A I M C O A N N U A L R E P O R T
A P A R T M E N T I N V E S T M E N T A N D M A N A G E M E N T C O M P A N Y
2006 was a successful year for Aimco.
In 2006, Aimco delivered solid financial results through better processes and better execution.
The company experienced solid rental rate growth, sustained occupancy, and did an outstanding
job of managing expenses through improved efficiencies.
The company’s increased share price — $56.02 at year-end — is a result of improved operating
results and increased investor confidence in the Aimco business plan and the Aimco management
team. Total shareholder return was 55.2% for 2006. Aimco ranked 22nd for one-year total
return among companies in the S&P 500. During 2006, Aimco was again ranked as one of the
most admired real estate companies in Fortune Magazine’s annual poll.
Aimco is a real estate investment trust (REIT) with headquarters in Denver, Colorado. Its common
stock is included in the S&P 500 and is traded under AIV on the New York Stock Exchange.
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Our mission
To consistently provide quality apartment homes
in a respectful environment delivered by a team
of people who care.
Flamingo
Miami Beach, FL
Bank Loft
Denver, CO
(Cover photo)
Broadcast Center
Los Angeles, CA
216,400 apartments1,256 communities6,000 team members To My Fellow Shareholders,
I am pleased to report that our company delivered remarkable results
in 2006. Total shareholder return was 55.2%, lifting the compounded
annual return since our 1994 IPO to 17.2%.
These gratifying results are due in important part to the excellent
apartment market, now enjoying a solid recovery from the recession
period between 2002-2004; they are also due to hard decisions made
then to improve Aimco for the longer term. Most fundamentally, they
are due to the hard work of the exceptional men and women with
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whom I am privileged to work every day.
2006 Total Shareholder Return vs. Indices
AIV
MSCI U.S.
REIT INDEX
DJIA
S&P 500
Our business is providing apartment homes. Operating excellence, measured
by customer satisfaction as well as financial outcomes, is its foundation. Jeff
Adler and his team have systematically put in place the most effective apart-
ment operations of which I am aware. While I am proud that Aimco same
store results have exceeded peer average levels for eight quarters in a row, I
am even more enthusiastic about what I see ahead. Jeff has identified many
opportunities for further improvement and assures me that we are still in
“early innings.” In particular, we are focused on leveraging the revolutionary
possibilities for apartment operations that result from automation and web-
based customer transactions.
We have tended to invest in older properties in better locations where land
value is a much higher percent of total value than is the case with newer
properties. Knowing that depreciation is all too real over time, we like the
idea that a significant portion of our investment is in land that is appreciating.
Over time, increasing land values create important opportunities: for redevel-
oping or upgrading the existing structures, and for re-entitling the land and
constructing wholly new structures. As the Aimco portfolio has matured, we
find ourselves with an abundance of such opportunities.
Redevelopment is an excellent way to make money; correcting obsolescence,
extending useful lives, increasing average rents, reducing operating expenses
and generating returns on cost ranging from 7.5% to 8.5%. These returns,
in markets where property income is valued at cap rates of, say, 5% to 5.5%,
create net asset value equal to 35% to 70% of the redevelopment spending.
Because we finance our redevelopment spending with non-recourse property
debt secured by the value created, we can safely borrow 90% or more of our
costs, producing impressive returns on equity. Best of all, it is a short cycle
business, and we can alter or even stop our spending on short notice if we are
not achieving our targeted outcomes.
Tim Beaudin has put in place an outstanding team of experienced real estate
professionals who created substantial net asset value in 2006, when Aimco spent
$180 million on conventional redevelopment. At year end, we had committed
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R E S U L T S
55.2% ANNUAL SHAREHOLDER RETURN
22 AIMCO’S RANKING IN S&P 500
TOTAL SHAREHOLDER RETURN
9.5% SAME STORE
NET OPERATING INCOME
(NOI) GROWTH
Aimco Capital Team Meeting
Vail, CO
Four Quarters Habitat
Kendall, FL
Chestnut Hill Village
Philadelphia, PA
Evanston Place
Evanston, IL
Palazzo at Park La Brea
Los Angeles, CA
to a total of a half billion dollars of conventional
redevelopment spending on 45 properties with
more than 18,000 units, and expect spending levels
to ramp up to $300 million or so in 2007. Tim’s
team is only getting better and has no shortage of
opportunities to pursue.
