Aimco Equity (Tables)

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Classes of perpetual preferred stock

At December 31, 2013 and 2012, Aimco had the following classes of perpetual preferred stock outstanding (dollars in thousands):

	Redemption	Annual Dividend Rate Per Share (paid quarterly)	Balance December 31,
	Date (1)		2013		2012
Class Z Cumulative Preferred Stock, 4,800,000 shares authorized and 1,274,243 shares issued/outstanding	7/29/2016	7.00%	$	31,114	$	31,114
Series A Community Reinvestment Act Preferred Stock, 240 shares authorized and 74 shares issued/outstanding	6/30/2011	(2)	37,000		37,000
Preferred stock per consolidated balance sheets			$	68,114	$	68,114

(1) All classes of preferred stock were or are redeemable at our option on and after the dates specified.

(2) For the period from the date of original issuance through March 31, 2015, the dividend rate is a variable rate per annum equal to the Three-Month LIBOR Rate (as defined in the articles supplementary designating the Series A Community Reinvestment Act Perpetual Preferred Stock, or CRA Preferred Stock) plus 1.25%, calculated as of the beginning of each quarterly dividend period. The rate at December 31, 2013 and 2012 was 1.50% and 1.61%, respectively.

Issuance of preferred stock

The following table summarizes our issuances of Class Z Preferred Stock during the years ended December 31, 2012 and 2011 (dollars in thousands, except per share amounts):

	Years Ended December 31,
	2012		2011
Number of shares of preferred stock issued	405,090		869,153
Price to public per share	$	24.78	$	24.25
Underwriting discounts, commissions and transaction costs per share	$	0.54	$	1.25
Net proceeds per share	$	24.24	$	23.00
Net proceeds to Aimco	$	9,818	$	19,990
Issuance costs (primarily underwriting commissions) recognized as an adjustment of additional paid-in capital	$	221	$	1,085