7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-12-31 2014-09-30 2014-06-30 2014-03-31 2013-12-31 2013-09-30 2013-06-30 2013-03-31 2012-12-31 2012-09-30 2012-06-30 2012-03-31 2011-09-30 2011-06-30 2011-03-31 2010-03-31 2009-12-31 2009-09-30 2009-06-30 2009-03-31 2008-03-31 2007-12-31 
      
    		                                                                 
      cash flows from operating activities:
    		                                                                 
      net income
    		302,993,000 -16,976,000 -11,712,000 -7,636,000 -20,065,000 -61,103,000 -7,196,000 -153,367,000 1,657,000 144,000 -5,753,000 -205,338,000 34,173,000 253,211,000 10,112,000 -1,182,000 -4,846,000 -20,386,000 21,434,000 -33,137,000 -24,815,000 43,204,000 8,977,000 142,766,000 3,970,000 69,996,000 291,295,000 9,840,000 603,917,000 7,156,000 95,690,000 286,189,000 22,144,000 21,591,000 17,155,000 177,399,000 30,036,000 245,953,000 29,885,000 75,376,000 23,769,000 68,688,000 104,150,000 45,459,000 144,515,000 84,605,000 81,532,000 148,603,000 79,410,000 6,979,000 2,833,000 97,248,000 53,335,000 34,131,000 10,647,000 4,657,000 -26,971,000 -27,277,000 -16,760,000 4,956,000 -9,556,000 -7,631,000 -32,569,000 -24,546,000 -12,281,000 
      adjustments to reconcile net income to net cash from operating activities:
    		                                                                 
      depreciation and amortization
    		12,138,000 16,363,000 16,421,000 21,236,000 23,545,000 22,110,000 19,468,000 17,728,000 17,804,000 17,031,000 16,271,000 15,547,000 85,439,000 34,863,000 23,118,000 21,647,000 21,709,000 20,639,000 20,717,000 -218,449,000 98,249,000 97,689,000 100,476,000 97,144,000 97,538,000 91,924,000 93,565,000 91,347,000 96,406,000 97,485,000 92,548,000 97,348,000 92,513,000 89,155,000 87,168,000 87,710,000 84,848,000 80,680,000 79,828,000 79,482,000 77,237,000 75,150,000 74,432,000 71,465,000 69,437,000 71,399,000 70,307,000 62,640,000 70,652,000 78,287,000 80,331,000 80,099,000 79,598,000 91,063,000 94,317,000 94,622,000 92,206,000 100,911,000 109,019,000 88,733,000 114,766,000 117,699,000 123,215,000 126,524,000 117,446,000 
      realized and unrealized (gains) losses on interest rate contracts
    		101,000 72,000 261,000 -588,000 1,148,000                                                             
      realized and unrealized (gains) losses on equity investments
    		4,868,000 210,000 397,000 1,403,000 566,000 47,264,000 271,000 -535,000 1,066,000 -1,094,000 -137,000                                                       
      income tax expense
    		-116,000 5,571,000 -85,000 -2,340,000 -3,814,000 -2,187,000 -2,730,000 -1,929,000 -6,210,000 -417,000 -4,196,000 -7,074,000 -17,563,000             -1,827,000 2,981,000                                       
      share-based compensation expense
    		1,670,000 1,406,000 1,136,000                                                               
      loss (income) from unconsolidated real estate partnerships
    		-430,000 -381,000 -544,000 -349,000                                                              
      impairment on real estate
    		                                                                 
      other, including amortization of debt issuance costs
    		973,000 1,379,000 2,901,000                                                               
      discontinued operations:
    		                                                                 
      income tax (benefit) expense
    		                     -2,879,000 -3,233,000                                           
      gain on dispositions of real estate
    		       -6,106,000 0            0 -47,238,000 34,000   -64,310,000 -291,473,000                                       
      other adjustments to income from discontinued operations
    		                                                                 
      changes in operating assets and operating liabilities:
    		                                                                 
      operating assets
    		4,640,000 429,000 -3,163,000 -6,248,000 958,000 -4,497,000 -3,568,000                                                           
      operating liabilities
    		-4,325,000 1,593,000 -1,784,000 -3,077,000 2,476,000 637,000 12,446,000                                                           
      total adjustments
    		-294,068,000 26,642,000 15,540,000 8,464,000 36,503,000 69,109,000 28,908,000 161,283,000 23,209,000 11,942,000 11,352,000 181,318,000 168,701,000 -234,344,000 -3,601,000                                                   
      net cash from operating activities
    		8,925,000 9,666,000 3,828,000 828,000 16,438,000 8,006,000 21,712,000 7,916,000 24,866,000 12,086,000 5,599,000 -24,020,000 202,874,000 18,867,000 6,511,000 -9,499,000 5,619,000 14,142,000 2,324,000 -218,030,000 81,519,000 106,941,000 77,416,000 95,724,000 108,709,000 88,422,000 81,617,000 93,462,000 117,300,000 104,303,000 81,323,000 109,114,000 109,012,000 107,497,000 68,516,000 101,268,000 99,691,000 102,812,000 73,953,000 101,447,000 101,140,000 92,653,000 64,651,000 88,035,000 89,110,000 89,478,000 54,801,000 77,473,000 75,097,000 124,134,000 48,892,000 74,530,000 90,265,000 103,560,000 48,472,000 81,173,000 67,528,000 27,680,000 26,778,000 96,441,000 77,970,000 77,175,000 -17,774,000 54,251,000 133,040,000 
      cash flows from investing activities:
    		                                                                 
