Apartment Investment and Management Company (NYSE: AIV) (“Aimco”
or the “Company”) today announced that it has appointed Sherry L.
Rexroad to its Board of Directors, effective immediately. Ms.
Rexroad has been appointed to Aimco’s Audit, Compensation and Human
Resources, Investment, and Nominating, Environmental, Social, and
Governance Committees.
Ms. Rexroad is a highly regarded executive and former
institutional investor with 30 years of experience in REITs and
real estate, finance and capital markets. She most recently served
as Chief Financial Officer of STORE Capital, a publicly traded
net-lease REIT. Prior to that she spent a decade at BlackRock
Global Real Asset Securities as Global Head of Business Development
as well as Co-Global Chief Investment Officer and Chair of the
Investment Committee. Ms. Rexroad also served as a member of
BlackRock’s Investment Stewardship Advisory Committee and was the
first investor to be elected to Nareit’s Advisory Board of
Governors.
“Sherry’s significant real estate, finance and corporate
governance expertise will make her an impactful addition to our
Board,” said R. Dary Stone, Chairman of the Board. “In particular,
Sherry’s unique perspectives as a REIT CFO and experienced
institutional investor, as well as her deep investment stewardship
expertise, are highly relevant to the Aimco business and our
ongoing review of opportunities to further enhance and unlock
shareholder value.”
“I am excited to join the Aimco Board,” said Ms. Rexroad. “Aimco
has a significant opportunity ahead with a strong portfolio of
assets and compelling development platform and pipeline. I look
forward to working collaboratively with the Board and management
team to drive value for shareholders.”
Aimco also announced that Robert A. Miller has notified the
Company he will not be standing for re-election at the Company’s
2023 Annual Meeting and will retire from the Board upon expiration
of his term at the conclusion of the 2023 Annual Meeting.
Additionally, at the 2023 Annual Meeting, all of the Company’s
director nominees will stand for re-election to a one-year term,
and thereafter, the Board will comprise nine directors.
Mr. Stone continued, “On behalf of the Board, we thank Bob for
his contributions and commitment to Aimco and to its shareholders.
Aimco and the members of its Board have been honored by their
association with Bob and are grateful for his service and
expertise.”
About Sherry Rexroad
Ms. Rexroad most recently served as Chief Financial Officer of
STORE Capital, a publicly traded REIT specializing in the
acquisition, investment and management of single tenant operational
real estate, prior to the completion of its sale to GIC and Oak
Street. Prior to joining STORE, she spent ten years at BlackRock
Global Real Asset Securities. She served as Blackrock’s Global Head
of Business Development, as well as Co-Global Chief Investment
Officer and Chair of the Investment Committee, where she led
fundraising efforts, was a key member that built and led the global
real asset securities team, and led the development of an ESG
scoring system to be implemented into its investment strategy.
Earlier in her career, she worked in various capacities for Aviva
Investors, ING Clarion Real Estate Securities, AEW Capital
Management, the U.S. Environmental Protection Agency and the U.S.
General Services Administration. Ms. Rexroad graduated from
Haverford College and holds an MBA from The Wharton School,
University of Pennsylvania. She also holds the Chartered Financial
Analyst designation and is a member of the CFA Institute.
About Aimco
Aimco is a diversified real estate company primarily focused on
value add, opportunistic, and alternative investments, targeting
the U.S. multifamily sector. Aimco’s mission is to make real estate
investments where outcomes are enhanced through its human capital
so that substantial value is created for investors, teammates, and
the communities in which we operate. Aimco is traded on the New
York Stock Exchange as AIV. For more information about Aimco,
please visit its website www.aimco.com.
Forward-Looking Statements
This document contains forward-looking statements within the
meaning of the federal securities laws. Forward-looking statements
include all statements that are not historical statements of fact
and those regarding our intent, belief, or expectations, including,
but not limited to, the statements in this document regarding
future financing plans, including the Company’s expected leverage
and capital structure; business strategies, prospects, and
projected operating and financial results (including earnings and
shareholder value), including facts related thereto, such as
expected costs; future Company potential; future share repurchases;
expected investment opportunities; and our 2023 pipeline
investments and projects. We caution investors not to place undue
reliance on any such forward-looking statements.
Words such as “anticipate(s),” “expect(s),” “intend(s),”
“plan(s),” “believe(s),” “plan(s),” “may,” “will,” “would,”
“could,” “should,” “seek(s),” “forecast(s),” and similar
expressions, or the negative of these terms, are intended to
identify such forward-looking statements. These statements are not
guarantees of future performance, condition or results, and involve
a number of known and unknown risks, uncertainties, assumptions and
other important factors, among others, that may affect actual
results or outcomes including, but not limited to: (i) the risk
that the 2023 preliminary plans and goals may not be completed in a
timely manner or at all, (ii) the inability to recognize the
anticipated benefits of the pipeline investments and projects,
(iii) whether NAV targets will be achieved; and (iv) changes in
general economic conditions, including as a result of the COVID-19
pandemic. Although we believe that the assumptions underlying the
forward-looking statements, which are based on management’s
expectations and estimates, are reasonable, we can give no
assurance that our expectations will be attained.
Readers should carefully review the Company’s financial
statements and the notes thereto, as well as the sections entitled
“Risk Factors” in Item 1A of the Company’s Annual Report on Form
10-K for the year ended December 31, 2022 and the other documents
the Company files from time to time with the SEC. These filings
identify and address important risks uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements.
These forward-looking statements reflect management’s judgment
as of this date, and the Company assumes no (and disclaims any)
obligation to revise or update them to reflect future events or
circumstances.
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version on businesswire.com: https://www.businesswire.com/news/home/20230327005618/en/
Matt Foster Sr. Director, Capital Markets and Investor Relations
(303) 793-4661 investor@aimco.com
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