Apartment Investment and Management Company Announces Pay Off of Acquisition Facility

Apr 02, 2001, 01:00 ET from Apartment Investment and Management Company

    DENVER, April 2 /PRNewswire/ -- Apartment Investment and Management
 Company (NYSE:   AIV) (or "Aimco") announced today that it has repaid in full
 the acquisition facility incurred in connection with the acquisition of the
 Oxford interests in September 2000.  Aimco originally borrowed $279 million
 from a participating lender group led by Bank of America, N.A. and Lehman
 Brothers.  The facility was paid off with proceeds from internal cash flow and
 sales and refinancing activities.
 
     Aimco is a real estate investment trust, with headquarters in Denver,
 Colorado and 25 regional operating centers, which holds a geographically
 diversified portfolio of apartment communities.  Aimco, through its
 subsidiaries, operates 1,720 properties, including 326,000 apartment units,
 and serves approximately one million residents.  Aimco's properties are
 located in 47 states, the District Columbia and Puerto Rico.
 
     For more information about Aimco, contact Katie Murphree, Vice President -
 Investor Relations at (303) 691-4440, or Paul McAuliffe, Executive Vice
 President and Chief Financial Officer at (303) 691-4339, email Aimco at
 investor@aimco.com or visit Aimco's web site at www.aimco.com.
 
 

SOURCE Apartment Investment and Management Company
    DENVER, April 2 /PRNewswire/ -- Apartment Investment and Management
 Company (NYSE:   AIV) (or "Aimco") announced today that it has repaid in full
 the acquisition facility incurred in connection with the acquisition of the
 Oxford interests in September 2000.  Aimco originally borrowed $279 million
 from a participating lender group led by Bank of America, N.A. and Lehman
 Brothers.  The facility was paid off with proceeds from internal cash flow and
 sales and refinancing activities.
 
     Aimco is a real estate investment trust, with headquarters in Denver,
 Colorado and 25 regional operating centers, which holds a geographically
 diversified portfolio of apartment communities.  Aimco, through its
 subsidiaries, operates 1,720 properties, including 326,000 apartment units,
 and serves approximately one million residents.  Aimco's properties are
 located in 47 states, the District Columbia and Puerto Rico.
 
     For more information about Aimco, contact Katie Murphree, Vice President -
 Investor Relations at (303) 691-4440, or Paul McAuliffe, Executive Vice
 President and Chief Financial Officer at (303) 691-4339, email Aimco at
 investor@aimco.com or visit Aimco's web site at www.aimco.com.
 
 SOURCE  Apartment Investment and Management Company