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Aimco
Apartment Investment and Management Company Announces Non-Cash Charges to Be Taken in the Fourth Quarter 2008
February 13th, 2009
Apartment Investment and Management Company ("Aimco") (NYSE:AIV) announced that it will incur non-cash charges during the fourth quarter 2008 associated with the impairment of three real estate development assets: two California properties and an investment in Casden Properties, LLC, which holds land and other development assets in Southern California. In connection with the preparation of its annual financial statements, Aimco assessed the recoverability of its investment in its Lincoln Place property, located in Venice, California. Based upon the decline in land values in Southern California and the expected timing of the company's redevelopment efforts, Aimco...
Source: Health Business Week (2009-02-13)
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