Apartment Investment And Management Company shares rise 2.62% intraday after Western Alliance Bank's investment in affordable housing projects.

Apartment Investment And Management Company rose 2.62% intraday, with Western Alliance Bank announcing the grand opening of Serenity, a new residential project in South Los Angeles, supported in part by construction-to-permanent financing provided by Western Alliance’s Affordable Housing Finance Group in partnership with R4 Capital Funding. The project includes a retail component and was co-developed by John Stanley Inc. and Concerned Citizens Community Involvement.