Developer Carl Dranoff is selling off his entire portfolio of rental properties in and around Philadelphia, as he turns his attention to new and ongoing big projects such as his planned South Broad Street condo towers and the soon-to-open One Theater Square apartments in Newark, N.J.

Denver-based investment trust Apartment Investment & Management Co. plans to pay $445 million for the package, which includes five properties comprising 665 existing apartments in Philadelphia, making it the city’s biggest residential landlord. Also included in the deal are 341 units in Camden, 110 units under construction in Ardmore, and 185,000 square feet of office and retail space, Aimco and Dranoff Properties Inc. said in a release Monday.

“This will allow us to focus on the future, building new projects, which is the most fun,” Dranoff said in an interview. “It gives me the opportunity to really put my energy and enthusiasm and vision into what lies ahead of us in our third decade.”

Included in the sale are Locust on the Park in the Fitler Square neighborhood, 777 South Broad and Southstar Lofts on South Broad Street, the Left Bank in University City, the Victor in Camden, and One Ardmore Place in Lower Merion, which is under construction.

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