Apartment Investment and Management Co. : Apartment Investment and Management Company Provides Clarification of Historical Unrelated Business Taxable Income
05/31/2012| 12:55pm US/Eastern
Apartment Investment and Management Company ("Aimco") (NYSE: AIV) today
clarified the nature and extent of previously earned unrelated business
taxable income ("UBTI"). Aimco previously owned a residual interest in a
real estate mortgage investment conduit ("REMIC"), which periodically
generated an immaterial amount of excess inclusion income, which is
generally required to be treated as UBTI by tax-exempt organizations. On
August 7, 2008, Aimco liquidated the REMIC and eliminated its sole
source of UBTI. Aimco did not generate UBTI in tax years 2009, 2010 or
2011 and has a practice of avoiding investments in vehicles that may
generate UBTI to Aimco in the future.
Aimco is a real estate investment trust that is focused on the ownership
and management of quality apartment communities located in the largest
markets in the United States. Aimco is one of the country's largest
owners and operators of apartments, with 361 communities serving
approximately 250,000 residents in 30 states, the District of Columbia
and Puerto Rico. Aimco common shares are traded on the New York Stock
Exchange under the ticker symbol AIV and are included in the S&P 500.
For more information about Aimco, please visit our website at www.aimco.com.
Apartment Investment and Management Company
Vice President Investor Relations
© Business Wire 2012