<PAGE>
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON DECEMBER 8, 1997
REGISTRATION NO. 333-
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
---------------------
APARTMENT INVESTMENT AND MANAGEMENT COMPANY
(Exact name of registrant as specified in its charter)
<TABLE>
<S> <C>
MARYLAND 84-1259577
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification Number)
</TABLE>
1990 STOCK OPTION PLAN OF NHP INCORPORATED
1995 INCENTIVE STOCK OPTION PLAN OF NHP INCORPORATED
STOCK OPTION AGREEMENT, DATED AS OF AUGUST 18, 1995, BETWEEN NHP
INCORPORATED AND J. RODERICK HELLER, III
(Full title of the plan)
1873 SOUTH BELLAIRE STREET, 17TH FLOOR
DENVER, COLORADO 80222
(Address of principal executive offices)(Zip code)
TERRY CONSIDINE
CHAIRMAN OF THE BOARD OF DIRECTORS
1873 SOUTH BELLAIRE STREET, 17TH FLOOR
DENVER, COLORADO 80222
(303)757-8101
(Name and address of agent for service)
(303)757-8101
(Telephone number, including area code, of agent for service)
------------------------------
CALCULATION OF REGISTRATION FEE
<TABLE>
<CAPTION>
PROPOSED MAXIMUM PROPOSED MAXIMUM
TITLE OF SECURITIES AMOUNT TO BE OFFERING PRICE PER AGGREGATE OFFERING
TO BE REGISTERED REGISTERED SHARE (1) PRICE (1)
<S> <C> <C> <C>
Class A Common Stock, par value $.01 per share.......... 595,324 $34 3/4 $20,687,509
<CAPTION>
TITLE OF SECURITIES AMOUNT OF
TO BE REGISTERED REGISTRATION FEE
<S> <C>
Class A Common Stock, par value $.01 per share.......... $6,103
</TABLE>
(1) Calculated pursuant to Rule 457(c) of the rules and regulations under the
Securities Act of 1933, as amended (the "Securities Act"), based on the
average of the high and low prices on December 4, 1997.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
<PAGE>
PART I
INFORMATION REQUIRED IN THE SECTION 10(A) PROSPECTUS
The document(s) containing the information specified in Part I of Form S-8
have been or will be sent or given to employees as specified by Rule 428(b)(1)
under the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
ITEM 3. INCORPORATION OF DOCUMENTS BY REFERENCE.
The following documents, previously filed by Apartment Investment and
Management Company ("AIMCO") with the Securities and Exchange Commission
pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange
Act") (File No. 1-13232), are incorporated herein by reference:
(i) Annual Report on Form 10-K for the year ended December 31, 1996;
(ii) Amendment No. 2 to Quarterly Report on Form 10-Q for the quarter
ended September 30, 1996, filed March 10, 1997;
(iii) Quarterly Reports on Form 10-Q for the quarters ended March 31,
1997, June 30, 1997 (and Amendments No. 1 and 2 thereto filed August 19,
1997 and October 6, 1997) and September 30, 1997;
(iv) Current Reports on Form 8-K dated December 19, 1996, February 19,
1997, April 16, 1997 (and Amendments No. 1, 2 and 3 thereto filed April
30, 1997, October 6, 1997 and October 22, 1997, respectively), May
5, 1997, June 3, 1997 (and Amendments No. 1, 2, 3, 4 and 5 thereto filed
June 27, 1997, August 14, 1997, September 5, 1997, October 6, 1997 and
October 22, 1997, respectively), August 26, 1997, September 19, 1997 and
October 15, 1997 (and Amendment No. 1 thereto filed October 22, 1997);
and
(v) the description of the Class A Common Stock which is contained in a
Registration Statement on Form 8-A (File No. 1-13232) filed July 19, 1994,
including any amendment or reports filed for the purpose of updating such
description.
All documents subsequently filed by AIMCO pursuant to Sections 13(a), 13(c),
14 and 15(d) of the Exchange Act, prior to the filing of a post-effective
amendment which indicates that all securities offered have been sold or which
deregisters all securities then remaining unsold, shall be deemed to be
incorporated by reference herein and to be a part hereof from the date of filing
of such documents.
Any statement contained herein or in a document incorporated or deemed to be
incorporated by reference herein shall be deemed to be modified or superseded
for purposes of this Registration Statement to the extent that a statement
contained herein or in any other subsequently filed document that is or is
deemed to be incorporated by reference herein modifies or supersedes such
previous statement. Any statement so modified or superseded shall not be deemed
to constitute a part of this Registration Statement, except as so modified or
superseded.
ITEM 4. DESCRIPTION OF SECURITIES.
Not applicable.
ITEM 5. INTERESTS OF NAMED EXPERTS AND COUNSEL.
Not applicable.
ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.
AIMCO's Charter limits the liability of AIMCO's directors and officers to
AIMCO and its stockholders to the fullest extent permitted from time to time by
Maryland law. Maryland law presently permits the
II-1
<PAGE>
liability of directors and officers to a corporation or its stockholders for
money damages to be limited, except (i) to the extent that it is proved that the
director or officer actually received an improper benefit or profit in money,
property or services for the amount of the benefit or profit in money, property
or services actually received, or (ii) if a judgment or other final adjudication
is entered in a proceeding based on a finding that the director's or officer's
action, or failure to act, was the result of active and deliberate dishonesty
and was material to the cause of action adjudicated in the proceeding. This
provision does not limit the ability of the Company or its stockholders to
obtain other relief, such as an injunction or rescission.
AIMCO's Charter and Bylaws require AIMCO to indemnify its directors,
officers and certain other parties to the fullest extent permitted from time to
time by Maryland law. The Maryland General Corporation Law permits a corporation
to indemnify its directors, officers and certain other parties against
judgments, penalties, fines, settlements and reasonable expenses actually
incurred by them in connection with any proceeding to which they may be made a
party by reason of their service to or at the request of the corporation, unless
it is established that (i) the act or omission of the indemnified party was
material to the matter giving rise to the proceeding and (x) was committed in
bad faith or (y) was the result of active and deliberate dishonesty, (ii) the
indemnified party actually received an improper personal benefit in money,
property or services or (iii) in the case of any criminal proceeding, the
indemnified party had reasonable cause to believe that the act or omission was
unlawful. Indemnification may be made against judgments, penalties, fines,
settlements and reasonable expenses actually incurred by the director or officer
in connection with the proceeding; PROVIDED, HOWEVER, that if the proceeding is
one by or in the right of the corporation, indemnification may not be made with
respect to any proceeding in which the director or officer has been adjudged to
be liable to the corporation. In addition, a director or officer may not be
indemnified with respect to any proceeding charging improper personal benefit to
the director or officer in which the director or officer was adjudged to be
liable on the basis that personal benefit was improperly received. The
termination of any proceeding by conviction, or upon a plea of nolo contendere
or its equivalent, or an entry of any order of probation prior to judgment,
creates a rebuttable presumption that the director or officer did not meet the
requisite standard of conduct required for indemnification to be permitted. It
is the position of the Securities and Exchange Commission that indemnification
of directors and officers for liabilities arising under the Securities Act is
against public policy and is unenforceable pursuant to Section 14 of the
Securities Act.
The Company has entered into agreements with certain of its officers,
pursuant to which the Company has agreed to indemnify such officers to the
fullest extent permitted by applicable law.
The Second Amended and Restated Agreement of Limited Partnership of AIMCO
Properties, L.P., a Delaware limited partnership (the "Operating
Partnership"), as amended through and in effect on the date hereof (the
"Operating Partnership Agreement"), also provides for indemnification of
AIMCO, or any director or officer of AIMCO, in its capacity as the previous
general partner of the Operating Partnership, from and against all losses,
claims, damages, liabilities, joint or several, expenses (including legal
fees), fines, settlements and other amounts incurred in connection with any
actions relating to the operations of the Operating Partnership, as set forth
in the Operating Partnership Agreement.
Section 11.6 of the Apartment Investment and Management Company 1997 Stock
Award and Incentive Plan (the "1997 Plan"), Section 2.8 of the Amended and
Restated Apartment Investment and Management Company Non-Qualified Employee
Stock Option Plan (the "Non-Qualified Plan"), Section 2.8 of the Apartment
Investment and Management Company 1996 Stock Award and Incentive Plan (the "1996
Plan"), and Section 6.7 of the 1994 Stock Option Plan of Apartment Investment
and Management Company (the "1994 Plan") specifically provide that, to the
fullest extent permitted by law, each of the members of the Board of Directors
of AIMCO (the "Board"), the Compensation Committee of the Board and each of the
directors, officers and employees of AIMCO, any AIMCO subsidiary, the Operating
Partnership and any subsidiary of the Operating Partnership shall be held
harmless and indemnified by AIMCO for any liability, loss (including amounts
paid in settlement), damages or expenses (including reasonable attorneys' fees)
suffered by virtue of any determinations, acts or failures to act, or alleged
acts
II-2
<PAGE>
or failures to act, in connection with the administration of the 1997 Plan, the
Non-Qualified Plan, the 1996 Plan or the 1994 Plan, as the case may be, so long
as such person is not determined by a final adjudication to be guilty of willful
misconduct with respect to such determination, action or failure to act.
ITEM 7. EXEMPTION FROM REGISTRATION CLAIMED.
Not applicable.
ITEM 8. EXHIBITS.
<TABLE>
<C> <S>
4.6 Specimen certificate for Class A Common Stock (incorporated by reference from
AIMCO's Registration Statement on Form 8-A filed on July 19, 1994).
5.1 Opinion of Piper & Marbury L.L.P. regarding the validity of the Securities offered
hereby.