David Robertson has built an important business
for Aimco by redeveloping properties in our afford-
able portfolio using tax credit equity. Redevelopment
of rent-subsidized properties, those in which our
customers’ rents are subsidized by the government,
creates value in the same way as we do in our basic
redevelopment business…with the advantage of
the required equity being funded by institutional
purchasers of federal tax credits awarded by state
governments. Income from the transfer of tax credits is
deferred and recognized over the next decade, making
this a predictable source of future earnings that we
see as a growing part of Aimco’s business.
Harry Alcock, who assembled the Aimco portfolio
during the past dozen years, has largely been a seller
at the prices prevailing in the current market. Harry
sold properties for $3.6 billion dollars during the
past three years, reducing the portfolio by 62,700
units—while keeping the properties that we like
best. Harry is focused on a diversified portfolio
that balances near-term rent growth with longer-
term job growth. Thanks to Harry, we have avoid-
ed the very high prices and low current returns
that place investment outcomes at the mercy of
changes in investor sentiment. Harry is cautious,
and I agree with his strategy.
As most of you know, the capital markets are
somewhat frothy. It can be a treacherous time for
investing. Aimco is investing primarily where we
see opportunities for value-added activities, where
we rely on our own efforts—and the market—to
produce investment results.
David Robertson now heads all of our transaction businesses. He, Harry and Lance
Graber make a formidable team with the tough assignment to ferret out opportu-
nities that are not overpriced.
Aimco has preferred long duration liabilities, whether property debt or preferred
stock. Given that risk-free rates declined 123 basis points from 2000 to 2006
and credit spreads contracted another 113 basis points, we carried significant
above-market rate debt. That was my mistake. In 2006, there were substantial
opportunities to refund higher-cost liabilities with lower-cost capital. Tom Herzog
tasked Patti Fielding to lead this effort, and Patti and her team did a great job.
Better yet, she points out that there are more opportunities going forward to
lower our weighted average cost of capital.
Hopefully, you can sense my conviction that Aimco is “on plan” and executing
effectively. The feeling is palpable across the entire Aimco team. We all recognize
that we owe an enormous debt to Tom Herzog for our improved organization
and operational discipline. Under Tom and his team, there has been an explosion
of financial information that drives the business, enables improved execution and
increases financial discipline.
I should also mention Jim Purvis, head of Human Resources and Miles Cortez, our
General Counsel. Jim has been a key architect in designing Aimco organizational
structures and in recruiting key leaders; Miles has sorted out the contingent
liabilities created by our rapid growth and established the controls appropriate
for our scale and the world of regulation and litigation in which contemporary
business finds itself.
There are many others, too many to mention here, whose contributions have
been critical to the success of the past few years. It is my privilege and pleasure
to work with them.
In closing, I thank my colleagues on the Aimco Board: lead director Lanny Martin
together with Jim Bailey, Dick Ellwood, Dusty Rhodes and Mike Stein. You
have provided sage counsel and reliable friendship. The Aimco shareholders and
all Aimco are in your debt.
Sincerely,
Terry Considine
Chairman and CEO
5
Conventional Redevelopment Spending
4
Terry Considine, Chairman & Chief Executive Officer
Aimco Town Hall Meeting • Denver, CO
Flamingo
Miami Beach, FL
Aimco Team Members
Aimco Town Hall Meeting • Denver, CO
Aimco Conventional Operations
2006 was a banner year for Aimco’s Conventional Operations team. Together we achieved new highs
in occupancy, rents and NOI growth for a second year.
The team continues to build our foundation of operational excellence by deploying processes in fore-
casting and scheduling that increase apartment home availability with compressed cycle times, improved
product quality, lower costs and higher rents. We continue to invest in cost-effective automation that
improves performance and enables team members to focus on customer service.
Implementation of electronic revenue management, procurement, on-line rent payment, and lease
document generation systems is now complete; and we concluded a year-long effort to rewrite our
operating standards. An extension of our comprehensive automation program is underway.
Our commitment to operational excellence is matched only by the passion of more than 4,000
Conventional Operations team members who are dedicated to building better business practices within
a culture devoted to the consistent delivery of great customer experiences. We measure customer satis-
faction with the same discipline we use to measure sales, pricing, marketing and expense management.
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Our enhanced hiring processes, training and career development programs are improving both
performance and financial results.
