Apartment Investment and Management Company Prices Preferred Stock Offering at $24.25 per Share

Apartment Investment and Management Company AIV announced today that it has priced an underwritten public offering of 800,000 shares of its 7.00% Class Z Cumulative Preferred Stock. The shares were priced at $24.25 per share, equating to a yield of 7.216%, for gross proceeds to Aimco of approximately $19.4 million. The net proceeds of the offering are expected to be approximately $18.5 million, and will be used by Aimco for general corporate purposes, which may include the redemption of other preferred securities.