23.1 Consent of Ernst & Young LLP.
23.2 Consent of Piper & Marbury L.L.P. (included in their opinion filed as Exhibit 5.1).
23.3 Consent of Arthur Andersen LLP dated December 5, 1997.
23.4 Consent of Deloitte & Touche LLP dated December 5, 1997.
23.5 Consent of Anders, Minkler & Diehl LLP dated December 5, 1997.
23.6 Consent of Dauby O'Connor & Zaleski, LLC dated December 5, 1997.
23.7 Consent of Edwards Leap & Sauer dated December 5, 1997.
23.8 Consent of Fishbein & Company, P.C. dated December 5, 1997.
23.9 Consent of Freeman & Vessillo, C.P.A., P.C. dated December 5, 1997.
23.10 Consent of Friduss, Lukee, Schiff & Co., PC dated December 5, 1997.
23.11 Consent of George A. Hieronymous and Company, LLC dated December 5, 1997.
23.12 Consent of Goldenberg Rosenthal Friedlander, LLP dated December 5, 1997.
23.13 Consent of Hansen, Hunter & Kibbee, P.C. dated December 5, 1997.
23.14 Consent of J.H. Cohn LLP dated December 5, 1997.
23.15 Consent of J.A. Plumer & Co., P.A. dated December 5, 1997.
23.16 Consent of Marks Shron & Company, LLP dated December 5, 1997.
23.17 Consent of Prague & Company, P.C. dated December 5, 1997.
23.18 Consent of Reznick Fedder & Silverman dated December 5, 1997.
23.19 Consent of Robert Ercolini & Company LLP dated December 5, 1997.
23.20 Consent of Russell, Thompson, Butler & Houston dated December 5, 1997.
23.21 Consent of Sciarabba Walker & Co., LLP dated December 5, 1997.
23.22 Consent of Wallace Sanders & Company dated December 5, 1997.
23.23 Consent of Warady and Davis dated December 5, 1997.
23.24 Consent of Ziner & Company, P.C. dated December 5, 1997.
23.25 Consent of Zinner & Co. dated December 5, 1997.
23.26 Consent of Deloitte & Touche LLP dated December 5, 1997.
24 Power of Attorney (included on page II-5).
</TABLE>
II-3
<PAGE>
ITEM 9. UNDERTAKINGS.
(a) The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made,
a post-effective amendment to this registration statement:
(i) To include any prospectus required by section 10(a)(3) of the
Securities Act of 1933;
(ii) To reflect in the prospectus any facts or events arising after
the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set forth in
the registration statement. Notwithstanding the foregoing, any increase
or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering
range may be reflected in the form of prospectus filed with the
Commission pursuant to Rule 424(b) if, in the aggregate, the changes in
volume and price represent no more than a 20% change in the maximum
aggregate offering price set forth in the "Calculation of Registration
Fee" table in the effective registration statement;
(iii) To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or
any material change to such information in the registration statement;
PROVIDED, HOWEVER, that paragraphs (a)(1)(i) and (a)(1)(ii) shall
not apply if the registration statement is on Form S-3, Form S-8 or Form
F-3, and the information required to be included in a post-effective
amendment by those paragraphs is contained in periodic reports filed
with or furnished to the Commission by the registrant pursuant to
Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that
are incorporated by reference in the registration statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to
be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.
(b) The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Securities Exchange Act of
1934) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial BONA FIDE offering thereof.
(c) Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses
incurred or paid by a director, officer or controlling person of the registrant
in the successful defense of any action, suit, or proceeding) is asserted by
such director, officer or controlling person in connection with the securities
being registered, the registrant will, unless in the opinion of its counsel the
matter has been settled by controlling precedent, submit to a court of
appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Act and will be governed by the final
adjudication of such issue.
II-4
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this registration
statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Denver, State of Colorado, on this 5th day of
December, 1997.
APARTMENT INVESTMENT AND
MANAGEMENT COMPANY
By: /s/ Terry Considine
------------------------------------
Terry Considine,
CHAIRMAN OF THE BOARD AND
CHIEF EXECUTIVE OFFICER
POWER OF ATTORNEY
Each person whose signature appears below constitutes and appoints Terry
Considine and Peter K. Kompaniez his or her true and lawful attorney-in-fact and
agents, each acting alone, with full power of substitution and resubstitution,
for him or her and in his or her name, place and stead, in any and all
capacities, to sign any or all amendments (including post-effective amendments)
to this Registration Statement, and to file the same, with all exhibits thereto,
and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorneys-in-fact and agents, each acting alone,
full power and authority to do and perform each and every act and thing
requisite and necessary to be done in and about the premises, as fully to all
intents and purposes as he or she might or could do in person, hereby ratifying
and confirming all that said attorneys-in-fact and agents, each acting alone, or
his or her substitute or substitutes, may lawfully do or cause to be done by
virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
registration statement has been signed below by the following persons in the
capacities and on the dates indicated.
<TABLE>
<CAPTION>
SIGNATURE TITLE DATE
- ------------------------------ -------------------------- -------------------
<C> <S> <C>
Chairman of the Board and
/s/ TERRY CONSIDINE Chief Executive Officer
- ------------------------------ (Principal Executive December 5, 1997
Terry Considine Officer)
Senior Vice President,
/s/ TROY D. BUTTS Chief Financial Officer
- ------------------------------ (Principal Financial December 5, 1997
Troy D. Butts Officer)
Vice President and Chief
/s/ PATRICIA K. HEATH Accounting Officer
- ------------------------------ (Principal Accounting December 5, 1997
Patricia K. Heath Officer)
/s/ PETER K. KOMPANIEZ
- ------------------------------ Vice Chairman, President December 5, 1997
Peter K. Kompaniez and Director
</TABLE>
II-5
<PAGE>
<TABLE>
<CAPTION>
SIGNATURE TITLE DATE
- ------------------------------ -------------------------- -------------------
<C> <S> <C>
- ------------------------------ Director December 5, 1997
Richard S. Ellwood
/s/ J. LANDIS MARTIN
- ------------------------------ Director December 5, 1997
J. Landis Martin
/s/ THOMAS L. RHODES
- ------------------------------ Director December 5, 1997
Thomas L. Rhodes
/s/ JOHN D. SMITH
- ------------------------------ Director December 5, 1997
John D. Smith
</TABLE>
<PAGE>
EXHIBIT 5.1
[LETTERHEAD OF PIPER & MARBURY L.L.P.]
DECEMBER 8, 1997
Apartment Investment and Management Company
1873 South Bellaire Street, Suite 1700
Denver, Colorado 80222
Gentlemen:
We have acted as Maryland counsel to Apartment Investment and Management
Company, a Maryland corporation (the "Company"), in connection with the
registration under the Securities Act of 1933, as amended (the "Act"),
pursuant to a Registration Statement on Form S-8 of the Company (the
"Registration Statement") filed with the Securities and Exchange Commission
(the "Commission"), of up to 595,324 shares of Class A Common Stock, par
value $.01 per share, of the Company (the "Shares") to be issued pursuant to
the 1990 Stock Option Plan of NHP Incorporated, the 1995 Incentive Stock
Option Plan of NHP Incorporated and the Stock Option Agreement, dated as of
August 18, 1995, between NHP Incorporated and J. Roderick Heller, III, in
each case in connection with the transactions contemplated by the Amended and
Restated Agreement and Plan of Merger (the "Agreement"), dated as of April
21, 1997 and amended as of October 14, 1997, by and among the Company,
AIMCO/NHP Acquisition Corp., a wholly owned subsidiary of the Company, and
NHP Incorporated, a Delaware corporation.
In our capacity as Maryland counsel to the Company, we have examined the
Registration Statement, the Charter and By-laws of the Company, as amended
and restated and in effect on the date hereof, minutes of the proceedings of
the Company's Board of Directors authorizing the issuance of the Shares and
authorizing the Agreement, and such other documents as we have considered
necessary. We have also examined an Officer's Certificate of the Company
dated the date hereof (the "Certificate"). In such examination, we have
assumed, without independent investigation, the genuineness of all
signatures, the legal capacity of all individuals who have executed any of
the aforsaid documents, the authenticity of all documents submitted to us as
originals, the conformity with originals of all documents submitted to us as
copies (and the authenticity of the originals of such copies), and all public
records reviewed are accurate and complete. As to factual matters we have
relied on the Certificate and have not independently verified the matters
stated therein.
Based upon the forgoing and having regard for such legal considerations
as we deem relevant, we are of the opinion and so advise you that upon the
issuance and delivery of the Shares in accordance with the terms set forth in
the Agreement, the Shares will have been duly and validly authorized and will
be validly issued, fully paid, and non-assessable.
<PAGE>
Apartment Investment and Management Company
December 8, 1997
Page 2
We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement. In giving our consent, we do not thereby admit that
we are in the category of persons whose consent is required under Section 7
of the Act or the rules and regulations of the Commission thereunder.
Very truly yours,
/s/ Piper & Marbury L.L.P.
<PAGE>
EXHIBIT 23.1
CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement
(Form S-8) of Apartment Investment and Management Company for the
registration of 595,324 shares of Class A Common Stock of (i) our report
dated January 24, 1997, except for Note 4 and Note 20, as to which the date
is March 25, 1997, with respect to the consolidated financial statements and
schedule of Apartment Investment and Management Company included in its
Annual Report (Form 10-K) for the year ended December 31, 1996, filed with
the Securities and Exchange Commission (the "Annual Report"), (ii) our report
dated January 20, 1995, with respect to the combined financial statements and
schedule of the AIMCO Predecessors (as defined in the notes thereto) included
in the Annual Report, (iii) our report dated January 8, 1997 with respect to
the Historical Summary of Gross Income and Direct Operating Expenses of Villa
Ladera Apartments for the year ended December 31, 1995 included in Apartment
Investment and Management Company's Current Report on Form 8-K dated December
19, 1996, filed with the Securities and Exchange Commission, (iv) our report
dated May 27, 1997 with respect to the Historical Summary of Gross Income and
Certain Expenses of The Bay Club at Aventura for the year ended December 31,
1996 included in Amendment No. 1 to Apartment Investment and Management
Company's Current Report on Form 8-K dated June 3, 1997, and (v) our report
dated August 29, 1997 with respect to the Historical Summary of Gross Income
and Direct Operating Expenses of Morton Towers for the year ended December
31, 1996 included in Apartment Investment and Management Company's Current
Report on Form 8-K dated September 19, 1997, filed with the Securities and
Exchange Commission.
ERNST & YOUNG LLP
/s/ Ernst & Young LLP
Dallas, Texas
December 4, 1997
<PAGE>
Exhibit 23.3
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation by
reference in this Registration Statement on Form S-8 and related Prospectus,
filed with the Securities and Exchange Commission by Apartment Investment and
Management Company ("AIMCO"), of our report on NHP Incorporated dated April
23, 1997 (except with respect to the matters discussed in Note 5 and
"Discontinued Real Estate Operations" in Note 2, as to which the dates are
October 3, 1997 and October 21, 1997, respectively), included in Amendment
No. 3 to AIMCO's Current Report on Form 8-K/A dated April 16, 1997, and to
all references to our Firm included in this Registration Statement.
We further consent to the incorporation by reference in this Registration
Statement on Form S-8, and related Prospectus, of our report on the NHP Real
Estate Companies (as defined in Note 1) dated May 5, 1997 (except with
respect to the matters discussed in Note 17 and "Investment in Real Estate
Partnerships" in Note 1, as to which the dates are June 3, 1997 and October
21, 1997, respectively), included in Amendment No. 5 to AIMCO's Current
Report on Form 8-K/A dated June 3, 1997, and to all references to our Firm
included in this Registration Statement.