      capital expenditures
    		-28,257,000 -26,426,000 -19,191,000 -46,158,000 -36,009,000 -36,924,000 -40,936,000 -60,302,000 -82,276,000 -65,105,000 -64,814,000 -53,475,000 -59,235,000 -75,157,000 -49,656,000 -42,954,000 -52,503,000 -50,694,000 -31,658,000 248,380,000 -89,921,000 -87,506,000 -94,842,000 -100,712,000 -116,261,000 -90,942,000 -85,546,000 -87,340,000 -89,033,000 -88,515,000 -75,601,000 -91,481,000 -90,235,000 -94,237,000 -82,151,000 -87,322,000 -93,293,000 -86,454,000 -79,576,000 -89,605,000 -104,500,000 -101,333,000 -71,742,000 -90,110,000 -94,790,000 -88,182,000 -94,242,000 -75,222,000 -111,748,000 -97,304,000 -66,064,000 -81,839,000 -70,940,000 -61,037,000 -56,394,000 -56,581,000 -31,613,000 -30,236,000 -39,057,000 -82,453,000 -70,554,000 -78,967,000 -68,370,000 -150,823,000 -233,342,000 
      free cash flows
    		-19,332,000 -16,760,000 -15,363,000 -45,330,000 -19,571,000 -28,918,000 -19,224,000 -52,386,000 -57,410,000 -53,019,000 -59,215,000 -77,495,000 143,639,000 -56,290,000 -43,145,000 -52,453,000 -46,884,000 -36,552,000 -29,334,000 30,350,000 -8,402,000 19,435,000 -17,426,000 -4,988,000 -7,552,000 -2,520,000 -3,929,000 6,122,000 28,267,000 15,788,000 5,722,000 17,633,000 18,777,000 13,260,000 -13,635,000 13,946,000 6,398,000 16,358,000 -5,623,000 11,842,000 -3,360,000 -8,680,000 -7,091,000 -2,075,000 -5,680,000 1,296,000 -39,441,000 2,251,000 -36,651,000 26,830,000 -17,172,000 -7,309,000 19,325,000 42,523,000 -7,922,000 24,592,000 35,915,000 -2,556,000 -12,279,000 13,988,000 7,416,000 -1,792,000 -86,144,000 -96,572,000 -100,302,000 
      proceeds from dispositions of real estate
    		                    0    7,000 80,373,000 342,083,000 384,000 632,147,000 6,529,000 69,788,000 391,135,000 112,000 8,736,000 2,179,000 210,169,000 26,653,000 289,090,000 9,601,000 139,660,000 0 94,606,000 133,305,000 75,357,000 325,832,000 138,773,000 100,082,000 236,578,000 112,776,000 5,062,000 2,898,000 199,689,000 131,346,000 75,173,000 78,696,000 100,424,000 65,299,000 22,014,000 27,682,000 313,188,000 296,806,000 212,307,000 53,630,000 33,351,000 74,920,000 
      other investing activities
    		2,210,000 437,000 -557,000 -851,000 -526,000 572,000 -153,000 454,000 554,000 2,990,000 1,580,000 746,000 -1,177,000 -43,000 -73,000 -11,813,000 -10,703,000 -1,435,000 -49,000 10,929,000 -10,403,000 -2,719,000 4,665,000 -7,956,000 -1,878,000 1,064,000 1,422,000 -3,203,000 -384,000 2,297,000 -218,000 -503,000 -1,819,000 639,000 94,000 120,000 121,000 4,804,000 5,209,000 27,376,000 -25,363,000 3,939,000 -699,000 6,309,000 4,301,000 5,302,000 -8,749,000 6,785,000 3,492,000 18,152,000 -7,478,000 -43,962,000 3,157,000 -665,000 4,785,000 6,941,000 2,656,000 9,434,000 6,269,000 9,584,000 6,919,000 11,584,000 8,869,000 10,623,000 32,420,000 
      net cash from (used) in investing activities
    		                                                                 
      cash flows from financing activities:
    		                                                                 
      proceeds from non-recourse construction loans and bridge financing
    		                                                                 
      proceeds from revolving credit facility
    		1,000,000                                                                 
      principal repayments on non-recourse property debt
    		-68,214,000 -812,000 -817,000 -805,000 -792,000 -785,000 -784,000 -23,665,000 -768,000 -60,762,000 -779,000 -17,866,000 -736,000 -281,725,000 -2,101,000 -2,076,000 -1,976,000 -2,157,000 -18,174,000 618,161,000 -428,007,000 -251,725,000 -22,622,000       -50,882,000 -206,262,000 -158,493,000 -159,254,000 -59,394,000 -32,026,000 -118,619,000 -194,061,000 -40,088,000 -19,179,000 -95,550,000 -28,510,000 -249,376,000 -140,858,000 -136,886,000 -197,974,000 -116,358,000 -62,381,000 -176,551,000 -142,193,000 -49,349,000 -104,183,000 -154,893,000 -118,952,000 -97,810,000 -76,137,000           
      principal repayments on non-recourse construction loans and bridge financing
    		                                                                 
      principal repayments on revolving credit facility
    		                                                                 
      payments of deferred loan costs
    		   -2,016,000    0 0   -7,022,000 -1,624,000    -456,000                                                 
      proceeds from interest rate contracts
    		304,000 293,000 823,000 1,214,000 1,529,000                                                             
      common stock repurchased
    		0 0 -256,000 -4,801,000 -3,157,000 -24,432,000 -6,555,000 -10,074,000 -14,378,000 -7,869,000 -14,522,000 -19,073,000 0 -3,102,000 -1,317,000                                                   
      payments related to withholding taxes for share-based compensation
    		-783,000 -1,406,000 -2,139,000    -567,000                                                           
      dividends paid on common stock and distributions paid on op units
    		                                                                 
