Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, September 13, 12:48 PM
| This Slide: #498 of 668 |
Slide #498. Apartment Investment and Management Company — Preferred Stock Offering
| Company: | Apartment Investment and Management Company (NYSE:AIV) |
| Date announced: | 5/12/2014 |
| Security type: | 6.875% Class A Cumulative Preferred Stock (AIV.PRA) |
| Shares Offered: | 5,000,000 |
| Date of Pricing: | 5/12/2014 |
| Price Per Share: | $25.00 |
| Preferred Stock Offering Details: | Apartment Investment and Management Company announced that it has priced an underwritten public offering of five million shares of its 6.875% Class A Cumulative Preferred Stock. The shares were priced at $25 per share for gross proceeds to Aimco of $125 million. The net proceeds of the offering are expected to be approximately $121.1 million and will be used by Aimco for general corporate purposes, which may include repayment of indebtedness under its revolving credit facility and repayment of non-recourse property debt. |
Apartment Investment and Management Co. is a diversified real estate company primarily focused on value add and opportunistic investments, targeting the U.S. multifamily sector. Co. operates through three segments: Development and Redevelopment, Operating, and Other. The Development and Redevelopment segment consists of properties that are under construction or have not achieved stabilization, as well as land held for development. The Development and Redevelopment segment consists of 11 properties, three of which are under construction. The Operating segment includes 21 residential apartment communities with 5,600 apartment homes that have achieved a stabilized level of operations.
Open the AIV Page at Preferred Stock Channel »Open the AIV.PRA Page at Preferred Stock Channel for More Information About this Preferred »
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