Aimco greenshoe exercised, raising preferreds to $86.3 million

Pittsburgh, Sept. 29 - Aimco Properties LP said the underwriters of its recent offering of class V cumulative preferred stock exercised the 450,000 share, or $11.25 million, over-allotment option in full, raising the size of the deal to 3.45 million shares, or $86.25 million.

The self-administered and self-managed real estate investment trust originally priced $75 million, or 3 million shares, of the preferreds on Sept. 24 at an 8% dividend.

Morgan Stanley was the bookrunner for the deal.

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