      contributions from redeemable noncontrolling interests
    		4,042,000 4,034,000 2,877,000 5,019,000 1,240,000   0 0 1,000 124,000 158,000                                                      
      distributions to redeemable noncontrolling interests
    		-2,057,000 -2,057,000 -2,010,000 -2,029,000 -2,198,000 -2,057,000 -2,034,000 -2,033,000 -2,058,000 -2,057,000 -3,095,000 -8,448,000                                                      
      contributions from noncontrolling interests
    		177,000 177,000 174,000 183,000 194,000 194,000 485,000 38,000 71,000 113,000 50,000 0                                                      
      distributions to noncontrolling interests
    		-396,000 -344,000 -430,000 -451,000 -326,000 -436,000 -401,000 -406,000 -288,000 -310,000 -287,000 -310,000                                                      
      redemption of op units held by third parties
    		-379,000 -70,000 -106,000 -298,000 -285,000 -115,000 -285,000                                                           
      purchase of redeemable noncontrolling interests in consolidated real estate partnerships
    		0                                                                 
      other financing activities
    		-1,369,000 -572,000 1,022,000 1,093,000 -3,032,000   -23,000 -704,000 -3,595,000 571,000 -184,000 105,000 1,098,000 -1,216,000 -7,906,000 -233,000 -272,000 -354,000 477,000 9,339,000 -23,954,000 -365,000 4,427,000 3,821,000 -10,987,000 302,000 5,648,000 -374,000 -3,053,000 3,012,000 -2,889,000 -4,377,000 -2,114,000 2,167,000 7,937,000 8,842,000 -8,008,000 -1,681,000 -2,633,000 -2,089,000 -773,000 -1,657,000 -4,123,000 -3,403,000 -6,857,000 9,911,000 -2,641,000 -12,696,000 -6,951,000 14,153,000 -2,873,000 -1,003,000 -18,622,000 9,743,000 -18,410,000 -6,367,000 409,000 14,221,000 2,281,000 3,818,000 -26,401,000 6,026,000 6,244,000 -12,026,000 
      net cash from financing activities
    		-99,376,000 7,351,000 -79,799,000 -83,240,000 21,490,000 -2,659,000 20,513,000 11,738,000 36,143,000 55,046,000 16,503,000 66,138,000 -114,170,000 -88,240,000 37,978,000 46,087,000 76,501,000 109,900,000 -27,817,000 189,212,000 -59,637,000 22,807,000 217,712,000 178,161,000 132,139,000 -166,025,000 -208,227,000 -7,890,000 -684,750,000 17,665,000 86,795,000 -376,852,000 -20,108,000 -17,893,000 21,552,000 -224,420,000 -27,458,000 -22,901,000 5,283,000 -140,721,000 29,137,000 -106,017,000 50,425,000 13,747,000 -270,738,000 -78,830,000 -26,061,000 -453,695,000 -22,008,000 66,431,000 -10,178,000 -168,077,000 -366,274,000 148,542,000 -49,338,000 -105,960,000 -31,046,000 -56,625,000 -38,989,000 -366,641,000 -319,531,000 -216,540,000 -179,770,000 11,905,000 -277,616,000 
      net increase in cash, cash equivalents, and restricted cash
    		357,098,000 -8,972,000 -95,719,000                -63,430,000  -174,017,000          -3,510,000                                   
      cash, cash equivalents, and restricted cash at beginning of year
    		0 0 172,956,000                                                               
      cash, cash equivalents and restricted cash at end of period
    		357,098,000 -8,972,000 77,237,000  1,010,000 -31,005,000 140,403,000  -76,480,000 3,731,000 188,634,000 4,325,000 131,132,000 -83,314,000 177,623,000        374,816,000 84,477,000 27,318,000 -132,482,000 198,389,000 -31,704,000 -34,641,000                                     
      net cash from investing activities
    		 -25,989,000 -19,748,000 144,960,000 -36,918,000 -36,352,000 -41,089,000 3,728,000 -137,489,000 -63,401,000 -63,234,000 -37,793,000 42,428,000 -13,941,000 -111,448,000 -54,767,000 -114,592,000 -64,114,000 -37,937,000 226,644,000 -195,899,000 -62,056,000 -98,014,000 -189,408,000 -213,530,000 -54,879,000 252,404,000 -117,276,000 532,809,000 -122,059,000 -171,628,000 288,843,000 -96,985,000 -90,916,000 -86,238,000 136,488,000 -79,550,000 -89,140,000 -65,571,000 44,822,000 -131,871,000 -104,291,000 20,443,000 -101,997,000 176,988,000 -15,224,000 -46,089,000 364,351,000 -32,390,000 -193,200,000 -73,569,000 75,445,000 65,560,000 -22,372,000 -6,966,000 15,294,000 -32,518,000 -1,020,000 8,826,000 244,426,000 236,481,000 158,246,000 -8,899,000 -113,534,000 17,543,000 
      proceeds from non-recourse construction loans
    		 12,748,000 9,589,000 245,561,000 32,641,000 23,358,000 28,982,000                                                           
      principal repayments on non-recourse construction loans
    		                                                                 