469 communities
135,037 units
9.5% increase in same store
net operating income
6.8% increase in
same store revenue
94.4% average occupancy
Aimco Capital Operations and Asset Management
Aimco Capital is among the largest owners and operators of affordable multifamily properties in
the United States, with nearly 40,000 units in 36 states, the District of Columbia and Puerto Rico.
In addition to owning and operating real estate, we generate income and incremental net asset
value through the redevelopment of affordable properties with tax credit equity, and provide asset
management services to third-party investors. 2006 was a record year for Aimco Capital on many
fronts, including average rents and occupancy in the affordable portfolio, transaction revenues and
income, and tax credit equity raised.
Aimco Capital’s more than 1,200 property management professionals are passionate about providing
quality housing and support services to our residents, most of whom are senior citizens, disabled
adults, or individuals and families with fixed or limited incomes. In 2006, Aimco Capital team
members received 19 local and national awards for service and quality. We are very proud of the
essential work that our dedicated team members do each and every day.
Aimco Capital’s nationwide team of 65 asset management professionals had an exceptional year in
2006, with income, net of taxes, from transaction and asset management activities growing to $23 million,
up more than 40% from $16 million in 2005. In addition, investor commitments to fund tax credit
equity for redevelopment of affordable properties increased to $104 million, up nearly 60% from $66
million in 2005.
336 communities
38,934 units
$719 average rent
96.9% occupancy
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Improving Our Business
• electronic revenue management
• electronic procurement
• electronic lease document generation
• on-line rent payments
• on-line lease applications
$92 MILLION
AFFORDABLE PROPERTY NOI
R E S U L T S
$23 MILLION
NOI FROM ASSET MANAGEMENT
AND TRANSACTION INCOME
(NET OF TAX)
Elm Creek
Elmhurst, IL
One Lytle Place
Cincinnati, OH
Service Excellence Award Winner • Donna Casterline
Community Manager, Sandy Hill Terrace • Norristown, PA
with representatives of the National Affordable Housing Management Association
Copperwood Apartments
Houston, TX
Increasing Value: Portfolio Management
Portfolio management involves the allocation of investment
capital. As we think about portfolio management, we have two
central themes: we want a portfolio that is balanced; and we
don’t want to pay too much.
Our portfolio needs to be:
• BALANCED GEOGRAPHICALLY to provide for optimal risk adjusted returns.
At year-end 2006, our 469 conventional communities were located in 53 markets.
• BALANCED IN TERMS OF PRICE POINTS —We especially like lower price
point properties with high land values, because these support redevelopment
and entitlement activities.
• ACQUIRED AT THE RIGHT PRICE — Historical data shows that investing at
low cap rates without a value-added component has usually been a losing strategy.
There are, however, low cap rate markets that we like very much, and in fact we
have a very large investment today in low cap rate markets. Where we do invest
capital in these markets, we look for redevelopment opportunities so that the
Aimco investment is made at a higher cap rate.
In 2006, Aimco acquired nine properties for $177 million and sold
65 Conventional properties for more than $1.1 billion in gross sales
proceeds. In addition, Aimco closed on a transaction structured to
provide for the future acquisition of 87 properties containing 1,600
residential units and 42 commercial/retail stores located in the upper
Manhattan district of New York City.
Aimco also looks for the potential to pursue opportunities to increase
the uses permitted by local government for the land we already own.
As a result of our entitlement efforts through 2006 — we now have,
in effect, land for approximately 4,800 additional units — increasing
Aimco’s net asset value with modest incremental cost.
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Aimco Conventional Top 20 Markets
Current Top 20 Markets
Markets Exited in 2006 and
through 2Q 2007 (projected)
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R E S U L T S
9 PROPERTIES
ACQUIRED
65 CONVENTIONAL
PROPERTIES SOLD
$1.1+ BILLION GROSS
SALES PROCEEDS
New acquisition • BaLaye Apartments
Tampa, FL
Calhoun Beach Club
Minneapolis, MN
Riverside Park
Alexandria, VA
Bronson Place
Mountlake Terrace, WA
The Knolls
Colorado Springs, CO
Latrobe
Washington, D.C.
Redevelopment: Balancing Risk and Reward
Aimco is committed to ensuring that the upgrading of the physical property is matched
by improving the customer experience during all phases of the process.
