Aimco Provides Update on Wildfires in California

DENVER--(BUSINESS WIRE)-- Apartment Investment and Management Company (“Aimco”) (NYSE: AIV) announced today that the wildfires raging throughout Northern and Southern California have not caused damages material to the financial condition of the Company.

In Southern California, Aimco’s Malibu Canyon Apartments are located within the Woolsey Fire boundaries. Government authorities ordered its evacuation, which was safely completed on Thursday, November 8. The evacuation order ended Tuesday, November 13 and Aimco is now evaluating the physical condition of the property and restoring it to normal operations. Aimco team members have quickly enlisted third-party vendors to assist with clean-up and restoration as may be necessary.

“During this dangerous time, our highest priority is the safety of our residents and teammates. We are grateful that all are secure. We offer sincere thanks to the brave firefighters and other first responders who put themselves at risk to fight the fires. We pray for their safety and the safety of all who are in peril,” said Aimco Chairman/CEO Terry Considine.

The fires continue and Aimco will provide further updates as appropriate.

About Aimco

Aimco is a real estate investment trust focused on the ownership and management of quality apartment communities located in select markets in the United States. Aimco is one of the country’s largest owners and operators of apartments, with ownership interests in 133 communities in 17 states and the District of Columbia. 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.

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Aimco Investor Relations

(303) 793-4661

[email protected]

Suzanne Sorkin
Vice President, Investor Relations/FP&A

Source: Aimco