Apartment Investment And Management Company · NYSE:AIV
Apartment Investment And Management — Corporate Update (June 2004)
9 slides from Apartment Investment And Management's corporate update, Jun 8, 2004
Slide 1: Topics
Topics 1. Operations 2. Redevelopment and Construction Services 3. Aimco Capital 4. Opportunity
Slide 2: Operations — Turnaround Underway
Operations — Turnaround Underway issue ACTION TAKEN satus PERFORMANCE BELOW PEER Restated organiza: Jef le Headot —~ Transarmaton expected tae SvERAce Propet cperatan tim Pune Head He femainderof year fepandd fnanca od gab ntasuire in Btneat repulsed 202 ore Bapdeat aaitandmateting Eenda and average
Slide 3: Operations — Turnaround Underway (continued)
Operations — Turnaround Underway issue acTION TAKEN status CUSTOMER ACQUISITION PROCESS - -Siturad eles goal and coating of al alee Measurements in ple forall steps readed defntion andtainng people Senainze infomation and presntton ace in ane med ? Re-targeted mesa plaosmant Standardized phone and s
Slide 4: Redevelopment and Construction Services — Expanded Role
Redevelopment and Construction Services — Expanded Role Expanded Construction Services group to oversee redevelopment and capital projects * Objectives: improve investment decisions and timeliness for capital and redevelopment expenditures to better maintain and improve asset quality + Reduced burde
Slide 5: Redevelopment — 2004 Projects
Redevelopment — 2004 Projects Target 40 well-located properties per year for $2-10 mil redevelopments - Objective to improve asset quality and resident profile - Threshold returns in excess of 10% - Have initiated construction on 5 projects with another 12 approved + Flamingo South Beach is complete
Slide 6: Redevelopment — Upside Opportunity
Redevelopment — Upside Opportunity Nine redevelopment projects completed yet not stabilized provide upside in NOI of estimated $20-plus million, annualized by end 2005 + Major projects: - Flamingo South Beach - Glenbridge Manors - Reflections - The Ashford - Calhoun
Slide 7: Aimco Capital — Property Operations - Stable
Aimco Capital -— Property Operations - Stable + Affordable occupancy 95%; rents $640 and expect to remain consistent. 10 NOI $20.8 mm and FCF $18.5 mm + Property management revenue net of expenses $4.2 mm and expect to remain consistent Fee and Asset Management - Strong + Growing pipeline + Activity
Slide 8: Opportunity — Improved Operations
Opportunity — Improved Operations Occupancy: 1% increase SSS units: gross 162,315; ownership adjusted 130,000 1% increase adds occupied units: gross 1,620; ownership adjusted 1,300 At $726 per month rent, adds: gross $14.1 mm/year; ownership adjusted $11.3 mm/year Rent: 1% increase SSS units occupie
Slide 9: Searchable text section of graphics shown above
Searchable text section of graphics shown above [ LOG O] Topics 1. Operations 2. Redevelopment and Construction Services 3. Aimco Capital 4. Opportunity Ope rati ons — Turnaround Underway ISSUE ACTION TAKEN STATUS PERFORMANCE BELOW PEER AVERAGE • Restructured organization: Jeff Adler Head of Propert
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