Redevelopment and Construction Services teams work with Community Operations
teams to identify the best candidates for reinvestment opportunities and to generate
the highest return on Aimco’s redevelopment dollars. In 2006, this balance of risk and
reward resulted in redevelopment spending of $233.6 million in 54 communities and
19,938 units between our Conventional and Affordable businesses.
Our development pipeline also includes a commitment to achieve cost savings through
the deployment of energy conservation programs.
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active projects at year-end
19,938
units
$233.6 million
spent on redevelopment in 2006
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The Hillcreste
Los Angeles, CA
“I just moved into the community a couple of weeks
ago. I can honestly say that living here doesn’t even feel
like apartment living. It’s extremely quiet, the residents
are all very pleasant and everything is kept so clean!
I am thoroughly impressed and pleased.
I wanted to thank you for taking the time to show me
around Bayberry Hill Estates. You were the friendliest
relocation agent I have ever met. Your thoroughness
and professionalism would make anyone want to live
here. Thank you.”
Bayberry Hill Estates Resident, Framingham, MA
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Before • The Hillcreste
Los Angeles, CA
After • The Hillcreste
Los Angeles, CA
Before • The Lodge on the Chattahoochee
Atlanta, GA
After • The Lodge on the Chattahoochee
Atlanta, GA
Before • Four Quarters Habitat
Kendall, FL
After • Four Quarters Habitat
Kendall, FL
Yorktown
Lombard, IL
Yorktown
Lombard, IL
OUR SHARED VALUES:
integrity
respect
collaboration
customer-focused
performance
People
At Aimco, every employee is a valued team member. We believe in conducting our
business and serving our customers by living our shared values. To build a strong
Aimco, we want to attract and keep people who have a strong desire to create a
great working environment based on respect, collaboration and integrity.
2006 was a year of marked achievement in continuing to build upon Aimco’s
performance culture. Every team member has a performance plan called Managing
Aimco Performance (MAP) and the process is embraced from the front line all the
way to the CEO. It aligns individual performance with the achievement of Aimco’s
business goals and individual rewards.
During 2006, we took major steps to enhance our “Aimco Operating Manual —
Standards of Execution.” These standards serve as the foundation for our manager
development. Both the standards and the training reflect the expertise of our front
line operations management team. These new tools set us on a course for 2007
and beyond to build a “best in the industry” operations leadership team focused on
customer service and effective business execution. This will improve team member
retention and allow us to implement major productivity improvements forward.
Aimco’s Human Resources team is leading the way as we build the culture that recognizes
Aimco as a leading “employer of choice” in every market where we operate.
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“I have looked at over 15 competing properties recently and my
ability to rent a unit at your property with such an enjoyable and
professional team was so appreciated ...Thank you again for build-
ing this property, hiring such great people, and enabling me to be
able to share the Aimco experience.”
Belmont Place Resident, Atlanta, GA
R E S U L T S
110 INSTRUCTOR-LED TRAINING PROGRAMS
160 SELF-LEARNING E-MODULES
3 AVERAGE NUMBER OF CLASSES
COMPLETED PER TEAM MEMBER
Aimco Training
Team Members of Yacht Club
Miami, FL
Building Community Inside and Out
Aimco is a company with heart. During 2006, we expanded our
commitment to the Aimco Cares philanthropic program. Aimco Cares
helps build our culture of caring and strengthens the “Aimco Family”
by providing 10 company paid volunteer hours to each team member to
support local programs that make our communities better.
In 2006, Aimco launched the Aimco Family Foundation. Through
the foundation, the Aimco Cares Scholarship program awarded 25
higher education scholarships to children of Aimco team members.
The new Aimco Cares 4U fund assists team members and their families
who are in difficult circumstances from unexpected illness, accidents
and natural disasters.
Aimco also supports those who serve our country by providing full pay
and benefits to team members called to active duty in the military.
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“I would like to take a moment to let you
know how much I appreciate all of the hard
work done by Ms. Brown to get me back in
my apartment after Tropical Storm Ernesto.
I just wanted to let you all know that I’ll
never ever forget how she made our transition
moving back home a real blessing. Happy
New Year to you and your associates and
thanks again for allowing Ms. Brown to be
our Community Manager. Many thanks to
the maintenance staff and contractors also.”
City Line Resident, Newport News, VA
AIMCO FAMILY FOUNDATION
25 post-secondary scholarships awarded
AIMCO CARES 4U
Team member crisis fund
VOLUNTEERISM
Aimco provides 10 company paid volunteer hours
per team member each year
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“College is the stepping stone to
my success ... going to a higher
learning place is going to help me
succeed ... thanks Aimco for this
opportunity to help me achieve
my goals.”
