CPN 2008 GreenBook

Giants AIG SunAmerica Affordable Housing Partners Inc. A IG SunAmerica Affordable Housing Partners Inc. has been an active investor in tax-credit transactions since 1988, pursuing all types of low-incomehousing tax-credit transactions. The company is headquartered in Los Angeles and has regional offices in Dallas; Indianapolis; Minneapolis; Tampa; Reno; Walnut Creek, Calif.; Charlotte, N.C.; Richmond, Va.; Bethesda, Md.; St. Charles, Mo.; Kennesaw, Ga.; and Alpharetta, Ga. In 2007, it was involved in 74 deals with more than $720 million worth of credits. The compaMIKE FOWLER ny anticipates a similar volume in President 2008 and plans to provide the con- AIG SunAmerica Affordable Housing Partners Inc. struction and permanent debt on most of its transactions. In addition to new equity investments, SunAmerica expects to sell about 35 properties that have reached or are approaching the end of their compliance periods. The firm’s portfolio features more than 1,300 properties encompassing over 145,000 affordable housing units across 49 states, the Virgin Islands and Puerto Rico, representing total development costs of more than $12.5 billion and tax-credit equity of almost $7 billion. In March 2008, president Mike Fowler celebrated 20 years, during which SunAmerica created affordable housing for over 400,000 residents. Communities that the firm is building, including transit-oriented developments, incorporate such sustainable components as recycled construction materials, chemicalfree products, high- efficiency appliances and mechanical systems, HOWARD HEITNER water-saving fixtures and devices COO and drought-resistant landscaping. AIG SunAmerica Affordable Housing Partners Inc. Select projects also employ renewable energy sources like solar and geothermal systems, and the company has invested in the conversions of toxic sites into safe, clean environments. Apartment Investment and Management Co. A partment Investment and Management Co., or AIMCO, ranks among the nation’s largest affordable housing owners and operators. It owns and operates 1,163 apartment communities totaling more than 202,000 units in 46 states, Puerto Rico and Washington, D.C. The company is headquartered in Denver and operates through nine additional offices that serve 750,000 residents each year. AIMCO’s ownership portfolio is geographically balanced between conventional and affordable communities and encompasses 127,116 units across 436 conventional properties and 37,061 units within 310 affordable properties. The company often utilizes joint ventures to rebalance its geographic allocation of capital while maintaining operational scale in its target markets. In December 2007, for instance, it entered into a joint-venture agreement with a fund managed by JPMorgan Asset Management Inc. to coown three West Los Angeles multi-family properties totaling almost 1,400 units. In March 2008, the National Affordable Housing Management Association awarded the firm with its Communities of Quality certification for excellence in such areas as affordable housing management, customer service and personnel performance. AIMCO has committed to maintaining environmentally friendly and sustainable communities, investing in energy-and water-conservation projects. For example, it uses satellite technology to manage irrigation at communities in the West and Southwest, where the need for water conservation is extremely important. The firm also is installing more-efficient boilers and chillers at its communities, replacing lighting in common areas and individual apartments and installing newer appliances, all of which yield environmental and economic benefits. In 2007, the company’s efforts reduced greenhouse-gas emissions by the equivalent of 13,454 metric tons of carbon dioxide. According to the Environmental Protection Agency’s clean-energy calculations, this compares to the removal of 2,464 cars from the road. 8 Commercial Property News The 2008 Multi-Family Greenbook

Table of Contents Feed for the Digital Edition of CPN 2008 GreenBook

CPN 2008 Greenbook Table of Contents Industry Update Green Update Giants Owners, Managers & Developers REITs Finance Firms Seniors Housing Providers Service Firms Software Providers Activity Index Alphabetical Master Listings

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