We further consent to the incorporation by reference in this Registration
Statement on Form S-8, and related Prospectus, of our report on NHP Southwest
Partners, LP dated April 11, 1997 (except with respect to the matters
discussed in Note 7 and Note 3, as to which the dates are June 3, 1997 and
October 21, 1997, respectively) included in Amendment No. 5 to AIMCO's
Current Report on Form 8-K/A dated June 3, 1997, and to all references to our
Firm included in this Registration Statement.
We further consent to the incorporation by reference in this Registration
Statement on Form S-8, and related Prospectus, of our reports with respect to
the entities detailed below, all included in Amendment No. 1 to AIMCO's
Current Report on Form 8-K/A dated June 3, 1997, and to all references to our
Firm included in this Registration Statement.
<TABLE>
Entities Periods Report Date
- -------------------------- ------------------------------ --------------------------
<S> <C> <C>
NHP New LP Entities Period from January 20, 1995 to February 20, 1997 (except
(as defined in Note 1) December 31, 1995, and the Year with respect to the
ended December 31, 1996 matters discussed in
Note 8, as to which the
date is June 3, 1997)
NHP Borrower Entities Period from January 20, 1995 to February 20, 1997 (except
(as defined in Note 1) December 31, 1995, and the Year with respect to the matters
ended December 31, 1996 discussed in Note 8, as to
which the date is June 3,
1997)
</TABLE>
/s/ Arthur Andersen LLP
Washington, D.C.,
December 5, 1997
<PAGE>
Exhibit 23.4
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in this Registration Statement
of Apartment Investment and Management Company (AIMCO) on Form S-8 of our
reports on the financial statements of certain Partnerships for the year
ended December 31, 1994, incorporated by reference in Amendment No. 1 and
Amendment No. 3 to AIMCO's Current Report on Form 8-K dated June 3, 1997, and
in Amendment No. 1 and Amendment No. 2 to AIMCO's Current Report on Form 8-K
dated April 16, 1997, which reports are dated as shown in the following
Appendices (Items 1 through 5), and as indicated below (Items 6 through 16):
1) Appendix A-94
2) Appendix B-94 (each of which expresses an unqualified opinion and
includes an explanatory paragraph relating to the Partnership's ability
to continue as a going concern)
3) Appendix C-94 (each of which expresses a qualified opinion as a result of
cumulative unpaid distributions recorded according to HUD guidelines
which is not in accordance with generally accepted accounting principles)
4) Appendix D-94 (each of which expresses an unqualified opinion and
includes an explanatory paragraph relating to the change in 1993 of the
Partnership's method of computing depreciation)
5) Appendix E-94 (each of which expresses an unqualified opinion and
includes an explanatory paragraph relating to the expiration of a Housing
Assistance Payment Contract)
6) Franklin Northwoods Associates, A Limited Partnership, dated March 3,
1995 (which expresses an unqualified opinion and includes an explanatory
paragraph noting that the mortgage lender has the option to require full
payment of all amounts outstanding after December 1, 1994)
7) Franklin Woods Associates, A Limited Partnership, dated March 14, 1995
(which expresses an unqualified opinion and includes an explanatory
paragraph noting that the mortgage note payable and related accrued
interest are due June 30, 1997)
8) Green Mountain Manor Limited Partnership, dated February 17, 1995 (which
expresses an unqualified opinion and includes explanatory paragraphs
relating to the expiration of a Housing Assistance Payment Contract and a
deferred acquisition note and related accrued interest which is due on
February 17, 1996)
Page 1 of 3
<PAGE>
9) Hilltop Apartment Associates, A Limited Partnership, dated February 13,
1995 (which expresses an unqualified opinion and includes explanatory
paragraphs relating to the change in 1993 of the Partnership's method of
computing depreciation and the Partnership's revised estimate in 1993 of
interest due on loans from one of its partners)
10) Leyden Limited Partnership, dated February 8, 1995 (which expresses an
unqualified opinion and includes explanatory paragraphs relating to the
Partnership's ability to continue as a going concern and the correction
of the Partnership's method of computing accrued interest on a deferred
acquisition note)
11) Madison Hill Limited Partnership, dated March 1, 1995 (which expresses an
unqualified opinion and includes an explanatory paragraph relating to the
transfer of substantially all of its assets, liabilities and its deed in
lieu of foreclosure, during February 1995, in return for $50,000)
12) Montblanc Garden Apartments Associates, A Limited Partnership, dated
March 17, 1995 (which expresses an unqualified opinion and includes an
explanatory paragraph relating to a disputed outstanding mortgage
principal balance)
13) Pavilion Associates, A Limited Partnership, dated January 19, 1995 (which
expresses an unqualified opinion and includes an explanatory paragraph
relating to a deferred acquisition note and related accrued interest, and
real estate notes payable which are due February 16, 1996)
14) Spring Meadow Limited Partnership, dated February 13, 1995 (which
expresses an unqualified opinion and includes explanatory paragraphs
relating to the Partnership's ability to continue as a going concern and
the correction of the Partnership's method of computing accrued interest
on a deferred acquisition note and the correction of an error relating to
Partnership cash reflected in the financial statements)
15) Spruce Limited Partnership, dated February 6, 1995 (which expresses an
unqualified opinion and includes an explanatory paragraph relating to the
correction of the Partnership's method of computing accrued interest on a
deferred acquisition note for the years 1992 and prior and the correction
of an error relating to Partnership cash reflected in the financial
statements)
16) Waterman Limited Partnership, dated January 13, 1995 (which expresses a
qualified opinion as a result of cumulative unpaid distributions recorded
according to HUD guidelines which is not in accordance with generally
accepted accounting principles, and includes an explanatory paragraph
regarding a deferred acquisition note and related accrued interest which
is due on April 18, 1996)
Page 2 of 3
<PAGE>
/s/ Deloitte & Touche LLP
Deloitte & Touche LLP
McLean, Virginia
December 5, 1997
Page 3 of 3
<PAGE>
<TABLE>
<CAPTION>
Appendix A-94
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
107-145 West 135th Street Associates February 9, 1995
Algonquin Tower Limited Partnership February 9, 1995
All Hallows Associates January 26, 1995
Allentown Towne House Limited Partnership January 26, 1995
Anglers Manor Associates February 2, 1995
Antioch Apartments, Ltd. January 11, 1995
Arvada House Associates February 2, 1995
Audobon Park Associates January 12, 1995
Baldwin Oaks Elderly, Ltd. February 6, 1995
Baldwin Towers Associates February 10, 1995
Basswood Manor Limited Partnership January 25, 1995
Bayview Hunters Point Apartments January 26, 1995
Bensalem Gardens Associates February 3, 1995
Berkley Limited Partnership February 14, 1995
Bloomsburg Elderly Associates February 1, 1995
Briarwood Apartments January 19, 1995
Brinton Manor No. 1 Associates January 21, 1995
Brinton Towers Associates January 24, 1995
Brookside Apartments Associates February 1, 1995
Buena Vista Apartments, Ltd. January 16, 1995
Cabell Associates of Lakeview January 21, 1995
California Square Limited Partnership January 30, 1995
California Square II Limited Partnership January 30, 1995
Campbell Heights Associates February 2, 1995
Canterbury Gardens Associates February 1, 1995
Capital Park Limited Partnership January 19, 1995
Center Square Associates January 25, 1995
Chapel NDP January 30, 1995
Cheyenne Village Apartments, Ltd. February 3, 1995
College Heights January 19, 1995
College Park Apartments February 8, 1995
College Park Associates January 27, 1995
Community Developers of High Point January 30, 1995
Congress Park Associates II February 9, 1995
Copperwood Limited January 31, 1995
Copperwood II Limited January 25, 1995
Cypress Gardens, Limited January 20, 1995
Darby Townhouses Associates January 18, 1995
Darbytown Development Associates January 11, 1995
Delcar-S, Ltd. January 9, 1995
Delcar-T, Ltd. January 20, 1995
DIP Limited Partnership January 20, 1995
DIP Limited Partnership-II February 3, 1995
DIP Limited Partnership III February 15, 1995
</TABLE>
Page 1
<PAGE>
<TABLE>
<CAPTION>
Appendix A-94
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Discovery Limited Partnership February 7, 1995
Doral Gardens Associates February 1, 1995
Duquesne Associates No. 1 January 16, 1995
Edmond Estates Limited Partnership January 21, 1995
Elden Limited Partnership January 30, 1995
Esbro Limited Partnership January 12, 1995
Fairmont #1 Limited Partnership February 3, 1995
Fairmont #2 Limited Partnership February 6, 1995
Fairwood Associates February 6, 1995
Federal Square Village January 18, 1995
Field Associates January 21, 1995
Forest Green Limited Partnership January 16, 1995
Forest Park Elderly Associates January 13, 1995
Forrester Gardens, Ltd. January 12, 1995
Fort Carson Associates January 12, 1995
Foxwood Manor Associates January 11, 1995
Franklin Chapel Hill Associates February 23, 1995
Franklin Park Limited Partnership February 9, 1995
Friendset Housing Company January 17, 1995
Frio Housing, Ltd. February 2, 1995
G.W. Carver Limited January 26, 1995
Galion Limited Partnership January 30, 1995
Garfield Hill Associates January 17, 1995
Gateway Village Associates January 18, 1995
Gladys Hampton Houses Associates February 6, 1995
Golden Apartments I February 6, 1995
Golden Apartments II March 1, 1995
Grandview Apartments January 11, 1995
Greater Mount Calvary Terrace, Ltd. January 18, 1995
Greater Richmond Community Development February 14, 1995
Corp. I and Associates
Greater Richmond Community Development February 13, 1995
Corp. II and Associates
Griffith Limited Partnership January 11, 1995
Gulfway Limited Partnership January 13, 1995
H.R.H. Properties, Ltd. February 3, 1995
Hamilton Heights Associates January 26, 1995
Harold House Limited Partnership January 14, 1995
Hatillo Housing Associates March 17, 1995
Hickory Ridge Associates, Ltd. January 19, 1995
Hillcrest Green Apartments, Ltd. January 10, 1995
Hillside Village Associates February 9, 1995
Hilltop Limited Partnership January 17, 1995
Hopkins Renaissance Associates February 1, 1995
</TABLE>
Page 2
<PAGE>
<TABLE>
<CAPTION>
Appendix A-94
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Hudson Terrace Associates January 26, 1995
Hurbell II Limited Partnership January 13, 1995
Indian Valley I Limited Partnership January 30, 1995
Indian Valley II Limited Partnership January 30, 1995
Indian Valley III Limited Partnership January 30, 1995
Ingram Square Apartments, Ltd. January 26, 1995
Jamestown Village Associates January 12, 1995
Jersey Park Associates January 20, 1995
JFK Associates January 26, 1995
Johnston Square Associates January 17, 1995
JVL 16 Associates January 16, 1995
Kennedy Homes Limited Partnership January 17, 1995
Key Parkway West Associates January 30, 1995
Kimberly Associates Limited Partnership January 10, 1995
La Salle Apartments January 17, 1995
La Vista Associates February 9, 1995
Lafayette Manor Associates February 15, 1995
Lafayette Towne Elderly, Ltd. February 3, 1995
Lafayette Towne Family, Ltd. February 3, 1995
Lake Forest Apartments January 20, 1995
Las Americas Housing Associates March 17, 1995
Lassen Associates January 31, 1995
Laurel Gardens February 1, 1995
Lewisburg Associates January 26, 1995
Lewisburg Elderly Associates January 19, 1995
Lincmar Associates January 31, 1995
Lincoln Park Associates February 3, 1995
Lock Haven Elderly Associates February 7, 1995
Lock Haven Gardens Associates January 30, 1995
Loring Towers Apartments Limited Partnership January 12, 1995
M & P Development Company January 13, 1995
Maple Park East Limited Partnership January 17, 1995
Maple Park West Limited Partnership January 10, 1995
Mayfair Manor Limited Partnership January 16, 1995
Meadowood Apartments-Phase I (Meadowood January 17, 1995
Associates, Ltd.)
