Fay, which made its first US landfall on the Florida Keys on Aug. 18, damaged 53 Aimco apartment properties, all but three of them in Florida. Hurricane Ike made its US landfall at Galveston, TX on September 13 and subsequently damaged 62 Aimco properties, including 25 in the greater Houston area, six in Galveston and other parts of the Gulf Coast, four in Dallas and surrounding areas, and 27 in other states as the storm tracked through the Midwest.
With none of the properties affected structurally, Aimco estimates the total bill will come in between $3 million and $6 million in third quarter FFO, Aimco said. Aimco owns and operates 188,672 units in 1,114 properties in 46 states.
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