APARTMENT INVESTMENT & MANAGEMENT CO | 2013 | FY | 3

The redeemable Partnership Preferred Units presented in this reconciliation include the redeemable Preferred OP Units as well as the CRA Preferred Units held by Aimco, which were redeemed by Aimco during 2011.
 
2013
 
2012
 
2011
Balance at January 1
$
80,046

 
$
83,384

 
$
103,428

Preferred distributions
(6,423
)
 
(6,496
)
 
(6,683
)
Redemption of preferred units
(93
)
 
(3,338
)
 
(20,044
)
Net income
6,423

 
6,496

 
6,683

Balance at December 31
$
79,953

 
$
80,046

 
$
83,384

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