Meadowood Apartments-Phase II (Meadowood January 12, 1995
Associates, Ltd.)
Meadows Apartments Limited Partnership January 23, 1995
Meadows East Apartments Limited Partnership January 17, 1995
Menlo Limited Partnership January 13, 1995
Merced Commons II February 7, 1995
Mill Street Associates February 3, 1995
Miramar Housing Associates March 17, 1995
</TABLE>
Page 3
<PAGE>
<TABLE>
<CAPTION>
Appendix A-94
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Montblanc Housing Associates March 17, 1995
Morrisania Towers Housing Company January 25, 1995
Moss Gardens Ltd. February 1, 1995
Murphy Blair Associates III February 1, 1995
New Lake Village Apartments January 20, 1995
New West 111th Street Housing Company February 3, 1995
Newton Hill Limited Partnership January 30, 1995
Northgate Village Limited Partnership January 16, 1995
Northlake Terrace Associates February 8, 1995
Northwest Terrace Associates February 8, 1995
Oakland Village Townhouse Associates February 8, 1995
Ocala Place, Ltd. February 7, 1995
One Lytle Place February 2, 1995
One West Conway Associates February 22, 1995
Orange Village Associates February 8, 1995
Palm House Limited Partnership January 30, 1995
Park Avenue West I Limited Partnership January 30, 1995
Park Avenue West II Limited Partnership January 30, 1995
Park Creek Limited Partnership January 11, 1995
Place One Limited Partnership February 11, 1995
Portland Plaza Partnership February 7, 1995
Portner Place Associates February 15, 1995
Post Street Associates January 25, 1995
Pride Gardens Limited Partnership January 20, 1995
Pueblo Apartments Associates, Ltd. January 20, 1995
RI-15 Limited Partnership February 3, 1995
River Front Apartments Limited Partnership January 11, 1995
River Woods Associates February 13, 1995
Riverview II Associates January 27, 1995
Rockwell Limited Partnership January 13, 1995
Rolling Meadows Of Ada, Ltd. January 10, 1995
Ruffin Road Associates February 6, 1995
Rutherford Park Townhouses Associates February 8, 1995
San Jose Limited Partnership January 12, 1995
San Juan Del Centro Limited Partnership January 17, 1995
Sencit Towne House Limited Partnership January 25, 1995
Shoreview Apartments February 8, 1995
Site 10 Community Alliance Associates February 7, 1995
Sleepy Hollow Apartments January 26, 1995
SNI Development Company January 24, 1995
Southmont Apartments January 31, 1995
Southward Limited Partnership January 13, 1995
Stafford Apartments January 27, 1995
Stock Island Limited Partnership January 18, 1995
</TABLE>
Page 4
<PAGE>
<TABLE>
<CAPTION>
Appendix A-94
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Storey Manor Associates February 3, 1995
Strawbridge Square Associates Limited Partnership February 6, 1995
Summersong Townhouses Limited Partnership January 26, 1995
Sunrise Associates February 10, 1995
Sunset Plaza Apartments January 20, 1995
Susquehanna View Limited Partnership January 16, 1995
Timberlake Apartments Limited Partnership January 19, 1995
Timuquana Park Associates January 18, 1995
Tinker Creek Limited Partnership January 10, 1995
Town North January 18, 1995
Treeslope Apartments Associates January 26, 1995
Trinity Towers-14th Street Associates, Ltd. March 7, 1995
United Handicap Federation Apartment Associates February 13, 1995
United House Associates February 9, 1995
United Housing Partners-Carbondale, Ltd. February 8, 1995
United Redevelopment Associates January 26, 1995
University Plaza Associates February 9, 1995
Vantage 78 March 7, 1995
Villa De Guadalupe Associates January 16, 1995
Village Circle Apartments, Ltd. January 31, 1995
Village Green Limited Partnership January 20, 1995
Vistas De San Juan Associates February 13, 1995
Waico Apartments Associates January 17, 1995
Waico Phase II Associates February 1, 1995
Walden Oaks Associates January 31, 1995
Walmsley Terrace Associates January 18, 1995
Walnut Hills Associates, Ltd. January 13, 1995
Wash-West Properties January 31, 1995
Waters Towers Associates January 12, 1995
West Oak Village Limited Partnership January 27, 1995
Whitefield Place, Ltd. January 26, 1995
Woodmark Limited Partnership January 30, 1995
Yadkin Associates January 13, 1995
</TABLE>
Page 5
<PAGE>
Appendix B-94
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Boynton Beach Limited Partnership March 17, 1995
Central Village Associates February 10, 1995
Cheek Road Limited Partnership February 7, 1995
Clay Courts Associates January 12, 1995
Eastman Associates January 24, 1995
Elm Creek Limited Partnership February 7, 1995
Fairmeadows Limited Partnership January 12, 1995
Fairview Homes Associates January 27, 1995
Franklin Eagle Rock Associates February 28, 1995
Franklin Pheasant Ridge Associates March 1, 1995
Franklin Ridgewood Associates February 24, 1995
Hamilton Gardens, Ltd. February 13, 1995
JVL Limited January 14, 1995
JVL 18 Associates February 3, 1995
JVL 19 Associates January 27, 1995
Langenheim Associates February 1, 1995
Meadowood Associates III, Ltd. January 15, 1995
New West 111th Street Two Associates January 25, 1995
Olde Rivertown Venture February 2, 1995
Retirement Manor Associates February 17, 1995
Royal Towers Limited Partnership January 12, 1995
Southridge Apartments Limited Partnership January 10, 1995
Springfield Limited Partnership January 13, 1995
Trinity Apartments January 13, 1995
Village Park II February 3, 1995
</TABLE>
<PAGE>
Appendix C-94
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Cottonwood Apartments January 11, 1995
Kenneth Arms Apartments January 9, 1995
Knollcrest Apartments January 21, 1995
Manzanita Arms Apartments January 11, 1995
Overbrook Park, Ltd. January 23, 1995
Rancho Arms Apartments January 17, 1995
San Juan Apartments January 24, 1995
Trinity Hills Village Apartments January 13, 1995
Tumast Associates February 8, 1995
Verdes Del Oriente February 1, 1995
</TABLE>
<PAGE>
Appendix D-94
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Cumberland Court Associates February 9, 1995
Maple Hill Associates February 15, 1995
Merced Commons I February 1, 1995
</TABLE>
<PAGE>
Appendix E-94
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Brightwood Manor Associates January 26, 1995
Caroline Arms Limited Partnership January 18, 1995
Richlieu Associates February 11, 1995
Sherman Terrace Associates January 13, 1995
Washington Manor Limited Partnership January 26, 1995
</TABLE>
<PAGE>
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in this Registration Statement
of Apartment Investment and Management Company (AIMCO) on Form S-8 of our
reports on the financial statements of certain Partnerships for the year
ended December 31, 1995 (except for Item 4 below which is for the period
January 1, 1995 to August 7, 1995), included in Amendment No. 1 and
incorporated by reference in Amendment No. 3 to AIMCO's Current Report on
Form 8-K dated June 3, 1997, which reports are dated as shown in the
following Appendices (Items 1 through 3), and as indicated below (Items 4
through 6):
1) Appendix A-95
2) Appendix B-95 (each of which expresses an unqualified opinion and includes
an explanatory paragraph relating to the Partnership's ability to continue
as a going concern)
3) Appendix C-95 (each of which expresses an unqualified opinion and refers to
the reports of other auditors)
4) Hamilton Gardens, Ltd., A Limited Partnership, dated September 7, 1995
(which expresses an unqualified opinion and includes an explanatory
paragraph relating to the sale, by court order, of the property owned by
the Partnership, pursuant to foreclosure proceedings and that title passed
to the new owners on August 8, 1995)
5) Spring Bright Limited Partnership, A Limited Partnership, dated March 11,
1996 (which expresses an unqualified opinion, refers to the report of
other auditors and includes an explanatory paragraph relating to the
Partnership's ability to continue as a going concern)
6) Wash-West Properties, A Limited Partnership, dated February 6, 1996 (which
expresses an unqualified opinion and includes an explanatory paragraph
relating to the correction of the Partnership's method of computing accrued
interest on the Redevelopment Authority promissory note)
/s/ Deloitte & Touche LLP
Deloitte & Touche LLP
McLean, Virginia
December 5, 1997
<PAGE>
Appendix A-95
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
107-145 West 135th Street Associates February 7, 1996
Algonquin Tower Limited Partnership February 5, 1996
All Hallows Associates January 31, 1996
Allentown Towne House Limited Partnership January 25, 1996
Anglers Manor Associates February 8, 1996
Antioch Apartments, Ltd. February 5, 1996
Arvada House Associates January 30, 1996
Audobon Park Associates January 24, 1996
Baldwin Oaks Elderly, Ltd. February 12, 1996
Baldwin Towers Associates January 31, 1996
Basswood Manor Limited Partnership January 25, 1996
Bayview Hunters Point Apartments January 30, 1996
Bensalem Gardens Associates February 11, 1996
Berkley Limited Partnership February 7, 1996
Bloomsburg Elderly Associates February 3, 1996
Briarwood Apartments January 31, 1996
Brightwood Manor Associates January 31, 1996
Brinton Manor No. 1 Associates January 16, 1996
Brinton Towers Associates February 6, 1996
Brookside Apartments Associates January 31, 1996
Buena Vista Apartments, Ltd. January 20, 1996
Cabell Associates of Lakeview January 25, 1996
California Square Limited Partnership January 22, 1996
California Square II Limited Partnership January 23, 1996
Campbell Heights Associates February 5, 1996
Canterbury Gardens Associates February 6, 1996
Capital Park Limited Partnership January 18, 1996
Caroline Arms Limited Partnership January 31, 1996
Center Square Associates January 25, 1996
Chapel NDP February 6, 1996
Clay Courts Associates January 10, 1996
College Heights January 22, 1996
College Park Apartments February 15, 1996
College Park Associates February 13, 1996
Community Developers of High Point January 27, 1996
