Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thu, April 25, 3:47 AM
This Slide: #450 of 620 |
Slide #450. 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 is a self-administered and self-managed real estate investment trust primarily focused on the multifamily sector within the continental U.S. Co. through a wholly-owned subsidiary, is the general partner and directly is the special limited partner of the Aimco OP L.P. (Aimco Operating Partnership). Co. conducts all of its business and owns all of its assets through the Aimco Operating Partnership. Co. owns or leases a portfolio of real estate investments focused primarily on the U.S. multifamily sector.
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