ITEM 8.01. Other Events.

Aimco OP L.P., a Delaware limited partnership ("New OP"), has filed a
Registration Statement on Form 10 (as amended, the "Registration Statement")
with the U.S. Securities and Exchange Commission (the "SEC") in connection with
AIMCO Properties, L.P.'s ("AIR OP") previously announced separation (the
"Separation") of New OP, which is more fully described in New OP's information
statement, dated November 30, 2020 (the "Information Statement"), which is filed
with this Current Report on Form
8-K
as Exhibit 99.1. The Registration Statement was declared effective by the SEC on
November 30, 2020. AIR OP will mail the notice of availability of the
Information Statement to all the holders of AIR OP common limited partnership
units and AIR OP Class I High Performance partnership units as of the close of
business on December 5, 2020, the record date for the distribution.
The Separation will be effected through (i) the pro rata distribution by AIR OP,
the operating partnership of Apartment Investment and Management Company
("Aimco"), to the holders of AIR OP common limited partnership units and the
holders of AIR OP Class I High Performance partnership units of all of the
common limited partnership units of New OP and (ii) the pro rata distribution by
Aimco to its stockholders of all of the outstanding shares of common stock of
Apartment Income REIT Corp. After the Separation, Aimco and New OP will own the
redevelopment and development business and a portfolio of 11 stabilized
multifamily properties, primarily located in the Boston and San Diego areas, as
well as certain other investments. Aimco will be well-capitalized with an
estimated gross asset value of $1.3 billion, and an estimated Net Asset Value,
or NAV (as defined in the Information Statement), of $1.2 billion, each as of
March 31, 2020 (in each case, without giving effect to the value of the Initial
Leased Properties or the Separate Portfolio Assets (each as defined in the
Information Statement)).
Cautionary Statement Regarding Forward Looking Statements
This document contains forward-looking statements within the meaning of the
federal securities laws. Forward-looking statements include all statements that
are not historical statements of fact and those regarding our intent, belief, or
expectations, including, but not limited to: the anticipated timing, structure
and benefits of the Separation; and tax treatment and tax consequences of the
Separation. In addition, we may not complete the Separation at all. We caution
investors not to place undue reliance on any such forward-looking statements.
Words such as "anticipate(s)," "expect(s)," "intend(s)," "plan(s),"
"believe(s)," "may," "will," "would," "could," "should," "seek(s)" and similar
expressions, or the negative of these terms, are intended to identify such
forward-looking statements. These statements are based on management's current
expectations and beliefs and are subject to a number of risks and uncertainties
that could lead to actual results differing materially from those projected,
forecasted or expected. Although we believe that the assumptions underlying the
forward-looking statements are reasonable, we can give no assurance that our
expectations will be attained.
Risks and uncertainties that could cause actual results to differ materially
from our expectations include, but are not limited to: whether or not we
complete the Separation on the anticipated terms or at all; the effects of the
coronavirus pandemic on Aimco's and Apartment Income REIT Corp.'s ("AIR")
respective businesses and on the global and U.S. economies generally; real
estate and operating risks, including fluctuations in real estate values and the
general economic climate in the markets in which Aimco and AIR will operate and
competition for residents in such markets; national and local economic
conditions, including the pace of job growth and the level of unemployment; the
amount, location and quality of competitive new housing supply; the timing and
effects of acquisitions, dispositions, redevelopments and developments; changes
in operating costs, including energy costs; negative economic conditions in our
geographies of operation; loss of key personnel; Aimco's or AIR's ability to
maintain current or meet projected occupancy, rental rates and property
operating results; Aimco's or AIR's ability to meet budgeted costs and
timelines, and, if applicable, achieve budgeted rental rates related to
redevelopment and development investments; expectations regarding sales of
apartment communities and the use of the proceeds thereof; the ability to
successfully operate as two separate companies each with more narrowed focus;
insurance risks, including the cost of insurance, and natural disasters and
severe weather such as hurricanes; financing risks, including the availability
and cost of financing; the risk that cash flows from operations may be
insufficient to meet required payments of principal and interest; the risk that
earnings may not be sufficient to maintain compliance with debt covenants,
including financial coverage ratios; legal and regulatory risks, including costs
associated with prosecuting or defending claims and any adverse outcomes; the
terms of laws and governmental regulations that affect us and interpretations of
those laws and regulations; possible environmental liabilities, including costs,
fines or penalties that may be incurred due to necessary remediation of
contamination of apartment communities presently or previously owned by Aimco;
activities by stockholder activists, including a proxy contest; Aimco's and
AIR's relationship with each other after the consummation of the Separation; the
ability and willingness of Aimco and AIR
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and their subsidiaries to meet and/or perform their obligations under any
contractual arrangements that are entered into among the parties in connection
with the Separation and any of their obligations to indemnify, defend and hold
the other party harmless from and against various claims, litigation and
liabilities; the ability to achieve some or all the benefits that we expect to
achieve from the Separation; and such other risks and uncertainties described
from time to time in filings by Aimco and AIR with the SEC.
In addition, Aimco's current and continuing qualification and, if the REIT
Distribution is completed, AIR's qualification and continuing qualification as a
real estate investment trust involves the application of highly technical and
complex provisions of the Internal Revenue Code of 1986, as amended (the
"Code"), and depends on Aimco's and, if applicable, AIR's ability to meet the
various requirements imposed by the Code, through actual operating results,
distribution levels and diversity of stock ownership.
Readers should carefully review Aimco's financial statements and the notes
thereto, as well as the section entitled "Risk Factors" in Item 1A of Aimco's
Annual Report on Form
10-K
for the year ended December 31, 2019 and in Item 1A of Aimco's Quarterly Reports
on Form
10-Q
for the quarterly periods ended March 31, 2020, June 30, 2020 and September 30,
2020, and the other documents Aimco files from time to time with the SEC.
Readers should also carefully review the "Risk Factors" section of each of New
OP's and AIR's respective registration statements relating to the Separation,
and other documents New OP files from time to time with the SEC. These filings
identify and address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained in the
forward-looking statements.
These forward-looking statements reflect management's judgment as of this date,
and Aimco and New OP assume no (and disclaim any) obligation to revise or update
them to reflect future events or circumstances.

ITEM 9.01. Financial Statements and Exhibits.

(d) The following exhibit is being filed with this report:



Exhibit
Number       Description

99.1           Information Statement of Aimco OP L.P. dated November 30, 2020

104          Cover Page Interactive Data File (embedded within the Inline XBRL
             document).

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