      purchase of interest rate contracts
    		 -263,000 -313,000                                                               
      dividends paid on common stock and op units
    		 0 -88,213,000                                                               
      mezzanine investment (income) loss
    		       154,801,000 756,000 129,000 128,000                                                       
      share-based compensation
    		   1,637,000 1,587,000 1,604,000 1,666,000 1,589,000 1,667,000 1,446,000 4,519,000 1,009,000 1,949,000                                                     
      loss on extinguishment of debt
    		       9,000 0   85,000 1,419,000                                                     
      lease modification income
    		           0 -1,576,000                                                     
      net cash received from lease incentive
    		                                                                 
      purchases of real estate
    		       0 0   877,000 -29,364,000 -53,266,000 -47,492,000 0 -51,386,000 -11,985,000 -6,230,000              -3,517,000 -3,194,000 -4,995,000  -281,833,000 -3,844,000 -2,275,000  -943,000 -100,464,000 -40,800,000  -118,482,000 -1,111,000 -12,870,000  -31,283,000 -18,548,000 -896,000              -2,436,000 
      investment in iqhq
    		           0 0 0 -14,227,000                                                   
      redemption of iqhq investment
    		           0                                                      
      distributions received from unconsolidated real estate partnerships
    		       0 0                                                         
      investment in unconsolidated real estate partnerships
    		   0    -405,000 -1,994,000   -2,790,000 -634,000                                                     
      proceeds from dispositions of unconsolidated real estate partnerships
    		                                                                 
      purchase of treasury bill
    		       0                                                          
      proceeds from treasury bill
    		                                                                 
      proceeds from non-recourse property debt
    		           81,500,000 60,000,000 574,720,000 40,000,000     -568,756,000 0       867,414,000 0 0 360,613,000 146,649,000 97,250,000 0 68,535,000 227,000,000 152,453,000 30,495,000 7,766,000 119,608,000 35,348,000 179,173,000 18,473,000 105,373,000 20,156,000 23,444,000 39,530,000 45,323,000 76,635,000 29,349,000 81,658,000 108,959,000 18,640,000 100,080,000 15,574,000           
      proceeds from sale of participation in mezzanine investment
    		       0 0                                                         
      principal repayments on notes payable to air
    		           0 -147,039,000                                                     
      payments on finance leases
    		      -175,000 -473,000 -698,000 -727,000 -796,000 -416,000 -431,000                                                     
      payments of prepayment premiums
    		           -61,000 -4,345,000                                                     
      dividends paid on common stock
    		                                                                 
      redemption of redeemable noncontrolling interests
    		           0                                                      
      redemption of noncontrolling interest in real estate partnership
    		                                                                 
      purchase of noncontrolling interests in consolidated real estate partnerships
    		                                                                 
      cash, cash equivalents and restricted cash at end of year
    		                                                                 
      amortization of debt issuance costs and other
    		    7,760,000 5,076,000 3,339,000 765,000 684,000 306,000 808,000 638,000 728,000 607,000 814,000 583,000 192,000 371,000 238,000                                               
      net decrease in cash, cash equivalents, and restricted cash
    		    1,010,000 -31,005,000 1,136,000 23,382,000 -76,480,000 3,731,000 -41,132,000 4,325,000 131,132,000 -83,314,000 -66,959,000  -32,472,000                                                 
      cash, cash equivalents, and restricted cash at beginning of period
    		    0 0 139,267,000  0 0 229,766,000 0 0 0 244,582,000 0 0 0 298,735,000 -167,582,000 0          142,541,000                                   
      income from unconsolidated real estate partnerships
    		     -258,000 -312,000 -261,000 -319,000 -121,000 -174,000 -120,000 -159,000 -44,000 -256,000 -230,000 -235,000 -253,000 -255,000                                               
      realized and unrealized (gains) losses on interest rate options
    		      -1,672,000 2,161,000 -954,000 -3,383,000 1,057,000                                                       
      proceeds from interest rate options
    		      1,847,000 1,724,000                                                          
      other assets
    		       -1,722,000 3,301,000 -3,482,000 2,238,000 -4,865,000 20,341,000 -21,189,000 6,752,000 -7,481,000 230,000 8,071,000 -19,231,000                                               
      accrued liabilities and other
    		       -5,217,000 5,414,000 2,476,000 -9,162,000 -21,922,000 -2,106,000 2,097,000 -5,625,000                                                   
      proceeds from disposition of real estate
    		           16,849,000 116,365,000                                                     
      proceeds from construction loans
    		       47,022,000 54,271,000 37,661,000 35,491,000 38,920,000 20,679,000 17,982,000 15,625,000 22,865,000 22,182,000                                                 
      principal repayments on construction loans
    		           0                                                      
      purchase of interest rate options
    		       0    -2,397,000 -2,772,000                                                     
      redemption of op units
    		       -372,000 -88,000 -367,000 -254,000                                                       
      proceeds from interest rate option
    		            1,805,000                                                     
      impairment
    		                                                                 
      mezzanine investment
    		           204,229,000 -8,423,000 -8,330,000 -8,237,000                                                   
      gain on disposition of real estate
    		           -5,859,000 -75,539,000                                                     
      net cash received from development property lease terminations
    		           0                                                      
      change in aimco predecessor investment
    		                                                                 
      dividend paid on common stock
    		           0                                                      
      redemption of noncontrolling interests
    		           0                                                      
      realized and unrealized gains on interest rate options
    		                                                                 
      realized and unrealized gains on equity investments
    		                                                                 
      redemption of common and preferred op units
    		            -76,000                                                     
      unrealized gains on interest rate options
    		             -11,982,000 -18,778,000                                                   
      realized gain on interest rate option
    		                                                                 