Congress Park Associates II January 15, 1996
Copperwood Limited February 2, 1996
Copperwood II Limited February 7, 1996
Cumberland Court Associates January 31, 1996
Cypress Gardens, Limited January 22, 1996
Darby Townhouses Associates January 22, 1996
Darbytown Development Associates January 22, 1996
Delcar-S, Ltd. January 16, 1996
Delcar-T, Ltd. January 25, 1996
DIP Limited Partnership January 19, 1996
DIP Limited Partnership-II January 30, 1996
DIP Limited Partnership III January 31, 1996
Discovery Limited Partnership February 1, 1996
Doral Gardens Associates February 9, 1996
</TABLE>
Page 1
<PAGE>
Appendix A-95
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Duquesne Associates No. 1 January 12, 1996
Edmond Estates Limited Partnership January 17, 1996
Elden Limited Partnership January 30, 1996
Esbro Limited Partnership January 14, 1996
Fairmont #1 Limited Partnership January 26, 1996
Fairmont #2 Limited Partnership February 8, 1996
Fairview Homes Associates January 23, 1996
Fairwood Associates February 7, 1996
Federal Square Village January 31, 1996
Field Associates February 3, 1996
Forest Green Limited Partnership January 24, 1996
Forest Park Elderly Associates February 7, 1996
Forrester Gardens, Ltd. January 10, 1996
Fort Carson Associates January 15, 1996
Foxwood Manor Associates February 15, 1996
Franklin Chapel Hill Associates February 5, 1996
Franklin Eagle Rock Associates February 15, 1996
Franklin Park Limited Partnership January 30, 1996
Franklin Pheasant Ridge Associates February 14, 1996
Franklin Woods Associates February 23, 1996
Friendset Housing Company February 21, 1996
Frio Housing, Ltd. February 2, 1996
G.W. Carver Limited January 24, 1996
Galion Limited Partnership January 25, 1996
Garfield Hill Associates February 6, 1996
Gateway Village Associates January 18, 1996
Gladys Hampton Houses Associates February 6, 1996
Golden Apartments I January 31, 1996
Golden Apartments II February 8, 1996
Grandview Apartments January 16, 1996
Greater Mount Calvary Terrace, Ltd. January 15, 1996
Greater Richmond Community Development Corp. I and Associates February 5, 1996
Greater Richmond Community Development Corp. II and Associates January 26, 1996
Griffith Limited Partnership January 17, 1996
Gulfway Limited Partnership January 18, 1996
H.R.H. Properties, Ltd. February 5, 1996
Hamilton Heights Associates February 14, 1996
Harold House Limited Partnership January 30, 1996
Hickory Ridge Associates, Ltd. February 2, 1996
Hillcrest Green Apartments, Ltd. January 11, 1996
Hillside Village Associates February 8, 1996
Hilltop Apartments Associates January 23, 1996
Hilltop Limited Partnership January 19, 1996
Hopkins Renaissance Associates February 14, 1996
Hudson Terrace Associates January 31, 1996
Hurbell II Limited Partnership January 20, 1996
Hurbell III Limited Partnership January 20, 1996
</TABLE>
Page 2
<PAGE>
Appendix A-95
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Indian Valley I Limited Partnership January 24, 1996
Indian Valley II Limited Partnership January 26, 1996
Indian Valley III Limited Partnership January 25, 1996
Ingram Square Apartments, Ltd. January 25, 1996
Jamestown Village Associates January 25, 1996
Jersey Park Associates January 17, 1996
JFK Associates February 15, 1996
Johnston Square Associates January 15, 1996
JVL 16 Associates January 18, 1996
Kennedy Homes Limited Partnership January 17, 1996
Key Parkway West Associates January 24, 1996
Kimberly Associates Limited Partnership January 15, 1996
La Salle Apartments February 5, 1996
La Vista Associates February 8, 1996
Lafayette Manor Associates February 9, 1996
Lafayette Towne Elderly, Ltd. January 17, 1996
Lafayette Towne Family, Ltd. January 25, 1996
Lake Forest Apartments January 19, 1996
Las Americas Housing Associates January 30, 1996
Lassen Associates February 2, 1996
Laurel Gardens January 31, 1996
Lewisburg Associates January 29, 1996
Lewisburg Elderly Associates February 6, 1996
Lincmar Associates January 26, 1996
Lincoln Park Associates February 7, 1996
Lock Haven Elderly Associates February 12, 1996
Lock Haven Gardens Associates January 29, 1996
Loring Towers Apartments Limited Partnership January 18, 1996
M & P Development Company January 31, 1996
Maple Hill Associates February 3, 1996
Mayfair Manor Limited Partnership January 16, 1996
Meadowood Associates III, Ltd. January 18, 1996
Meadows Apartments Limited Partnership February 5, 1996
Meadows East Apartments Limited Partnership January 29, 1996
Menlo Limited Partnership January 11, 1996
Merced Commons I January 30, 1996
Merced Commons II January 23, 1996
Mill Street Associates February 1, 1996
Miramar Housing Associates January 29, 1996
Montblanc Garden Apartments Associates February 9, 1996
Montblanc Housing Associates January 31, 1996
Morrisania Towers Housing Company January 31, 1996
Moss Gardens Ltd. February 1, 1996
Murphy Blair Associates III February 7, 1996
National Housing Partnership Realty Fund IV March 19, 1996
National Housing Partnership RESI Associates I March 18, 1996
New Lake Village Apartments January 26, 1996
New West 111th Street Housing Company February 12, 1996
Newton Hill Limited Partnership January 24, 1996
</TABLE>
Page 3
<PAGE>
Appendix A-95
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Northgate Village Limited Partnership January 19, 1996
Northlake Terrace Associates January 26, 1996
Northwest Terrace Associates February 19, 1996
Oakland Village Townhouse Associates February 12, 1996
Ocala Place, Ltd. January 31, 1996
One Lytle Place February 20, 1996
One West Conway Associates February 7, 1996
Orange Village Associates January 31, 1996
Palm House Limited Partnership January 30, 1996
Park Avenue West I Limited Partnership January 31, 1996
Park Avenue West II Limited Partnership January 26, 1996
Place One Limited Partnership February 13, 1996
Point West Limited Partnership January 31, 1996
Portfolio Properties Five Associates March 4, 1996
Portfolio Properties Six Associates March 6, 1996
Portfolio Properties Twelve Associates March 22, 1996
Portfolio Properties Two Associates March 2, 1996
Portland Plaza Partnership January 24, 1996
Portner Place Associates January 25, 1996
Post Street Associates February 6, 1996
Pueblo Apartments Associates, Ltd. January 22, 1996
RI-15 Limited Partnership February 9, 1996
Richlieu Associates February 20, 1996
River Front Apartments Limited Partnership January 31, 1996
River Woods Associates January 30, 1996
Riverview II Associates January 17, 1996
Rockwell Limited Partnership January 17, 1996
Rolling Meadows Of Ada, Ltd. January 15, 1996
Ruffin Road Associates February 7, 1996
Rutherford Park Townhouses Associates February 1, 1996
San Jose Limited Partnership January 13, 1996
San Juan Del Centro Limited Partnership January 24, 1996
Sencit Towne House Limited Partnership January 25, 1996
Sherman Terrace Associates January 31, 1996
Shoreview Apartments February 1, 1996
Site 10 Community Alliance Associates January 26, 1996
SNI Development Company February 5, 1996
Southmont Apartments February 5, 1996
Southward Limited Partnership January 19, 1996
Spruce Limited Partnership February 10, 1996
Spruce Palm Limited Partnership March 11, 1996
Stafford Apartments January 26, 1996
Stock Island Limited Partnership February 16, 1996
Storey Manor Associates January 30, 1996
Strawbridge Square Associates Limited Partnership February 7, 1996
Summersong Townhouses Limited Partnership January 25, 1996
Sunrise Associates January 27, 1996
Sunset Plaza Apartments January 18, 1996
Susquehanna View Limited Partnership January 17, 1996
</TABLE>
Page 4
<PAGE>
Appendix A-95
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Timuquana Park Associates January 18, 1996
Tinker Creek Limited Partnership January 15, 1996
Town North January 17, 1996
Townview Towers I Partnership, Ltd. February 11, 1996
Treeslope Apartments Associates January 26, 1996
Trinity Towers-14th Street Associates, Ltd. February 18, 1996
United Handicap Federation Apartment Associates February 8, 1996
United House Associates February 9, 1996
United Housing Partners-Carbondale, Ltd. February 10, 1996
United Redevelopment Associates January 27, 1996
University Plaza Associates February 14, 1996
Vantage 78 February 16, 1996
Villa De Guadalupe Associates January 11, 1996
Village Circle Apartments, Ltd. February 1, 1996
Village Green Limited Partnership January 19, 1996
Vistas De San Juan Associates January 25, 1996
Waico Apartments Associates January 17, 1996
Waico Phase II Associates January 30, 1996
Walden Oaks Associates February 10, 1996
Walmsley Terrace Associates January 20, 1996
Walnut Hills Associates, Ltd. January 26, 1996
Washington Manor Limited Partnership February 5, 1996
Waters Towers Associates January 15, 1996
Whitefield Place, Ltd. January 26, 1996
Woodmark Limited Partnership January 24, 1996
Yadkin Associates January 15, 1996
</TABLE>
Page 5
<PAGE>
Appendix B-95
PARTNERSHIP REPORT DATE
- ----------- -----------
Central Village Associates January 17, 1996
Cheek Road Limited Partnership February 15, 1996
Darby Townhouses Limited Partnership March 6, 1996
Doral Limited Partnership March 12, 1996
Eastman Associates January 29, 1996
Fairmeadows Limited Partnership January 20, 1996
Franklin Ridgewood Associates February 15, 1996
Green Mountain Manor Limited Partnership February 19, 1996
Hatillo Housing Associates February 28, 1996
JVL Limited January 15, 1996
JVL 18 Associates January 20, 1996
JVL 19 Associates January 23, 1996
Langenheim Associates January 31, 1996
Leyden Limited Partnership February 14, 1996
Maple Park East Limited Partnership February 1, 1996
Maple Park West Limited Partnership February 1, 1996
Meadowood Apartments-Phase I (Meadowood Associates, Ltd.) January 16, 1996
Meadowood Apartments-Phase II (Meadowood Associates, Ltd.) January 14, 1996
Meadowood Townhouses I Limited Partnership February 27, 1996
