Payments Under Operating Leases (Details) $ in Thousands	Jun. 30, 2019USD ($)
Lessee Lease Description [Line Items]
July 1, 2019 to December 31, 2019	$ 2,640
2020	5,156
2021	5,143
2022	5,053
2023	4,363
Thereafter	432,813
Total	455,168
Less: minimum payments for leases not yet commenced	(17,849)
Less: discount	(356,512)
Total lease liability	$ 80,807
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesAndOtherLiabilities
Office Lease Future Minimum Rent
Lessee Lease Description [Line Items]
July 1, 2019 to December 31, 2019	$ 1,583
2020	2,806
2021	2,704
2022	2,561
2023	1,871
Thereafter	10,644
Total	22,169
Less: minimum payments for leases not yet commenced	(17,849)
Less: discount	(308)
Total lease liability	$ 4,012
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesAndOtherLiabilities
Ground Lease Future Minimum Rent
Lessee Lease Description [Line Items]
July 1, 2019 to December 31, 2019	$ 1,057
2020	2,350
2021	2,439
2022	2,492
2023	2,492
Thereafter	422,169
Total	432,999
Less: discount	(356,204)
Total lease liability	$ 76,795
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesAndOtherLiabilities

Commitments and Contingencies (

Commitments and Contingencies (Details Textual) $ in Millions	1 Months Ended	6 Months Ended
	May 31, 2017Party	Jun. 30, 2019USD ($)
Long-term Purchase Commitment [Line Items]
Number of potentially-responsible parties | Party	4
Commitments related to development, redevelopment and capital improvement activities [Member]
Long-term Purchase Commitment [Line Items]
Commitments related to capital spending activities | $		$ 235.9
Time Period of Long-term Purchase Commitment		12 months
Commitments related to operations [Member] | Maximum [Member]
Long-term Purchase Commitment [Line Items]
Time Period of Long-term Purchase Commitment		1 year

Earnings and Dividends per Sh_3

Earnings and Dividends per Share and Unit - Effect of Dilutive Securities and Securities not Dilutive (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule of Earnings Per Share and Dividends Per Share [Line Items]
Dilutive share and partnership unit equivalents outstanding	232	130	226	130
Non-dilutive share and partnership unit equivalents outstanding		184		184
Unvested restricted participating shares and partnership units	199	257	199	257
AIMCO Properties, LP [Member]
Schedule of Earnings Per Share and Dividends Per Share [Line Items]
Dilutive share and partnership unit equivalents outstanding	381	126	359	129
Non-dilutive share and partnership unit equivalents outstanding		421		421

Earnings and Dividends per Sh_4

Earnings and Dividends per Share and Unit (Details Textual) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule of Earnings Per Share and Dividends Per Share [Line Items]
Number of shares potentially redeemable for (in shares)		2		2
Dividends paid (in dollars per share)		$ 0.39	$ 0.38	$ 2.41	$ 0.76
Distributions paid (in dollars per share)		$ 0.39	$ 0.38	$ 2.41	$ 0.76
Special dividend		$ 58,039	$ 59,781	$ 125,514	$ 119,558
Special Dividend and Special Distribution [Member]
Schedule of Earnings Per Share and Dividends Per Share [Line Items]
Dividends paid (in dollars per share)	$ 2.02
Special Dividend Paid [Member]
Schedule of Earnings Per Share and Dividends Per Share [Line Items]
Special dividend	$ 67,100
Common shares issued in special dividend (in shares)	4.5
Special dividend, cash paid in lieu of fractional shares	$ 400
Special Cash Distribution [Member] | AIMCO Properties, LP [Member] | General Partner and Special Limited Partner [Member]
Schedule of Earnings Per Share and Dividends Per Share [Line Items]
Special distribution		$ 72,700
Units issued in special dividend (in shares)		4.8
Special distribution, cash paid in lieu of fractional shares		$ 400

Fair Value Measurements (Detail

Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Carrying amount of our total indebtedness	$ 3,997,447	$ 4,075,665
Estimated fair value	4,100,000
Available-for-sale Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Face amount of investment in available-for-sale debt securities	$ 100,900
Expected remaining term of available for sale securities	1 year 10 months 24 days
Amortized cost of the investment in available-for-sale debt securities	$ 86,700	83,600
Available-for-sale Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage-backed securities available-for-sale, fair value disclosure	$ 91,700	$ 88,500

Business Segments (Details Text

Business Segments (Details Textual)	6 Months Ended
	Jun. 30, 2019Propertyapartment_homeSegment
Business Segments (Textual) [Abstract]
Number of reportable segments | Segment	4
Wholly And Partially Owned Consolidated Properties [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	124
Number of apartment homes in apartment communities | apartment_home	33,678
Wholly And Partially Owned Consolidated Properties [Member] | Same Store [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	95
Number of apartment homes in apartment communities | apartment_home	27,640
Wholly And Partially Owned Consolidated Properties [Member] | Redevelopment and Development [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	7
Number of apartment homes in apartment communities | apartment_home	3,134
Wholly And Partially Owned Consolidated Properties [Member] | Acquisition [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	7
Number of apartment homes in apartment communities | apartment_home	1,590
Wholly And Partially Owned Consolidated Properties [Member] | Other Real Estate [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	15
Number of apartment homes in apartment communities | apartment_home	1,315
Unconsolidated Properties [Member]
Business Segments (Textual) [Abstract]
Number of owned and managed apartment communities in segments | Property	4
Number of apartment homes in apartment communities | apartment_home	142

Business Segments (Details)

Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Summary information for the reportable segments
Total revenues	$ 224,200	$ 250,187	$ 454,435	$ 497,907
Other operating expenses not allocated to segments	108,257	124,795	217,894	240,851
Total operating expenses	184,096	200,826	372,917	395,169
Proportionate property net operating income	40,104	49,361	81,518	102,738
Other items included in income before income tax benefit (expense)	28,065	(46,512)	280,927	(38,716)
Income before income tax benefit (expense)	68,169	2,849	362,445	64,022
Real Estate [Member]
Summary information for the reportable segments
Total revenues	224,200	231,130	454,435	456,523
Property operating expenses	75,839	76,031	155,023	154,318
Segment Reconciling Items [Member]
Summary information for the reportable segments
Total revenues	8,255	7,640	16,884	15,767
Total operating expenses	7,725	7,116	15,792	14,734
Proportionate property net operating income	530	524	1,092	1,033
Income before income tax benefit (expense)	530	524	1,092	1,033
Segment Reconciling Items [Member] | Real Estate [Member]
Summary information for the reportable segments
Property operating expenses	7,725	7,116	15,792	14,734
Corporate Non-Segment [Member]
Summary information for the reportable segments
Total revenues	892	38,427	8,570	82,023
Other operating expenses not allocated to segments	108,257	124,795	217,894	240,851
Total operating expenses	115,294	134,868	235,287	264,417
Proportionate property net operating income	(114,402)	(96,441)	(226,717)	(182,394)
Other items included in income before income tax benefit (expense)	28,065	(46,512)	280,927	(38,716)
Income before income tax benefit (expense)	(86,337)	(142,953)	54,210	(221,110)
Corporate Non-Segment [Member] | Real Estate [Member]
Summary information for the reportable segments
Property operating expenses	7,037	10,073	17,393	23,566
Same Store [Member] | Operating Segments [Member]
Summary information for the reportable segments
Total revenues	176,375	169,902	350,494	336,931
Total operating expenses	47,169	46,352	93,904	92,659
Proportionate property net operating income	129,206	123,550	256,590	244,272
Income before income tax benefit (expense)	129,206	123,550	256,590	244,272
Same Store [Member] | Operating Segments [Member] | Real Estate [Member]
Summary information for the reportable segments
Property operating expenses	47,169	46,352	93,904	92,659
Redevelopment and Development [Member] | Operating Segments [Member]
Summary information for the reportable segments
Total revenues	19,166	18,482	39,516	36,560
Total operating expenses	7,030	6,936	14,317	13,436
Proportionate property net operating income	12,136	11,546	25,199	23,124
Income before income tax benefit (expense)	12,136	11,546	25,199	23,124
Redevelopment and Development [Member] | Operating Segments [Member] | Real Estate [Member]
Summary information for the reportable segments
Property operating expenses	7,030	6,936	14,317	13,436
Acquisition [Member] | Operating Segments [Member]
Summary information for the reportable segments
Total revenues	10,237	6,358	20,230	7,937
Total operating expenses	2,974	1,875	5,827	2,398
Proportionate property net operating income	7,263	4,483	14,403	5,539
Income before income tax benefit (expense)	7,263	4,483	14,403	5,539
Acquisition [Member] | Operating Segments [Member] | Real Estate [Member]
Summary information for the reportable segments
Property operating expenses	2,974	1,875	5,827	2,398
Other Real Estate [Member] | Operating Segments [Member]
Summary information for the reportable segments
Total revenues	9,275	9,378	18,741	18,689
Total operating expenses	3,904	3,679	7,790	7,525
Proportionate property net operating income	5,371	5,699	10,951	11,164
Income before income tax benefit (expense)	5,371	5,699	10,951	11,164
Other Real Estate [Member] | Operating Segments [Member] | Real Estate [Member]
Summary information for the reportable segments
Property operating expenses	$ 3,904	$ 3,679	$ 7,790	$ 7,525

Business Segments (Details 1)

Business Segments (Details 1) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total assets	$ 6,240,804	$ 6,190,004
Corporate Non-Segment [Member]
Segment Reporting Information [Line Items]
Total assets	323,275	432,095
Same Store [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	4,110,917	4,131,494
Redevelopment and Development [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	852,177	792,126
Acquisition [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	627,109	507,190
Other Real Estate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Total assets	$ 327,326	$ 327,099

Business Segments (Details 2)

Business Segments (Details 2) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Capital additions	$ 179,143	$ 156,053
Same Store [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital additions	73,242	61,581
Redevelopment and Development [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital additions	84,782	86,202
Acquisition [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital additions	15,056	3,985
Other Real Estate [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital additions	$ 6,063	$ 4,285

Variable Interest Entities (Det

Variable Interest Entities (Details) $ in Thousands	Jun. 30, 2019USD ($)PropertyEntityUnit	Dec. 31, 2018USD ($)PropertyEntityUnit
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Net real estate	$ 5,719,000	$ 5,723,475
Cash and cash equivalents	33,958	36,858
Restricted cash	31,949	35,737
Other Assets	455,897	351,541
Non-recourse property debt secured by Aimco communities, net	3,702,487	3,915,305
Accrued liabilities and other	$ 299,313	$ 226,230
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of consolidated variable interest entities | Entity	7	9
Number of apartment communities | Property	7	9
Number of apartment homes in apartment communities | Unit	3,183	3,592
Variable Interest Entity, Consolidated, Carrying Amount, Assets and Liabilities, Net [Abstract]
Net real estate	$ 405,174	$ 488,127
Cash and cash equivalents	7,618	15,416
Restricted cash	3,106	4,461
Other Assets	27,144	3,973
Non-recourse property debt secured by Aimco communities, net	177,825	322,685
Accrued liabilities and other	$ 35,946	$ 13,576