      gain on equity investment redemption
    		                                                                 
      distributions to noncontrolling interests in real estate partnerships
    		                                                                 
      contributions from noncontrolling interests in consolidated real estate partnerships
    		             0 9,718,000                                                   
      contributions from redeemable noncontrolling interests in consolidated real estate partnerships
    		             13,513,000 6,879,000                                                   
      redemption of redeemable noncontrolling interests in consolidated real estate partnerships
    		             0 -5,094,000                                                   
      income tax benefit
    		              -4,056,000 -3,689,000 -2,021,000 -2,760,000 -5,100,000     -1,193,000    56,697,000 -27,941,000 -4,395,000 -37,388,000                                   
      share based compensation
    		              2,667,000 1,521,000 1,936,000 1,110,000 704,000                                               
      payments on financing leases
    		              -24,516,000   -1,434,000 -3,699,000                                               
      unrealized (gains) losses on interest rate options
    		               4,099,000 -2,231,000                                                 
      payment for mezzanine investment and related transaction costs
    		                                                                 
      proceeds from notes payable to air
    		                                                                 
      contribution from noncontrolling interests in consolidated real estate partnerships
    		                   -443,417,000    0                                          
      contribution from redeemable interests in real estate partnerships
    		                                                                 
      adjustments to reconcile net (loss) to net cash from operating activities:
    		                                                                 
      mezzanine investment income
    		                -7,636,000 -7,551,000 -7,467,000                                               
      accounts payable, accrued liabilities and other
    		                -1,479,000 -2,069,000 16,631,000                                               
      proceeds from non-recourse debt
    		                                                                 
      principal payments on finance leases
    		                                                                 
      purchase of interest rate option
    		                -133,000 -182,000 -5,590,000                                               
      cash, cash equivalents, and restricted cash at end of period
    		                -32,472,000 59,928,000 235,305,000  -174,017,000          139,031,000                                   
      unrealized (gains) on interest rate options
    		                  -25,347,000                                               
      unrealized gain on interest rate option
    		                                                                 
      accounts receivable and other
    		                                                                 
      net increase in cash, cash equivalents and restricted cash
    		                      197,114,000 84,477,000   125,794,000 -31,704,000 -34,641,000                                     
      other adjustments
    		                    4,206,000 4,254,000 3,157,000  3,986,000 3,242,000 3,201,000  9,455,000 2,023,000 284,000  -9,180,000 -1,561,000 -3,741,000  -150,000 -1,631,000 -8,749,000  -5,885,000 -2,757,000 -8,495,000  -2,758,000 -1,876,000 3,425,000  5,458,000 1,855,000 -415,000  119,000 -10,800,000 2,651,000 -12,049,000 4,281,000 4,782,000 -6,504,000  30,888,000 13,789,000 10,126,000 943,000  
      net changes in operating assets and operating liabilities
    		                    5,626,000 11,911,000 -31,995,000  7,457,000 -10,603,000 -17,952,000  7,548,000 2,256,000 -19,487,000  3,302,000 -180,000 -32,460,000  -545,000 -5,649,000 -20,824,000  6,019,000 -3,647,000 -19,743,000  2,832,000 2,012,000 -30,971,000  -19,110,000 39,786,000 -31,382,000  11,447,000 20,711,000 -29,860,000 20,698,000 10,530,000 -48,038,000 -36,951,000  2,820,000 -9,128,000 -99,531,000 -49,828,000  
      purchases of real estate and deposits related to purchases of real estate
    		                    -90,779,000 -5,061,000 -2,733,000 -6,698,000 -87,870,000 -41,507,000 -2,236,000 -29,939,000 -7,040,000 -40,668,000 -164,650,000                                   
      purchases of corporate assets
    		                    -4,796,000 -3,639,000 -5,104,000 -2,759,000 -7,639,000 -3,867,000 -3,319,000 -2,188,000 -2,881,000 -1,702,000 -947,000 -1,541,000 -1,353,000 -3,195,000 -2,810,000 -1,068,000 -2,047,000 -2,661,000 -1,764,000 -2,040,000 -1,273,000 -1,185,000 -2,167,000 -2,074,000 -2,275,000 -2,331,000 -1,799,000  -3,495,000 -3,094,000 -2,029,000    -2,552,000   -3,641,000        
      proceeds from term loan
    		                    0           0 0                                 
      net repayments of revolving credit facility
    		                                                                 
