Apartment Investment And Management Company · NYSE:AIV
Apartment Investment And Management — Investor Presentation (January 2003)
10 slides from Apartment Investment And Management's investor presentation, Jan 9, 2003
Slide 1: Forward Looking Statements
FORWARD LOOKING STATEMENTS Aimco has prepared this presentation in an effort to provide investors with additional information about Aimco and its 2003 Outlook. Included in this presentation are expected results for 2002 and projected financial information for 2003 as well as the forward-looking busi
Slide 2: 327,000 units at 1,800 apartment properties
327,000 units at 1,800 apartment properties
Slide 3: 1,800 Properties Include:
1,800 Properties Include:
Slide 4: 130,000 units
130,000 units
Slide 5: Properties, 75,000 units
300 properties 75,000 units
Slide 6: Affordable Business — Real Estate Portfolio
• Average rent $650 • Gross asset value $2.1 billion (Aimco share $850 million) • Current NAV estimated at $310 million or $2.70 per share • 2002 sales of $77 million slightly exceeded estimated NAV • 10 to 15 properties to be redeveloped in • 15% are presently available for sale Affordable Business
Slide 7: Improve quality of on-site employees
Improve quality of on-site employees Recruiting • The economic environment for finding qualified employees has improved • 10 resumes per posted position on Aimco.com website Training • Rolling out new employee training programs for leasing and maintenance • Over 60% of new employee training takes pl
Slide 8: Affordable Asset Management
Affordable Asset Management • Provides asset management services primarily to tax credit financed properties — 435 NAPICO properties totaling 40,000 units — 170 SPI properties totaling 20,000 units • Has compliance oversight responsibility for owned Affordable portfolio • Earns approximately $2.5 mi
Slide 9: Guidance general assumptions
• Economic recovery underway • Apartment demand tied to job growth — Job creation lags recovery, expected second half 2003 • Assumes no material adverse change due to: — War with Iraq — Acts of terrorism • Interest rates expected to rise in second half 2003 — Positively impacts supply and demand Gui
Slide 10: Operations and Earnings Outlook — Summary Per Share
Operations • “Same Store” occupancy and rent flat with fourth quarter in “low” case to some seasonal benefits in occupancy in “high” case • 2002 acquisitions add $5 to $6 million incremental NOI • Property management contributes $22 to $27 million incremental to NOI Transactions • Mark to market loa
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