SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) August 29, 2002
APARTMENT INVESTMENT AND MANAGEMENT COMPANY
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(Exact name of registrant as specified in its charter)
MARYLAND 1-13232 84-1259577
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation or File Number) Identification No.)
organization)
2000 SOUTH COLORADO BOULEVARD, TOWER TWO
SUITE 2-1000, DENVER, CO 80222-7900
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (303) 757-8101
NOT APPLICABLE
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(Former name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS.
On August 29, 2002, Apartment Investment and Management Company
("Aimco") announced that it acquired from Thomas J. Flatley 100% ownership of
eleven conventional garden and mid-rise apartment properties located primarily
in the greater Boston area. The eleven properties include 4,323 apartment units
on 553 acres. The total cost of the acquisition includes $500 million for the
properties and $2.5 million in transaction costs. In addition, Aimco expects to
spend $6.2 million for initial capital expenditures to address identified
property needs. Aimco may also spend as much as an additional $28 million in
initial capital expenditures to complete a kitchen and bath program that was
initiated by the prior owner. Aimco funded the all cash purchase price using
$309 million of 20-year, fully amortizing mortgage debt at interest rates
averaging 5.69% plus borrowing under Aimco's credit facility. The press release
of Aimco, attached hereto as Exhibit 99.1, relating to the consummation of the
acquisition, is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) Exhibits
The following exhibits are filed with this report:
99.1 Press Release of Apartment Investment and Management Company,
dated August 29, 2002
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
Dated: September 4, 2002
APARTMENT INVESTMENT
AND MANAGEMENT COMPANY
By: /s/ Paul J. McAuliffe
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Paul J. McAuliffe
Executive Vice President and Chief
Financial Officer
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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99.1 Press Release of Apartment Investment and Management Company,
dated August 29, 2002