      payment of debt issuance costs
    		                                                                 
      payment of debt extinguishment costs
    		                                                                 
      repurchases of common stock
    		                    0 0 -10,004,000 0 0 0 -20,682,000                                       
      repurchases of preferred stock
    		                                                            0     
      payment of dividends to holders of common stock
    		                    -60,945,000 -60,942,000 -61,116,000    -67,405,000 -58,567,000 -59,649,000 -59,636,000 -59,652,000 -56,390,000 -56,326,000 -56,333,000 -56,328,000 -51,618,000 -51,611,000 -51,527,000 -51,523,000 -46,814,000 -46,795,000 -46,715,000 -43,758,000 -38,014,000 -37,984,000 -38,034,000 -37,970,000 -35,019,000 -35,019,000 -35,018,000 -34,996,000 -29,124,000 -29,109,000 -23,967,000 -21,806,000           
      payment of dividends to holders of preferred stock
    		                          -2,148,000 -2,149,000 -2,148,000 -2,149,000 -2,148,000 -2,149,000 -2,148,000 -2,149,000 -2,148,000 -2,148,000 -2,351,000 -2,758,000 -2,757,000 -2,757,000 -2,757,000 -2,758,000 -2,827,000 -3,592,000 -2,126,000 -659,000 -696,000 -700,000 -702,000 -700,000 -702,000 -872,000 -7,148,000 -16,560,000 -12,439,000 -12,513,000 -12,421,000 -12,456,000        
      payment of distributions to noncontrolling interests
    		                    -5,224,000 -5,197,000 -5,442,000 -5,300,000 -5,383,000 -5,236,000 -5,701,000 -6,647,000 -5,551,000 -5,096,000 -11,902,000 -10,970,000 -4,653,000 -5,386,000 -5,790,000 -6,680,000 -17,128,000 -5,475,000 -6,423,000 -11,375,000 -6,740,000 -33,083,000 -6,203,000 -7,003,000 -10,862,000 -7,471,000 -24,636,000 -29,931,000 -11,322,000 -6,811,000 -15,702,000 -19,964,000 -10,927,000 -11,233,000 -15,725,000 -19,036,000 -10,431,000 -11,542,000 -12,038,000 -23,810,000 -15,925,000 -22,475,000 -58,151,000   
      redemptions of noncontrolling interests in the aimco operating partnership
    		                    -17,485,000 -286,000 -1,584,000    -2,653,000                                       
      purchases of noncontrolling interests in consolidated real estate partnerships
    		                       0 -2,863,000                       -6,026,000 -8,221,000 -1,939,000 -589,000 -3,071,000 -19,794,000 -20,642,000 -27,638,000           
      net (repayments of) borrowings on revolving credit facility
    		                          -90,360,000                                       
      net borrowings on (repayments of) revolving credit facility
    		                      318,845,000                                           
      cash, cash equivalents and restricted cash at beginning of period
    		                      177,702,000 0 0 0 72,595,000 0 0                                     
      benefit from real estate impairment loss
    		                                                                 
      gain on dispositions of real estate and the asset management business
    		                       -146,239,000                                          
      other
    		                                                                 
      accounts receivable and other assets
    		                                                                 
      proceeds from dispositions of real estate and the asset management business
    		                                                                 
      proceeds from repayments on notes receivable
    		                       36,000                                          
      (repayment of) proceeds from term loan
    		                           0                                      
      net borrowings on revolving credit facility
    		                             141,535,000 11,475,000  110,500,000 176,020,000 51,770,000           -56,660,000 59,660,000 -248,150,000 111,500,000 137,850,000 49,200,000    67,400,000 4,700,000   14,800,000    15,000,000   
      proceeds from issuance of non-recourse property debt
    		                                                                 
      principal repayments of non-recourse property debt
    		                        -182,556,000 -188,210,000 -19,580,000                                       
      repayment of term loan
    		                                                                 
      net repayments on revolving credit facility
    		                                                                 
      redemption of preferred stock
    		                        0                                         
      payment of dividends to common stockholders
    		                        -57,969,000                                         
      payment of dividends to preferred stockholders
    		                        0                                         
      redemption of noncontrolling interests in the aimco operating partnership
    		                        -827,000                                         
      net decrease in cash, cash equivalents and restricted cash
    		                                                                 
      purchases and redemptions of noncontrolling interests
    		                            -861,000 -3,054,000 -8,341,000 -3,550,000 -1,100,000 -318,537,000 -4,628,000 -3,434,000                              
      amortization of debt issue costs and other
    		                                                                 
      payment of debt issue costs
    		                                                                 
      redemptions of preferred stock
    		                                                                 
      gain on dispositions of real estate and the asset management business, inclusive of related income tax
    		                                                                 
      gain on dispositions of real estate, inclusive of related income tax
    		                                                                 
      (gain) loss on dispositions of real estate, inclusive of related income tax
    		                              -50,324,000                                   
      gain on dispositions of real estate, net of tax
    		                               -298,678,000 233,000   -156,564,000 -14,498,000 -216,541,000 -6,187,000 -50,119,000 0 -44,781,000 -85,693,000 -26,153,000 -126,329,000 -66,662,000 -69,492,000                   
      changes in restricted cash
    		                                                                 
      net borrowings (repayments) on revolving credit facility
    		                                     54,460,000 79,080,000                         218,800,000  
      proceeds from issuance of common stock
    		                                       0 0 -5,000 366,585,000         -58,000 35,837,000   11,039,000 33,799,000 27,174,000        
      net increase in cash and cash equivalents
    		                                 -1,312,000 3,830,000 13,336,000 -7,317,000 -9,229,000 13,665,000 5,548,000 -1,594,000 -117,655,000 135,519,000      20,699,000   -18,102,000 -210,449,000       -25,774,000    -47,378,000 -127,033,000 
      cash and cash equivalents at beginning of period
    		                               0 0 0 61,244,000 0 0 0 50,789,000 0 0 0 28,971,000 0 0 0 55,751,000 0 0 0 84,413,000 0 0 0 91,066,000 0 0 111,325,000 81,260,000  0 0 299,676,000 210,461,000  
      cash and cash equivalents at end of period
    		                               21,105,000 -8,081,000 -1,312,000 65,074,000 13,336,000 -7,317,000 -9,229,000 64,454,000 5,548,000 -1,594,000 -117,655,000 164,490,000 -215,000 -4,640,000 -4,576,000 38,402,000 -11,871,000 20,699,000 -2,635,000 49,558,000 -18,102,000 -210,449,000 229,730,000 83,234,000 -9,493,000 3,964,000 81,360,000 77,875,000  -5,080,000 18,881,000 93,233,000 163,083,000  
      cash flows from operating activities
    		                                                                 
