Aimco (AIV) Prices 11M Offering

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Apartment Investment and Management Company (NYSE: AIV) has priced its public offering of 11,000,000 shares of its common stock. Aimco intends to use approximately $150 million of the net proceeds to redeem all outstanding shares of its Class T Cumulative Preferred Stock, approximately $65 million of net proceeds to redeem all outstanding shares of its Class V Cumulative Preferred Stock and the remaining net proceeds to redeem outstanding shares of Class Y Cumulative Preferred Stock and for general corporate purposes. The offering is expected to close on May 16, 2012, subject to customary conditions. Aimco expects the preferred stock redemptions to occur in approximately 30 days.

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