Aimco’s Acquisition of 100% Ownership of Palazzo Properties


Skadden represented Apartment Investment and Management Company (“AIMCO”) in its acquisition of a 47% interest in a joint venture owned by institutional investors advised by J.P. Morgan Asset Management for $451.5 million.

Apartment Investment and Management Company is a real estate investment trust. The Firm, led by Terry Considine, Paul L. Beldin, Lisa R. Cohn, John E. Bezzant and Keith M. Kimmel.

As a result of this acquisition, AIMCO now owns 100% of the following 3 apartment home communities located in the Mid-Wilshire district of Los Angeles, California: Palazzo at Park La Brea, a 521 apartment home community; Palazzo East, a 611 apartment home community; and Villas at Park La Brea, a 250 apartment home community.

The Los Angeles-based team included partners Meryl Chae (Picture), Jonathan Friedman, Ivan Cao and Ryan Chen.

Involved fees earner: Meryl Chae – Skadden Arps Slate Meager & Flom; Jonathan Friedman – Skadden Arps Slate Meager & Flom; Ivan Cao – Skadden Arps Slate Meager & Flom; Ryan Chen – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: Apartment Investment and Management Company;

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Author: Ambrogio Visconti