Apartment Investment and Management Company Sees Q2 FFO of $0.18 to $0.22

Apartment Investment and Management Company AIV announced today that it has completed a series of financing transactions over the last six months that repaid 19 non-recourse property loans scheduled to mature between 2012 and 2016 with proceeds from new long-term, fixed-rate, non-recourse property loans. The new loans, which total $674 million, were closed in three parts; $219 million closed in December 2010, $121 million closed in March 2011, and $334 million closed in May 2011. Each of the new loans has a 10 year term, and provides for monthly amortization that would provide for full repayment over 30 years. The company Also announced that it expects Q2 FFO of $0.18 to $0.22 and full year FFO of $1.34 to $1.44