8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
- --------------------------------------------------------------------------------

                                    FORM 8-K
                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)                 August 29, 2002

                   APARTMENT INVESTMENT AND MANAGEMENT COMPANY
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


       MARYLAND                       1-13232                    84-1259577
- -----------------------------       -----------              ------------------
(State or other jurisdiction        (Commission               (I.R.S. Employer
   of incorporation or              File Number)             Identification No.)
      organization)


                    2000 SOUTH COLORADO BOULEVARD, TOWER TWO
                       SUITE 2-1000, DENVER, CO 80222-7900
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               (Address of principal executive offices) (Zip Code)


Registrant's telephone number, including area code                (303) 757-8101


                                 NOT APPLICABLE
- --------------------------------------------------------------------------------
          (Former name or Former Address, if Changed Since Last Report)





ITEM 5. OTHER EVENTS.

         On August 29, 2002, Apartment Investment and Management Company
("Aimco") announced that it acquired from Thomas J. Flatley 100% ownership of
eleven conventional garden and mid-rise apartment properties located primarily
in the greater Boston area. The eleven properties include 4,323 apartment units
on 553 acres. The total cost of the acquisition includes $500 million for the
properties and $2.5 million in transaction costs. In addition, Aimco expects to
spend $6.2 million for initial capital expenditures to address identified
property needs. Aimco may also spend as much as an additional $28 million in
initial capital expenditures to complete a kitchen and bath program that was
initiated by the prior owner. Aimco funded the all cash purchase price using
$309 million of 20-year, fully amortizing mortgage debt at interest rates
averaging 5.69% plus borrowing under Aimco's credit facility. The press release
of Aimco, attached hereto as Exhibit 99.1, relating to the consummation of the
acquisition, is incorporated herein by reference.

ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

(c)      Exhibits

         The following exhibits are filed with this report:

         99.1     Press Release of Apartment Investment and Management Company,
                  dated August 29, 2002





                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.

         Dated: September 4, 2002

                                              APARTMENT INVESTMENT
                                              AND MANAGEMENT COMPANY

                                              By: /s/ Paul J. McAuliffe
                                                 -------------------------------
                                              Paul J. McAuliffe
                                              Executive Vice President and Chief
                                              Financial Officer





                                  EXHIBIT INDEX



EXHIBIT NO.       DESCRIPTION
- -----------       -----------
               
99.1              Press Release of Apartment Investment and Management Company,
                  dated August 29, 2002

EX-99.1

                                                                    EXHIBIT 99.1
[AIMCO LOGO]


                   APARTMENT INVESTMENT AND MANAGEMENT COMPANY
           ANNOUNCES COMPLETION OF THE FLATLEY PROPERTIES ACQUISITION

DENVER, COLORADO - August 29, 2002

Apartment Investment and Management Company (NYSE:AIV) ("Aimco") is pleased to
announce completion of the purchase by Aimco of 100% ownership of eleven
conventional garden and mid-rise apartment properties located in the greater
Boston area from Thomas J. Flatley. The eleven properties include 4,323
apartment units on 553 acres. The all cash transaction closed earlier today. The
total cost of the acquisition includes $500 million for the properties and $2.5
million in transaction costs. In addition Aimco expects to spend $6.2 million
for initial capital expenditures.

As announced previously, funding for this acquisition includes $309 million of
20-year, fully amortizing mortgage debt at interest rates averaging 5.69% plus
borrowing under Aimco's credit facility. Pro forma for calendar year 2003, Aimco
projects the acquisition will add $2.7 million, or $0.02 per share, to Adjusted
Funds From Operations and $4.9 million, or $0.04 per share, to Funds From
Operations.

For further details on this transaction, please see the press release dated
August 12, 2002.

This press release contains forward-looking statements including statements
regarding 2003 results that are subject to certain risks and uncertainties
including, but not limited to, the Company's ability to maintain current
occupancy and rent levels. Actual results may differ materially from those
described and pro forma results could be affected by a variety of factors
including: economic conditions; changes in interest rates; competition; the
failure of this acquisition to perform in accordance with expectations; the
Company's ability to integrate operations; possible environmental liabilities;
and, other risks described in our filings with the Securities and Exchange
Commission. These forward-looking statements reflect management's judgment as of
this date, and we assume no obligation to revise or update them to reflect
future events or circumstances.

Aimco is a real estate investment trust with headquarters in Denver, Colorado
and 19 regional operating centers that holds a geographically diversified
portfolio of apartment communities. Aimco, through its subsidiaries, operates
approximately 1,800 properties, including approximately 326,000 apartment units,
and serves approximately one million residents each year. Aimco's properties are
located in 47 states, the District of Columbia and Puerto Rico.

Contact: Jennifer Martin, Vice President - Investor Relations (303) 691-4440
         Paul J. McAuliffe, Executive Vice President and Chief Financial Officer
         (303) 691-4339
         E-Mail: investor@aimco.com