Apartment Investment and Management (NYSE: AIV ), also known as Aimco, first introduced the idea of spinning off its multi-family apartment buildings into a publicly traded, self-managed REIT (real estate investment trust) back in September 2020. It then completed the spinoff on Dec. 15, 2020. As a result, AIV shareholders got AIRC stock on a one-for-one basis. Primarly, the move was made so that Aimco could focus on its development and redevelopment opportunities.