Nathaniel Hughes, Fairborn, OH
Aimco Scholarship Recipient
Indianapolis, IN • Terry Considine receives Defense
Department award from Jerald Jones, Service Tech, Cheswick Vil-
lage, for support of team members who serve in the military.
Habitat for Humanity • Risk Management
Denver, CO
Tropical Storm Ernesto Clean-up • City Line
Newport News, VA
Kephart Plaza
Lockhaven, PA
Son of Aletha Hughes, Community Manager
The Terraces, Kettering, OH
Eight of the 25 Aimco Cares Scholarship Winners
Patti K. Fielding
Executive Vice President,
Securities and Debt; and Treasurer
Duke Daugherty
Senior Vice President,
Risk Management
BOARD OF DIRECTORS
Terry Considine
Chairman of the Board,
Chief Executive Officer and President
James N. Bailey
Director, Chairman of the Nominating
and Corporate Governance Committee
senior managing director,
cambridge associates, llc
Richard Ellwood
Director, private investor
J. Landis Martin
Lead Independent Director,
Chairman of the Compensation
and Human Resources Committee
founder and managing director,
platte river ventures, llc
Thomas L. Rhodes
Director,
chairman and president,
national review
Michael A. Stein
Director, Chairman
of the Audit Committee
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ADVISORY BOARD
Roy H. Lambert, Sr.
Vero Beach, Florida
Richard Morton
Miami, Florida
Charles R. Considine
Emeritus
EXECUTIVE OFFICERS
Jeffrey W. Adler
Executive Vice President,
Conventional Property Operations
Harry G. Alcock
Executive Vice President and
Chief Investment Officer
Timothy J. Beaudin
Executive Vice President and
Chief Development Officer
Miles Cortez
Executive Vice President,
General Counsel and Secretary
Scott W. Fordham
Senior Vice President and
Chief Accounting Officer
Lance J. Graber
Executive Vice President, Aimco Capital
Asset Management & Transactions, East
Thomas M. Herzog
Executive Vice President and
Chief Financial Officer
James G. Purvis
Executive Vice President,
Human Resources
David Robertson
Executive Vice President; President
and CEO, Aimco Capital
Robert Y. Walker, IV
Executive Vice President;
and Conventional Property
Operations Chief Financial Officer
SENIOR, DIVISION
AND REGIONAL
VICE PRESIDENTS
SENIOR VICE PRESIDENTS
CORPORATE
Scott Anderson
Senior Vice President,
Technical Accounting Standards
Richard K. Barrett
Senior Vice President,
Strategic Sourcing
Donald Baumann, Jr.
Senior Vice President,
Income Development
Lisa R. Cohn
Senior Vice President,
Assistant General Counsel
and Assistant Secretary
Steven Cordes
Senior Vice President, Transactions
Stephen D. Crane
Senior Vice President, Property Tax
Michael Dodds
Senior Vice President,
Conventional Operations
Melanie G. French
Senior Vice President,
Learning and Organizational
Development
Terri C. Heredia
Senior Vice President, Talent
Eric L. Hilty
Senior Vice President,
Assistant General Counsel
and Assistant Secretary
Becky Holeman
Senior Vice President, Controller
Sherlyn M. Keiling
Senior Vice President,
Performance Excellence
Martha L. Long
Senior Vice President,
Partnership Transactions
Dennis Martin
Senior Vice President,
Strategic Initiatives
H. Lynn Stanfield
Senior Vice President, Tax
R. Scott Wesson
Senior Vice President and
Chief Information Officer
Craig Zeutzius
Senior Vice President,
Porfolio Management
CONVENTIONAL PROPERTY
OPERATIONS
DIVISION VICE PRESIDENTS
Anthony D’Alto
Division Vice President, Gulf
Michael Karsner
Division Vice President, East
Peter K. Kompaniez
Founder and
Division Vice President, Pacific
Thomas Seeger
Division Vice President, Midwest
REGIONAL VICE PRESIDENTS
John Angelo
Regional Vice President, Orlando
R. Lee Montgomery
Senior Vice President,
Revenue Management/Analytics
Lynn Bora
Regional Vice President, Boston
and Philadelphia
Leeann Morein
Senior Vice President,