      cash flows from investing activities
    		                                                                 
      change in restricted cash
    		                                -173,000 335,000 1,445,000  270,849,000 -290,075,000 3,234,000  208,000 146,000 2,546,000  62,402,000 -67,675,000 -28,511,000  -2,130,000                 
      cash flows from financing activities
    		                                                                 
      net decrease in cash and cash equivalents
    		                                           -215,000 -4,640,000 -4,576,000 -17,349,000    -34,855,000    -7,832,000  3,964,000 -29,965,000 -3,385,000    -206,443,000   
      gain on dispositions of real estate, inclusive of tax
    		                                  394,000                               
      net (repayments) borrowings on revolving credit facility
    		                                         47,520,000 -112,330,000                       
      proceeds from issuance of preferred stock
    		                                           -69,000 -38,000       0 0 -18,000 9,836,000           
      redemptions and repurchases of preferred stock
    		                                                   18,000 -300,018,000             
      deposits for purchases of real estate
    		                                                                 
      benefit from real estate impairment losses
    		                                           407,000        -2,452,000 -2,270,000 6,707,000 6,364,000           
      amortization of deferred loan costs and other
    		                                                                 
      adjustments to net income from discontinued operations
    		                                                                 
      purchase of property loans
    		                                                0                 
      proceeds from repayment of property loans and option value
    		                                                                 
      proceeds from common stock option exercises
    		                                           181,000 459,000 107,000 21,000 0 10,000 0 983,000 1,000 0 47,052,000 1,854,000           
      redemption and repurchase of preferred stock
    		                                        0 0 -27,000,000                       
      purchases of real estate and investments in unconsolidated real estate partnerships
    		                                                   11,000 -9,984,000 -39,738,000 -40,005,000           
      purchase of west harlem first mortgage property loans
    		                                                                 
      proceeds from repayment of west harlem property loans and option value
    		                                                                 
      proceeds from sales of and distributions from unconsolidated real estate partnerships
    		                                                                 
      discontinued operations
    		                                                -65,589,000 -2,669,000 -1,951,000  -35,726,000 -38,072,000 -34,230,000 -28,647,000 -13,507,000 -3,134,000 -19,384,000  -56,979,000 -33,805,000 -8,153,000 1,158,000  
      repurchase of preferred stock
    		                                            -16,000 0 -9,500,000                   
      equity in (income) losses of unconsolidated real estate partnerships
    		                                               -21,000 -277,000 -104,000 -524,000               
      gain on dispositions of unconsolidated real estate and other
    		                                                       -3,094,000 -809,000 -1,212,000 -2,642,000 -3,914,000 -3,969,000     
      purchases of interests in unconsolidated real estate and corporate assets
    		                                                                 
      purchase of investment in debt securities
    		                                                                 
      gain on dispositions of interests in unconsolidated real estate and other
    		                                                   -1,251,000 -16,033,000 -2,422,000 -2,180,000           
      proceeds from sale of interests in and distributions from unconsolidated real estate partnerships
    		                                                -2,000                 
      equity in losses of unconsolidated real estate partnerships
    		                                                   1,608,000 -205,000 2,242,000 763,000           
      stock-based compensation expense
    		                                                                 
      accounts receivable
    		                                                                 
      net increase in cash from consolidation and deconsolidation of entities
    		                                                          13,118,000       
      payments on term loans
    		                                                          -45,000,000  -90,000,000 0 -50,000,000   
      proceeds from sale of interests in and distributions from real estate partnerships
    		                                                     6,194,000 8,504,000 8,039,000 1,974,000 1,329,000        
      purchase of investments in debt securities
    		                                                                 
      originations of notes receivable from unconsolidated real estate partnerships
    		                                                       -230,000 -50,000 -361,000 -220,000  -1,275,000 -965,000 -3,146,000 -3,497,000  
      proceeds from collection of notes receivable
    		                                                                 
      proceeds from class a common stock option exercises
    		                                                       0 0 1,806,000      316,000 2,000 
      payment of dividends to holders of class a common stock
    		                                                       -14,498,000 -14,338,000 -14,239,000        
      equity in losses (earnings) of unconsolidated real estate partnerships
    		                                                                 
      proceeds from repayment of notes receivable
    		                                                        5,823,000 441,000 117,000 561,000 327,000 2,908,000 1,468,000 4,880,000  
      proceeds from property loans
    		                                                        341,417,000 321,184,000 49,854,000 156,150,000 5,490,000 437,654,000 173,149,000 213,321,000 236,937,000 
      principal repayments on property loans
    		                                                        -376,224,000 -271,495,000 -35,369,000 -231,622,000 -162,015,000 -494,755,000 -187,926,000 -136,197,000 -26,845,000 
      principal repayments on tax-exempt bond financing
    		                                                        -981,000 -97,466,000 -886,000 -35,734,000 -51,354,000 -66,455,000 -4,319,000 -1,228,000 -1,586,000 
      equity in losses (income) of unconsolidated real estate partnerships
    		                                                         1,648,000        
      benefit from impairment losses on real estate development assets
    		                                                                 
      benefit from operating real estate impairment losses
    		                                                                 
      distributions of earnings from unconsolidated entities
    		                                                                 
      proceeds from sale of interests and distributions from real estate partnerships
    		                                                                 
      purchases of partnership interests and other assets
    		                                                          -1,148,000 -2,888,000 -1,387,000 -1,217,000 -1,350,000 -8,413,000  
      originations of notes receivable
    		                                                                 
