Apartment Investment And Management Company · NYSE:AIV

Apartment Investment And Management — Citi 2014 Global Property CEO Conference

12 slides from Apartment Investment And Management's conference presentation, Mar 3, 2014

  1. Slide 1: Citi 2014 Global Property CEO Conference

    1 CITI 2014 GLOBAL PROPERTY CEO CONFERENCE

  2. Slide 2: Strategic Areas of Focus

    2 STRATEGIC AREAS OF FOCUS • Peer-leading operating cost control • Below-average turnover • Above-average property operating results over cycle • Diversified across markets and price points to reduce volatility • Disciplined capital recycling to upgrade portfolio • Peer-leading growth in average rev

  3. Slide 3: High customer service, lower turnover philosophy

    3 High customer service, lower turnover philosophy  Greater NOI contribution: Renewal lease rate increases are generally higher than new lease rate increases; renewals avoid costs associated with higher vacancy, refurbishment and marketing.  More predictable operating results: Renewal lease rate i

  4. Slide 4: Strong operating performance

    4 Strong operating performance  During the most recent cycle, from 2006 through 2012, the compound annual growth rate for Aimco’s property NOI of 3.7% is in line with peers*.  At the market level, Aimco’s operating results are above-average.  In 2013, 60% of Aimco’s NOI was earned in markets wher

  5. Slide 5: Maintaining diversification while moving to higher average price point

    5 Maintaining diversification while moving to higher average price point  Los Angeles expected to outperform in 2014, helping to offset slower Mid Atlantic.  Allocation to Coastal California increasing to ~33% in coming years as redevelopments come online.  Avoid concentration risk by maintaining

  6. Slide 6: Methodical approach to investment selection

    6 Methodical approach to investment selection  Portfolio strategy executed through leverage-neutral, tax-efficient paired trades when: the projected Free Cash Flow IRR of an investment is greater than the projected Free Cash Flow IRR of the property sold; and portfolio quality is enhanced.  Select

  7. Slide 7: Average revenues per apartment home increasing at a greater rate than peers

    7 Average revenues per apartment home increasing at a greater rate than peers  Over the last ten years, the compound annual growth rate for Aimco’s Same Store average revenue per apartment home is 20% higher than the peer average and nearly three times that of market rent growth.  Aimco is the onl

  8. Slide 8: Redevelopment: core business activity creating shareholder value

    8 ~$2/share Core business activity creating shareholder value REDEVELOPMENT Redevelopment Five Properties Currently Under Redevelopment Inception-to-Date Investment $496M Total Estimated Investment $613M Remaining to Invest $117M 2014 Total Expected Redevelopment Investment $125M - $150M

  9. Slide 9: Quantity of leverage is in line with peers, and declining

    9 Quantity of leverage is in line with peers, and declining  We achieved our target for lower leverage two years ahead of plan.  Aimco’s leverage of 7.2x reflects outstanding balances at 12/31/2013, but overstates the refunding risk of our leverage, as our property debt is amortizing and certain o

  10. Slide 10: Quality of leverage is superior

    10 Quality of leverage is superior BALANCE SHEET (1) Peer group consists of AvalonBay, BRE, Camden, Equity Residential, Essex, Home Properties, MAA, Post Properties and UDR. Data as of 12/31/2013. Data sources: SNL Financial, company reports. (2) Weighted average term to maturity assumes preferred s

  11. Slide 11: We live our values, foster a culture of success and work collaboratively

    11 Integrity Respect CollaborationCustomer Focus Performance We live our values, foster a culture of success and work collaboratively BUSINESS & CULTURE Our Vision To be the best owner and operator of apartment communities, inspired by a talented team committed to exceptional customer service, stron

  12. Slide 12: This presentation contains forward-looking statements within the meaning of the federal securities laws, including,

    12 This presentation contains forward-looking statements within the meaning of the federal securities laws, including, without limitation, statements regarding projected results and specifically: forecasts of 2014 financial and operating results; Aimco's development and redevelopment project investm

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