Aimco (AIV) Announces 11M Common Offering

Apartment Investment and Management Company (NYSE: AIV) has commenced a 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, which may include the repayment of debt, the acquisition of properties, and redevelopment investments at Aimco’s properties.

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