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Investor Presentaiton

• • • REDEVELOPMENT: 2019 STARTS 707 Leahy, Redwood City, CA In the second quarter, Aimco began a $24M major redevelopment of this 110-apartment home community and its amenities. 707 Leahy is located in one of the world's most dynamic job markets and benefits from higher density than permitted under the current zoning code. Aimco expects to generate a FCF IRR of ~9% on this investment. 707 leahy 707 LEAHY LEASING CENTER BEFORE: Aged improvements mask the quality of the location and the opportunity for higher rents. 707lechy AFTER: Completely rebuilt top-down and inside-out, commanding rents that provide an accretive return on the incremental investment. 7

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