      proceeds from tax-exempt bond financing
    		                                                                 
      (payments on) proceeds from other borrowings
    		                                                                 
      repurchases and redemptions of preferred stock
    		                                                                 
      repurchases of class a common stock
    		                                                               -199,370,000  
      payment of class a common stock dividends
    		                                                          -11,649,000 -11,543,000 -11,628,000 -11,781,000 -60,383,000 -54,655,000 -57,203,000 
      payment of preferred stock dividends
    		                                                          -12,922,000 -12,935,000 -12,987,000 -13,127,000 -13,166,000 -14,208,000 -17,991,000 
      cash and cash equivalents at beginning of year
    		                                                                 
      cash and cash equivalents at end of year
    		                                                                 
      proceeds from sales of interests in and distributions from unconsolidated real estate partnerships
    		                                                                 
      proceeds from sales of interests in unconsolidated real estate partnerships
    		                                                          2,065,000       
      change in funds held in escrow from tax-free exchanges
    		                                                               345,000 -94,000 
      (payments on) borrowings under term loans
    		                                                                 
      proceeds from (payments on) other borrowings
    		                                                                 
      net (decrease)/increase in cash and cash equivalents
    		                                                                 
      (gain) loss on dispositions of unconsolidated real estate
    		                                                              -10,862,000   
      deficit distributions to minority partners
    		                                                                 
      real estate impairment losses (recoveries)
    		                                                                 
      deferred income tax benefit
    		                                                                 
      minority interest in consolidated real estate partnerships
    		                                                                 
      minority interest in aimco operating partnership
    		                                                                 
      distributions of earnings to minority interest in consolidated real estate partnerships
    		                                                                 
      gain on disposition of real estate, net of minority partners’ interest
    		                                                                 
      cash from newly consolidated properties
    		                                                                 
      repurchase of class a common stock
    		                                                                -121,674,000 
      principal repayments received on notes due on class a common stock purchases
    		                                                                 
      payment of distributions to minority interest
    		                                                               -42,318,000  
      gain on dispositions of unconsolidated real estate
    		                                                                 
      distributions from investments in unconsolidated real estate partnerships
    		                                                                 
      proceeds from tax exempt bond financing
    		                                                               21,200,000  
      deferred income tax provision
    		                                                                 
      gain on dispositions of real estate, net of minority partners’ interest
    		                                                                 
      proceeds from sale of interests in real estate partnerships
    		                                                                 
      borrowings under term loans
    		                                                                0 
      payments on other borrowings
    		                                                                 
      redemption of mandatorily redeemable preferred securities
    		                                                                 
      contributions from minority interest
    		                                                                 
      other adjustments to reconcile net income
    		                                                                 
      net changes in operating assets and operating liabilities, net of effects from acquisitions
    		                                                                 
      adjustments to income from discontinued operations
    		                                                                 
      cash recognized upon initial consolidations of properties
    		                                                                 
      purchases of general and limited partnership interests and other assets; net of cash acquired
    		                                                                 
      loans advanced to unconsolidated real estate partnerships
    		                                                                 
      proceeds from repayment of loans advanced to unconsolidated real esate partnerships
    		                                                                 
      proceeds from tax-exempt bonds
    		                                                                 
      repayments on revolving loan commitments
    		                                                                 
      proceeds from issuance of preferred stock; net of issuance costs
    		                                                                 
      principal payments received on notes due on class a stock purchases
    		                                                                 
      distributions of minority interests
    		                                                                 
      purchases of general and limited partnership interests and other assets
    		                                                                 
      distributions received from investments in unconsolidated real estate partnerships
    		                                                                 
      proceeds from tax exempt bonds
    		                                                                 
      net borrowings (repayments) on term loans and revolving credit facility
    		                                                                 
      cumulative effect of change in accounting principle
    		                                                                 
      distributions and sales proceeds from investments in real estate partnerships
    		                                                                 
      net borrowings (paydowns) on term loans and revolving credit facility
    		                                                                 
      proceeds (paydowns) on other borrowings
    		                                                                 
      purchases of non-real estate related corporate assets
    		                                                                 
      proceeds from sale of investments and other assets
    		                                                                 
      cash paid in connection with merger/acquisition related costs
    		                                                                 
      proceeds from secured notes payable borrowings
    		                                                                 
      principal repayments on secured notes payable
    		                                                                 
      proceeds from other borrowings
    		                                                                 
      payment of loan costs
    		                                                                 
      proceeds from issuance (redemption) of mandatorily redeemable preferred securities
    		                                                                 
      proceeds from issuance of class a common stock, high performance units and exercise of options/warrants and other
    		                                                                 
      repurchase of class a common stock, redemption of op units and warrant purchase
    		                                                                 
      net borrowings on term loans and revolving credit facility
    		                                                                 
      supplemental cash flow information:
    		                                                                 
      secured debt assumed in connection with purchase of real estate
    		                                                                 
      funds held in escrow from tax-free exchanges
    		                                                                 
      proceeds from issuance of class a common stock, high performance units and exercise of options/warrants
    		                                                                 
      repurchase of class a common stock and redemption of op units
    		                                                                 
      gain on dispositions of real estate related to unconsolidated entities and other
    		                                                                 
      impairment loss on investment in unconsolidated real estate partnerships
    		                                                                 
      recovery of deficit distributions to minority partners
    		                                                                 
      impairment loss on real estate assets sold or held for sale
    		                                                                 
      deferred income taxes
    		                                                                 
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.