Performance Management
William Porter
Senior Vice President, Acquisitions
Brian Shuman
Senior Vice President,
Financial Planning and Analysis
Patti Shwayder
Senior Vice President, Government
Relations and Communications
John Spiegleman
Senior Vice President,
Assistant General Counsel
and Assistant Secretary
Joe Borges
Regional Vice President, Houston
David H. Carline
Regional Vice President, Columbus
Paul Gioia
Regional Vice President, Chicago
Stewart Grounds
Regional Vice President, Dallas
Regina Harris
Regional Vice President, Tidewater
Jeffrey Kimes
Regional Vice President, Denver
Keith Kimmel
Regional Vice President, California
Dan J. Kistel
Regional Vice President, Tampa
R. Dennis O’Riley
Regional Vice President, Atlanta
Stephen C. Peters
Regional Vice President, Phoenix
Susan Ridgeway
Regional Vice President, Rockville
Joe Suarez
Regional Vice President, South Florida
Charles Viale
Regional Vice President, Indianapolis
AIMCO CAPITAL
SENIOR, DIVISION AND
REGIONAL VICE PRESIDENTS
Jimmy K. Arnold
Regional Vice President,
Operations, West
Kathleen Danilchick
Senior Vice President,
Finance
Derik Hart
Senior Vice President,
Asset Management &
Transactions, West
Michael J. Hornbrook
Senior Vice President,
Asset Management &
Transactions, Central
Carl J. Ruff, Sr.
Senior Vice President,
Operations, Central
Bruce Schroder
Senior Vice President and
Chief Operating Officer
Peter Stoughton
Senior Vice President,
Legal
Jeffrey Sussman
Senior Vice President,
Legal
O. Cooper Winston
Regional Vice President,
Operations, Northeast
DEVELOPMENT
John Bezzant
Senior Vice President, Development
Chris Bishop
Senior Vice President, Development
Dennis Bunting
Senior Vice President,
Construction Services
Andrew Cretal
Senior Vice President, Development
Robert de Grasse
Senior Vice President,
Technical Standards
Brad Hodack
Senior Vice President,
Construction Services
Gary Holt
Senior Vice President,
Construction Services
Anthony V. Ianuale
Senior Vice President, Development
Daniel Matula
Senior Vice President, Development
Charles McPhee
Senior Vice President, Development
Michael Mercier
Senior Vice President, Development
Randall J. Mullen
Senior Vice President,
Construction Services
Ralph Pickett
Senior Vice President, Development
Gary Polodna
Senior Vice President, Development
Chris Shore
Senior Vice President,
Construction Services
Paul Springthorpe
Senior Vice President,
Head of Construction Services
Betsy Weingarten
Senior Vice President, Development
CORPORATE OFFICE
Stanford Place 3
4582 South Ulster Street Parkway
Suite 1100
Denver, CO 80237
Telephone: 303.757.8101
Toll Free: 888.789.8600
www.aimco.com
STOCK LISTING
New York Stock Exchange Symbols:
AIV, AIVPRG, AIVPRT, AIVPRU,
AIVPRV, AIVPRY
LIMITED PARTNER
INVESTOR RELATIONS
P.O. Box 2347, Greenville, SC
Telephone 864.239.1029
Fax 864.239.5812
E-mail: partners@aimco.com
STOCK TRANSFER AGENT
AND REGISTRAR
Computershare Trust Company, N.A.
P.O. Box 43078
Providence, RI 02940-3078
Telephone 800.730.6001
www.computershare.com
INVESTOR RELATIONS
INDEPENDENT AUDITORS
Toll Free: 888.789.8600
Telephone 303.691.4350
Fax 303.300.3269
Elizabeth Coalson
Vice President • Investor Relations
Telephone 303.691.4327
Fax 303.713.6902
Ernst & Young LLP
Denver, Colorado
Readers should carefully review Aimco’s financial statements
and notes thereto, as well as the risk factors described in Aimco’s
Annual Report on Form 10-K for the year ended December 31,
2006, and other documents filed from time to time with the
Securities and Exchange Commission.
In 2006, our CEO submitted his annual unqualified corporate
governance listing standards certification to the NYSE.
Stanford Place 3
4582 South Ulster Street Parkway
Suite 1100
Denver, CO 80237
Telephone: 303.757.8101
Toll Free: 888.789.8600
www.aimco.com