THE DEAL OF THE CENTURY.

AIMCO Becomes Largest Multifamily Housing Provider Upon Completion of Insignia Merger

Following its acquisition of Insignia Financial Group's multifamily holdings, Apartment Investment and Management Company (AIMCO) has become the largest private provider of rental housing in the world, operating more than 2,000 communities, including nearly 400,000 apartment units, or one-third of all apartment units owned by the 23 publicly traded multifamily real estate investment trusts (REITs). AIMCO will serve approximately 1 million residents, according to AIMCO President Peter Kompaniez.

AIMCO shareholders recently voted to approve the acquisition of Insignia Financial Group and its multifamily business. Insignia shareholders voted their approval just prior to the AIMCO shareholders' vote. Before the acquisition, AIMCO, through its subsidiaries, owned or controlled 58,890 apartment units in 213 apartment communities and had an equity interest in 73,444 units in 472 communities. In addition, AIMCO managed 68,253 apartment units in 357 communities for third par ties and affiliates, bringing the total owned and managed portfolio to 200,587 units in 1,042 communities.

Headquartered in Denver, Colorado, with 15 regional operating centers, AIMCO holds a geographically diversified portfolio of apartment communities located in 49 states, the District of Columbia, and Puerto Rico.

Prior to the merger, Insignia, a fully integrated real estate services company based in Greenville, South Carolina, was the largest manager of multifamily residential properties in the United States.