Meadowood Townhouses III Limited Partnership February 29, 1996
New West 111th Street Two Associates January 22, 1996
Olde Rivertown Venture January 19, 1996
Park Creek Limited Partnership January 15, 1996
Pavilion Associates January 18, 1996
Portfolio Properties Three Associates March 4, 1996
Retirement Manor Associates February 2, 1996
Royal Towers Limited Partnership January 23, 1996
Southridge Apartments Limited Partnership January 15, 1996
Spring Meadow Limited Partnership February 15, 1996
Timberlake Apartments Limited Partnership January 23, 1996
Trinity Apartments March 18, 1996
Village Park II February 19, 1996
West Oak Village Limited Partnership January 31, 1996
<PAGE>
Appendix C-95
PARTNERSHIP REPORT DATE
- ----------- -----------
National Housing Partnership Realty Fund I March 11, 1996
National Housing Partnership Realty Fund Two March 13, 1996
National Housing Partnership Realty Fund III March 15, 1996
Portfolio Properties Seven Associates March 6, 1996
Portfolio Properties Eight Associates March 12, 1996
Portfolio Properties Nine Associates March 13, 1996
Portfolio Properties Ten Associates March 7, 1996
<PAGE>
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in this Registration Statement
of Apartment Investment and Management Company (AIMCO) on Form S-8 of our
reports on the financial statements of certain Partnerships for the year
ended December 31, 1996 (except for Item 4 below which is for the period
January 1, 1996 to July 15, 1996), included in Amendment No. 1 and
incorporated by reference in Amendment No. 3 to AIMCO's Current Report on
Form 8-K dated June 3, 1997, which reports are dated as shown in the
following Appendices (Items 1 through 3), and as indicated below (Items 4
through 9):
1) Appendix A-96
2) Appendix B-96 (each of which expresses an unqualified opinion and includes
an explanatory paragraph relating to the Partnership's ability to continue
as a going concern)
3) Appendix C-96 (each of which expresses an unqualified opinion and refers to
the reports of other auditors)
4) Foxwood Manor Associates, A Limited Partnership, dated September 30, 1996
(December 31, 1996 as to Note 8) (which expresses an unqualified opinion
and includes an explanatory paragraph relating to the Partnership's sale of
the land, rental property and substantially all of its assets and
liabilities on July 16, 1996)
5) Hickory Ridge Associates, Ltd., A Limited Partnership, dated February 13,
1997 (which expresses an unqualified opinion and includes an explanatory
paragraph relating to the Partnership's financial loss due to the alleged
misappropriation of funds by former employees and falsifications of
documents to the Department of Housing and Urban Development)
6) Ocala Place, Ltd., A Limited Partnership, dated January 23, 1997 (which
expresses an unqualified opinion and includes an explanatory paragraph
relating to the Partnership's financial loss due to the alleged
misappropriation of funds by former employees and falsification of
documents to the Department of Housing and Urban Development)
7) Portfolio Properties Seven Associates, A Limited Partnership, dated
February 24, 1997 (which expresses an unqualified opinion, refers to the
report of other auditors and includes an explanatory paragraph relating to
the Partnership's ability to continue as a going concern)
Page 1 of 2
<PAGE>
8) Spring Bright Limited Partnership, A Limited Partnership, dated February
22, 1997 (which expresses an unqualified opinion, refers to the report of
other auditors and includes an explanatory paragraph relating to the
Partnership's ability to continue as a going concern)
9) Village Park II, A Limited Partnership, dated March 21, 1997 (which
expresses an unqualified opinion and includes explanatory paragraphs
relating to the Partnership's filing for reorganization under Chapter 11 of
the United States Bankruptcy Code and the Partnership's deeding its land,
rental property and substantially all of its assets to the mortgagee in
lieu of foreclosure on March 21, 1997)
/s/ Deloitte & Touche LLP
Deloitte & Touche LLP
McLean, Virginia
December 5, 1997
Page 2 of 2
<PAGE>
Appendix A-96
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
107-145 West 135th Street Associates February 14, 1997
Algonquin Tower Limited Partnership February 12, 1997
All Hallows Associates February 6, 1997
Allentown Towne House Limited Partnership January 19, 1997
Anglers Manor Associates January 31, 1997
Antioch Apartments, Ltd. February 4, 1997
Arvada House Associates February 7, 1997
Audobon Park Associates January 28, 1997
Baldwin Oaks Elderly, Ltd. January 17, 1997
Baldwin Towers Associates January 23, 1997
Basswood Manor Limited Partnership January 31, 1997
Bayview Hunters Point Apartments January 17, 1997
Bensalem Gardens Associates February 3, 1997
Berkley Limited Partnership February 8, 1997
Bloomsburg Elderly Associates January 13, 1997
Briarwood Apartments January 20, 1997
Brightwood Manor Associates January 24, 1997
Brinton Manor No. 1 Associates January 20, 1997
Brinton Towers Associates January 31, 1997
Brookside Apartments Associates January 15, 1997
Buena Vista Apartments, Ltd. January 16, 1997
Cabell Associates of Lakeview January 28, 1997
California Square Limited Partnership January 11, 1997
California Square II Limited Partnership January 28, 1997
Campbell Heights Associates January 29, 1997
Canterbury Gardens Associates February 5, 1997
Capital Park Limited Partnership January 17, 1997
Caroline Arms Limited Partnership January 17, 1997
Center Square Associates February 5, 1997
Chapel NDP February 4, 1997
Clay Courts Associates January 17, 1997
College Heights February 1, 1997
College Park Apartments February 6, 1997
College Park Associates February 7, 1997
Community Developers of High Point January 23, 1997
Congress Park Associates II February 11, 1997
Copperwood Limited January 20, 1997
Copperwood II Limited January 21, 1997
Cumberland Court Associates February 1, 1997
Darby Townhouses Associates February 5, 1997
Darbytown Development Associates January 24, 1997
Delcar-S, Ltd. January 16, 1997
Delcar-T, Ltd. January 16, 1997
DIP Limited Partnership January 10, 1997
DIP Limited Partnership-II February 13, 1997
DIP Limited Partnership III January 29, 1997
Discovery Limited Partnership January 16, 1997
Doral Gardens Associates February 3, 1997
</TABLE>
Page 1
<PAGE>
Appendix A-96
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Duquesne Associates No. 1 January 15, 1997
Edmond Estates Limited Partnership January 11, 1997
Elden Limited Partnership January 20, 1997
Fairmeadows Limited Partnership January 20, 1997
Fairmont #1 Limited Partnership January 30, 1997
Fairmont #2 Limited Partnership January 30, 1997
Fairview Homes Associates February 3, 1997
Fairwood Associates February 6, 1997
Federal Square Village January 20, 1997
Field Associates January 23, 1997
Forest Green Limited Partnership January 10, 1997
Forest Park Elderly Associates February 12, 1997
Forrester Gardens, Ltd. January 23, 1997
Fort Carson Associates January 21, 1997
Franklin Chapel Hill Associates February 12, 1997
Franklin Eagle Rock Associates February 1, 1997
Franklin Park Limited Partnership February 10, 1997
Franklin Ridgewood Associates Limited Partnership and
NHP Ridgewood Partners Limited Partnership February 15, 1997
Friendset Housing Company February 14, 1997
Frio Housing, Ltd. January 21, 1997
G.W. Carver Limited February 13, 1997
Galion Limited Partnership January 30, 1997
Garfield Hill Associates February 7, 1997
Gateway Village Associates January 17, 1997
Gladys Hampton Houses Associates February 8, 1997
Golden Apartments I February 12, 1997
Golden Apartments II February 14, 1997
Grandview Apartments January 15, 1997
Greater Mount Calvary Terrace, Ltd. January 21, 1997
Greater Richmond Community Development Corp. I and
Associates January 31, 1997
Greater Richmond Community Development Corp. II and
Associates January 30, 1997
H.R.H. Properties, Ltd. January 17, 1997
Hamilton Heights Associates January 28, 1997
Harold House Limited Partnership January 13, 1997
Hatillo Housing Associates February 4, 1997
Hillcrest Green Apartments, Ltd. January 25, 1997
Hillside Village Associates January 25, 1997
Hilltop Apartments Associates February 12, 1997
Hilltop Limited Partnership January 13, 1997
Hudson Terrace Associates January 31, 1997
Hurbell II Limited Partnership January 13, 1997
Hurbell III Limited Partnership January 15, 1997
Indian Valley I Limited Partnership January 30, 1997
Indian Valley II Limited Partnership January 30, 1997
Indian Valley III Limited Partnership January 29, 1997
Ingram Square Apartments, Ltd. February 6, 1997
Jamestown Village Associates January 22, 1997
</TABLE>
Page 2
<PAGE>
Appendix A-96
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Jersey Park Associates February 1, 1997
JFK Associates February 3, 1997
Johnston Square Associates January 20, 1997
Kennedy Homes Limited Partnership February 1, 1997
Key Parkway West Associates February 4, 1997
Kimberly Associates Limited Partnership January 11, 1997
La Salle Apartments February 10, 1997
La Vista Associates February 10, 1997
Lafayette Manor Associates February 13, 1997
Lafayette Towne Elderly, Ltd. January 24, 1997
Lafayette Towne Family, Ltd. January 25, 1997
Lake Forest Apartments January 17, 1997
Las Americas Housing Associates February 8, 1997
Lassen Associates January 31, 1997
Laurel Gardens January 27, 1997
Lewisburg Associates January 25, 1997
Lewisburg Elderly Associates January 24, 1997
Lincmar Associates January 29, 1997
Lincoln Park Associates February 5, 1997
Lock Haven Elderly Associates February 11, 1997
Lock Haven Gardens Associates February 11, 1997
Loring Towers Apartments Limited Partnership January 22, 1997
M & P Development Company January 29, 1997
Maple Hill Associates February 9, 1997
Merced Commons I January 10, 1997
Merced Commons II January 27, 1997
