Apartment Investment And Management Company · NYSE:AIV
Apartment Investment And Management — Corporate Update (July 2010)
14 slides from Apartment Investment And Management's corporate update, Jul 14, 2010
Slide 1: AIMCO Boston Property Tour July 14, 2010
AIMCO Boston Property Tour July 14, 2010
Slide 2: Aimco Has a Simple Business Strategy
Aimco Introduction Aimco Has a Simple Business Strategy Own and operate 100,000 B/B+ quality apartments Well located in Opportunistic 20 largest U.S. redevelopment markets Finance with property-level, non-recourse, long-dated, fixed-rate and amortizing debt
Slide 3: Aimco Owns High Quality Assets
Aimco Owns High Quality Assets 1Q 2010 Average Rents AimcoREIS+ / - Aimco Target Markets1Q 2010 Average Rents as % of Market in Aimco Target Markets Los Angeles$ 2,001$ 1,338 + 50% Seattle1,194946 + 26%90% — 100%100% — 110% 110% — 120% 120% Philadelphia1,216973 + 25% South Florida1,2481,020 + 22%Hom
Slide 4: Opportunistic Redevelopment
Opportunistic Redevelopment Redevelopment Investment ($M) $350$319 $300 $243 $250$204$180 $200 $150 $100$56 $50 $0 2005 2006 2007 2008 2009 Aimco has invested approximately $1 billion in its portfolio over the last five years through opportunistic redevelopment of assets in quality locations. At the
Slide 5: Financing Strategy
Financing Strategy Aimco Debt Structure Recourse bank Other debtborrowings 1%1% Non-recourse Preferred stock property debt 13% 85% Aimco has an enterprise-wide weighted-average maturity of 8.1 years, 30% longer than our apartment peer average. Aimco leverage is approximately 64%, compared to apartme
Slide 6: Boston Market Overview
Boston Mardket Overview Market DataUS Avg. 1Q 2010 1Q 2009 Variance 1Q 2010 Effective Rents$1,598$1,645-2.9%$967 Occupancy93.5%93.6%-0.1% 92.0% Unemployment Rate8.4%6.8%1.6% 9.7% Median Home Value (‘000)$334$3088.5%$170 Single-Family Permits3,7062,62941.0% 1,574,000 Multifamily Permits (Units)1,8644
Slide 7: Aimco Boston Portfolio
Aimco Boston Prttfolio AIMCO9
Slide 8: Aimco Boston Portfolio
Aimco Boston Portfolio Aimco Conventional Portfolio Same Store Redevelopment Total/Avg Total Properties 12-12 Total Units 4,250-4,250 1Q 2010 Average Rent $ 1,163n/a$ 1,163 1Q 2010 Rent as % of Market -27%n/a-27% 1Q 20104Q 2009 GAV (Aimco Share in $M) Year Built/Avg Units Redev Category Rent ADO* Sa
Slide 9: Georgetown & Granada Apartments
Georgetown & Granada Apartments Georgetown Year Built/Redeveloped1969 Aimco Ownership %100% No. of Units207 # of _____ % of Average Unit Size (SF)876 Unit Description Units Mix 1Q 2010 ADO97.2%1BR / 1BA9948% 1Q 2010 Average Rent$ 1,2302BR / 1BA10852% 1Q 2010 Average Rent PSF$1.40Total207100% Granada
Slide 10: Bayberry Hill Estates Apartments
Bayberry Hill Estates Apartments # of _____ % of Year Built/Redeveloped1971 Unit Description Units Mix Aimco Ownership %100%Studio 6014% No. of Units4241BR / 1BA10625% Average Unit Size (SF)9362BR / 1BA61% 1Q 2010 ADO96.9%2BR / 2BA22854% 1Q 2010 Average Rent$ 1,2893BR / 2BA246% 1Q 2010 Average Rent
Slide 11: Royal Crest Estates North Andover
Royal Crest Estates North Andover Year Built/Redeveloped1970 Aimco Ownership %100% # of _____ % of No. of Units588 Unit Description Units Mix Average Unit Size (SF)1,1732BR / 1BA9416% 1Q 2010 ADO96.6%2BR / 2BA38666% 1Q 2010 Average Rent$ 1,3233BR / 2BA10818% 1Q 2010 Average Rent PSF$1.13Total588100%
Slide 12: Loring Towers Apartments
Loring Towers Apartments Year Built/Redeveloped1973/2008 Aimco Ownership %100% No. of Units250 1Q 2010 ADO80.0% 1Q 2010 Average Rent$980 Community Features: Unit Features: Tennis court, basketball court Updated kitchen and bath Clubhouse New energy-saving GE appliances Courtesy patrol Breakfast bar
Slide 13: Vantage Pointe Apartments
Vantage Pointe Apartments Year Built/Redeveloped1987 Aimco Ownership %100% No. of Units96 # of _____ % of Average Unit Size (SF)1,298 Unit Description Units Mix 1Q 2010 ADO97.7%1BR / 1BA11% 1Q 2010 Average Rent$ 1,5632BR / 2BA9599% 1Q 2010 Average Rent PSF$1.20Total96100% Community Features: Unit Fe
Slide 14: AIMCO Boston Property Tour July 14, 2010
AIMCO Boston Property Tour July 14, 2010
Apartment Investment & Management — Corporate Update (July 2010) on 6ix