Aimco announces plans to redeem class G cumulative preferred stock

By Devika Patel

Knoxville, Tenn., Aug. 31 - Aimco Apartment Investment and Management Co. will use the proceeds from an offering of 7.75% class U cumulative preferred stock to redeem up to $101 million of its class G cumulative preferred stock, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission.

The redemption of the class G preferreds will be funded by the Aimco Operating Partnership's concurrent redemption of a like amount of class G partnership preferred units that are held by Aimco Apartment.

Aimco is a Denver-based real estate investment trust focused on apartment communities.

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