Mill Street Associates February 3, 1997
Miramar Housing Associates February 13, 1997
Montblanc Garden Apartments Associates January 30, 1997
Montblanc Housing Associates January 27, 1997
Morrisania Towers Housing Company January 24, 1997
Moss Gardens Ltd. February 5, 1997
Murphy Blair Associates III February 10, 1997
National Housing Partnership RESI Associates I February 26, 1997
New Lake Village Apartments January 18, 1997
New West 111th Street Housing Company January 27, 1997
Newton Hill Limited Partnership January 30, 1997
Northgate Village Limited Partnership January 16, 1997
Northlake Terrace Associates January 27, 1997
Northwest Terrace Associates January 31, 1997
Oakland Village Townhouse Associates February 10, 1997
One Lytle Place January 29, 1997
One West Conway Associates February 4, 1997
Orange Village Associates January 16, 1997
Palm House Limited Partnership January 29, 1997
Park Avenue West I Limited Partnership January 30, 1997
Park Avenue West II Limited Partnership January 30, 1997
Place One Limited Partnership February 7, 1997
Point West Limited Partnership January 28, 1997
Portfolio Properties Five Associates February 21, 1997
Portfolio Properties Twelve Associates February 25, 1997
</TABLE>
Page 3
<PAGE>
Appendix A-96
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Portland Plaza Partnership January 31, 1997
Portner Place Associates January 17, 1997
Post Street Associates January 31, 1997
Pueblo Apartments Associates, Ltd. January 23, 1997
PW III Associates February 12, 1997
PW IV Associates February 7, 1997
RI-15 Limited Partnership February 5, 1997
Richlieu Associates February 14, 1997
River Front Apartments Limited Partnership January 22, 1997
River Woods Associates January 30, 1997
Riverview II Associates January 14, 1997
Rolling Meadows Of Ada, Ltd. January 28, 1997
Ruffin Road Associates January 29, 1997
Rutherford Park Townhouses Associates January 10, 1997
San Jose Limited Partnership January 10, 1997
San Juan Del Centro Limited Partnership January 17, 1997
Sencit Towne House Limited Partnership January 27, 1997
Sherman Terrace Associates February 10, 1997
Shoreview Apartments February 10, 1997
Site 10 Community Alliance Associates February 3, 1997
SNI Development Company January 23, 1997
Southmont Apartments February 4, 1997
Southridge Apartments Limited Partnership January 10, 1997
Southward Limited Partnership January 20, 1997
Spruce Limited Partnership January 31, 1997
Spruce Palm Limited Partnership February 26, 1997
Stafford Apartments January 27, 1997
Stock Island Limited Partnership February 18, 1997
Storey Manor Associates February 5, 1997
Strawbridge Square Associates Limited Partnership February 14, 1997
Summersong Townhouses Limited Partnership February 5, 1997
Sunrise Associates February 10, 1997
Sunset Plaza Apartments February 5, 1997
Susquehanna View Limited Partnership January 16, 1997
Timberlake Apartments Limited Partnership February 7, 1997
Timuquana Park Associates January 29, 1997
Town North January 30, 1997
Townview Towers I Partnership, Ltd. February 10, 1997
Treeslope Apartments Associates January 27, 1997
Trinity Towers-14th Street Associates, Ltd. February 7, 1997
United Handicap Federation Apartment Associates February 3, 1997
United House Associates February 11, 1997
United Housing Partners-Carbondale, Ltd. February 7, 1997
United Redevelopment Associates January 27, 1997
University Plaza Associates February 14, 1997
Vantage 78 February 10, 1997
Villa De Guadalupe Associates February 6, 1997
Village Circle Apartments, Ltd. February 5, 1997
Village Green Limited Partnership January 17, 1997
</TABLE>
Page 4
<PAGE>
Appendix A-96
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
Vistas De San Juan Associates January 31, 1997
Waico Apartments Associates February 3, 1997
Waico Phase II Associates January 16, 1997
Walden Oaks Associates January 16, 1997
Walmsley Terrace Associates January 20, 1997
Walnut Hills Associates, Ltd. February 12, 1997
Wash-West Properties February 7, 1997
Washington Manor Limited Partnership January 14, 1997
Waters Towers Associates January 14, 1997
Whitefield Place, Ltd. February 4, 1997
Wigar, Ltd. January 20, 1997
Woodmark Limited Partnership January 18, 1997
Yadkin Associates February 10, 1997
</TABLE>
Page 5
<PAGE>
Appendix B-96
PARTNERSHIP REPORT DATE
- ----------- -----------
Central Village Associates January 30, 1997
Cheek Road Limited Partnership January 27, 1997
Darby Townhouses Limited Partnership February 20, 1997
Doral Limited Partnership February 27, 1997
Esbro Limited Partnership January 22, 1997
Franklin Pheasant Ridge Associates January 23, 1997
Franklin Woods Associates Limited Partnership
and Woods Mortgage Associates Limited
Partnership February 21, 1997
Green Mountain Manor Limited Partnership February 8, 1997
Griffith Limited Partnership January 20, 1997
Gulfway Limited Partnership January 17, 1997
JVL Limited January 20, 1997
JVL 16 Associates January 14, 1997
JVL 18 Associates January 15, 1997
JVL 19 Associates January 28, 1997
Maple Park East Limited Partnership January 30, 1997
Maple Park West Limited Partnership February 11, 1997
Mayfair Manor Limited Partnership January 21, 1997
Meadowood Apartments-Phase I (Meadowood
Associates, Ltd.) January 11, 1997
Meadowood Apartments-Phase II (Meadowood
Associates, Ltd.) January 10, 1997
Meadowood Associates III, Ltd. January 10, 1997
Meadowood Townhouses I Limited Partnership February 20, 1997
Meadowood Townhouses III Limited
Partnership February 19, 1997
Meadows Apartments Limited Partnership January 10, 1997
Meadows East Apartments Limited
Partnership January 16, 1997
Menlo Limited Partnership January 27, 1997
National Housing Partnership Realty Fund IV March 10, 1997
New West 111th Street Two Associates February 3, 1997
Olde Rivertown Venture February 19, 1997
Park Creek Limited Partnership February 13, 1997
Pavilion Associates February 6, 1997
Pershing Waterman Phase I January 30, 1997
Portfolio Properties Two Associates February 21, 1997
Portfolio Properties Three Associates February 22, 1997
Portfolio Properties Six Associates February 24, 1997
Rockwell Limited Partnership January 17, 1997
Royal Towers Limited Partnership February 13, 1997
Spring Meadow Limited Partnership January 28, 1997
Tinker Creek Limited Partnership January 16, 1997
Trinity Apartments January 11, 1997
West Oak Village Limited Partnership January 21, 1997
<PAGE>
Appendix C-96
<TABLE>
<CAPTION>
PARTNERSHIP REPORT DATE
- ----------- -----------
<S> <C>
National Housing Partnership Realty Fund I February 27, 1997
National Housing Partnership Realty Fund Two March 3, 1997
National Housing Partnership Realty Fund III March 6, 1997
Portfolio Properties Eight Associates March 14, 1997
Portfolio Properties Nine Associates February 27, 1997
Portfolio Properties Ten Associates February 26, 1997
</TABLE>
<PAGE>
Exhibit 23.5
Consent of Anders, Minkler, & Diehl LLP
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated February 3, 6, 9, 11, 14, 15 and 20,
1995 and our reports dated February 9, 13 and 20, 1996 with respect to the
audits of:
Pershing Waterman Phase I (DB I) Caroline Associates I
PW III Associates (DB II) Columbus Square Associates I
PW IV Associates (DB III) Columbus Square Associates II
PW V Associates (DB IV) Savoy Court Associates
PW VI Associates (DB V) Wigar, Ltd. (Winter Garden)
(i) for the years ended December 31, 1994 and 1995, included (for 1995)and
incorporated by reference (for 1994) in AIMCO's Current Report on Form 8-K,
dated June 3, 1997, as amended, and (ii) for the year ended December 31,
1994, incorporated by reference in AIMCO's Current Report on Form 8-K dated
April 16, 1997, as amended, all filed with the Securities and Exchange
Commission.
/s/ Anders, Minkler, & Diehl LLP
St. Louis, Missouri
December 5, 1997
<PAGE>
Exhibit 23.6
Dauby O'Connor & Zaleski
A Limited Liability Company
Certified Public Accountants
CONSENT OF INDEPENDENT AUDITORS
We consent to the reference to our firm under the caption "Experts" in
the Registration Statement on Form S-8 and any related Prospectus of
Apartment Investment and Management Company ("AIMCO") and to the
incorporation by reference therein of our reports as dated on Schedule I and
Schedule II, with respect to the financial statements of the partnerships as
disclosed in Schedule I and Schedule II (i) for the years ended December 31,
1994 and 1995, included (for 1995) and incorporated by reference (for 1994)
in AIMCO's Current Report on Form 8-K, dated June 3, 1997, as amended, and
(ii) for the year ended December 31, 1994, incorporated by reference in
AIMCO's Current Report on Form 8-K, dated April 16, 1997, as amended, all
filed with the Securities and Exchange Commission.
/S/ Dauby O'Connor & Zaleski, LLC
December 5, 1997 Dauby O'Connor & Zaleski, LLC
Indianapolis, Indiana Certified Public Accountants
<PAGE>
SCHEDULE I
AUDITS FOR THE YEAR ENDED DECEMBER 31, 1994
Report Date Partnership Name
January 7, 1995 Brookview Apartments Company Limited
March 13, 1995 Clover Ridge East Limited Partnership
January 7, 1995 Colony Apartments Company Limited
January 25, 1995 East Hampton Limited Partnership
January 25, 1995 Edgewood II Associates
January 20, 1995 Fairburn & Gordon Associates, Phase I
January 20, 1995 Fairburn & Gordon Associates, Phase II
January 30, 1995 Laing Village
January 25, 1995 Oakland City/West End Associates, Ltd.
January 30, 1995 Orangeburg Manor
February 6, 1995 except for Note 8
which is dated June 9, 1995 Parkways Associates
January 25, 1995 Pleasant Valley Apartments, Ltd.
January 25, 1995 Sandy Springs Associates, Ltd.
February 8, 1995 The Oak Park Partnership
February 6, 1995, except for Note 8
which is dated June 9, 1995 The Rogers Park Partnership
February 8, 1995 Tiffany Rehab Associates
January 20, 1995 Village Green Apartments Company Limited
January 25, 1995 Vineville Towers Associates, Ltd.
January 20, 1995 Westgate Apartments
<PAGE>
SCHEDULE II
AUDITS FOR THE YEAR ENDED DECEMBER 31, 1995
Report Date Partnership Name
January 19, 1996 Brookview Apartments Company Limited
February 22, 1996 Clover Ridge East Limited Partnership
January 19, 1996 Colony Apartments Company Limited
January 19, 1996 East Hampton Limited Partnership
January 19, 1996 Edgewood II Associates
January 19, 1996 Fairburn & Gordon Associates, Phase I
January 19, 1996 Fairburn & Gordon Associates, Phase II
January 19, 1996 Laing Village
January 19, 1996 Oakland City/West End Associates, Ltd.
January 19, 1996 Orangeburg Manor
January 19, 1996 Pleasant Valley Apartments, Ltd.
January 25, 1996 Sandy Springs Associates, Ltd.
February 22, 1996 Tiffany Rehab Associates
January 19, 1996 Village Green Apartments Company Limited
January 19, 1996 Vineville Towers Associates, Ltd.
January 19, 1996 Westgate Apartments
<PAGE>
Exhibit 23.7
Consent of Edwards Leap & Sauer
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated February 3, February 15, and March 15,
1995 with respect to the audits of IDA Tower, Genesee Gardens Associates, and
Buffalo Village Associates, respectively, for the year ended December 31,
1994, and to the incorporation by reference therein of our reports dated
February 14, February 20, and February 23, 1996, with respect to the audits
of IDA Tower, Genesee Gardens Associates, and Buffalo Village Associates,
respectively, for the year ended December 31, 1995, and to the incorporation
by reference therein of our reports dated February 6, February 8, and
February 10, 1997, with respect to the audits of IDA Tower, Genesee Gardens
Associates, and Buffalo Village Associates, respectively, for the year ended
December 31, 1996, (i) for the years ended December 31, 1994, 1995 and 1996,
included (for 1995 and 1996) and incorporated by reference (for 1994) in
AIMCO's Current Report on Form 8-K, dated June 3, 1997, as amended, and (ii)
for the year ended December 31, 1994, incorporated by reference in AIMCO's
Current Report on Form 8-K, dated April 16, 1997, as amended, all filed with
the Securities and Exchange Commission.
/s/ Edwards Leap & Sauer
Edwards Leap & Sauer
Hollidaysburg, Pennsylvania
December 5, 1997
<PAGE>
Exhibit 23.8
CONSENT OF INDEPENDENT AUDITORS
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement (Form S-8) and any related Prospectus of Apartment
Investment and Management Company (AIMCO) and to the incorporation by
reference therein of our reports dated March 22, 1996 and March 8, 1997 with
respect to the audits of Franklin Housing Associates and our reports dated
March 13, 1996 and February 26, 1997 with respect to the audits of Franklin
New York Avenue Associates for the years ended December 31, 1995 and 1996,
respectively, included in AIMCO's Current Report on Form 8-K, dated June 3,
1997, as amended, filed with the Securities and Exchange Commission.
/s/FISHBEIN & COMPANY, P.C.
---------------------------
FISHBEIN & COMPANY, P.C.
Elkins Park, Pennsylvania
December 5, 1997
<PAGE>
(LETTERHEAD OF FREEMAN & VESSILLO, C.P.A., P.C.)
NHP Incorporated
8065 Leesburg Pike
Suite 400
Vienna, VA 22182-2738
Re: Consent of Freeman & Vessillo C.P.A., P.C.
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated as indicated in the attached list with
respect to the audit of the corresponding partnerships as named in the
attached list for the year ended December 31, 1996, included in AIMCO's
Current Report on Form 8-K/A , dated June 3, 1997, as amended, filed with the
Securities and Exchange Commission.
FREEMAN & VESSILLO, C.P.A., P.C.
/s/ Freeman & Vessillo, C.P.A., P.C.
New York, NY
December 5, 1997
<PAGE>
FREEMAN & VESSILLO, C.P.A., P.C.
<TABLE>
<CAPTION>
PARTNERSHIP NAME REPORT DATE
- ---------------- -----------
<S> <C>
Chateau Gardens February 7, 1997
Club Apartment Associates February 5, 1997
Country Villa Associates, L.P. February 9, 1997
Countrybrook Associates February 1, 1997
Cross Creek Limited Partnership February 1, 1997
Grandland Realty Associates February 4, 1997
Kemar Townhouse Associates, L.P. February 3, 1997
Lakeland East Limited Partnership February 3, 1997
Marten Manor Realty Associates L.P. February 3, 1997
</TABLE>
<PAGE>
[LETTERHEAD]
Apartment Investment and Management Company
1873 Bellaire Street, 17th Floor
Denver, Colorado 80222-4348
Re: 62nd Street Limited Partnership
We consent to the reference to our firm under the caption "Experts" in this
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated February 9, 1997 with respect to the
audits of 62nd Street Limited Partnership for the years ended December 31,
1995 and 1996, included in AIMCO's Current Report on Form 8-K, dated June 3,
1997, as amended, filed with the Securities and Exchange Commission.
/s/ Friduss, Lukee, Schiff & Co., P.C.
FRIDUSS, LUKEE, SCHIFF & CO., P.C.
Certified Public Accountants
Chicago, Illinois
December 5, 1997
<PAGE>
[LETTERHEAD]
Apartment Investment and Management Company
1873 Bellaire Street, 17th Floor
Denver, Colorado 80222-4348
Re: Central Woodlawn Limited Partnership
We consent to the reference to our firm under the caption "Experts" in this
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated March 6, 1997 with respect to the
audits of Central Woodlawn Limited Partnership for the years ended December
31, 1995 and 1996, included in AIMCO's Current Report on Form 8-K, dated June
3, 1997, as amended, filed with the Securities and Exchange Commission.
/s/ Friduss, Lukee, Schiff & Co., P.C.
FRIDUSS, LUKEE, SCHIFF & CO., P.C.
Certified Public Accountants
Chicago, Illinois
December 5, 1997
<PAGE>
Exhibit 23.11
[LETTERHEAD]
CONSENT OF GEORGE A. HIERONYMUS AND COMPANY, L.L.C.
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated as shown in Exhibit A with respect to
the audits of those entities as shown in Exhibit A (i) for the years ended
December 31, 1994 and 1995 included (for 1995) and incorporated by reference
(for 1994) in AIMCO's Current Report on Form 8-K, dated June 3, 1997, as
amended, and (ii) for the year ended December 31, 1994, incorporated by
reference in AIMCO's Current Report on Form 8-K, dated April 16, 1997, as
amended, all filed with the Securities and Exchange Commission.
/s/ G. A. HIERONYMUS AND COMPANY, LLC
- ----------------------------------------
George A. Hieronymus and Company, L.L.C.
Mobile, Alabama
December 5, 1997
<PAGE>
E X H I B I T A
For the year ended December 31, 1994
REAL ESTATE PARTNERSHIP REPORT DATE
- ----------------------- -----------
Athens Arms Associates January 27, 1995
Colonial Terrace I Associates January 27, 1995
Colonial Terrace II Associates January 27, 1995
For the year ended December 31, 1995
REAL ESTATE PARTNERSHIP REPORT DATE
- ----------------------- -----------
Athens Arms Associates January 26, 1996
Colonial Terrace I Associates January 26, 1996
Colonial Terrace II Associates January 26, 1996
<PAGE>
EXHIBIT 23.12
CONSENT OF GOLDENBERG ROSENTHAL FRIEDLANDER, LLP
We consent to the reference to our firm under the caption "Experts" in
the Registration Statement on Form S-8 and any related Prospectus of
Apartment Investment and Management Company (AIMCO) and to the incorporation
by reference therein of our reports with respect to the audits of the
Partnerships listed below (i) for the years ended December 31, 1994, 1995 and
1996 included (for 1995 and 1996) and incorporated by reference (for 1994) in
AIMCO's Current Report on Form 8-K, dated June 3, 1997, as amended, and (ii)
for the year ended December 31, 1994, incorporated by reference on Form 8-K
dated April 16, 1997, as amended, all filed with the Securities and Exchange
Commission.
NAME OF PARTNERSHIP - 1994 DATE OF REPORT
- -------------------------- --------------
Baisley Park Associates (A Limited Partnership) February 3, 1995
Brunswick Village Limited Partnership January 23, 1995
Churchview Gardens Limited Partnership January 23, 1995
Harris Gardens Limited Partnership January 23, 1995
Hawksworth Limited Partnership January 21, 1995
Hollows Associates (A Limited Partnership) February 3, 1995
Kimberton Apartments Associates (A Limited Partnership) January 18, 1995
Washington Northgate Limited Partnership February 3, 1995
Washington Westgate Limited Partnership January 28, 1995
Windsor Apartments Associates (A Limited Partnership) January 18, 1995
NAME OF PARTNERSHIP - 1995 DATE OF REPORT
- -------------------------- --------------
Academy Gardens Associates (A Limited Partnership) March 7, 1996
Brunswick Village Limited Partnership January 25, 1996
Buckingham Hall Associates (A Limited Partnership) March 7, 1996
Churchview Gardens Associates (A Limited Partnership) February 15, 1996
Churchview Gardens Limited Partnership January 31, 1996
Harris Gardens Associates (A Limited Partnership) February 15, 1996
Harris Gardens Limited Partnership February 1, 1996
Hawksworth Gardens Associates (A Limited Partnership) February 15, 1996
Hawksworth Limited Partnership January 31, 1996
Washington Northgate Associates (A Limited Partnership) February 15, 1996
Washington Northgate Limited Partnership January 30, 1996
Washington Westgate Associates (A Limited Partnership) February 15, 1996
Washington Westgate Limited Partnership January 30, 1996
<PAGE>
NAME OF PARTNERSHIP - 1996 DATE OF REPORT
- -------------------------- --------------
Academy Gardens Associates (A Limited Partnership) January 24, 1997
Brunswick Village Limited Partnership January 29, 1997
Churchview Garden Associates (A Limited Partnership) January 5, 1997
Churchview Gardens Limited Partnership January 15, 1997
Buckingham Hall Associates (A Limited Partnership) January 24, 1997
/s/ Goldenberg Rosenthal Friedlander, LLP
Jenkintown, PA
December 5, 1997
<PAGE>
Exhibit 23.13
[LETTERHEAD]
CONSENT OF HANSEN, HUNTER & KIBBEE, P.C.
We consent to the reference of our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated, January 13, 1995, January 19, 1995,
January 13, 1995, January 19, 1995, January 13, 1995, January 19, 1995,
January 11, 1995, January 14, 1995, and January 13, 1995 with respect to the
audits of Franklin Chandler Associates, Haines Associates Limited
Partnership, King-Bell Associates, Monmouth Associates Limited Partnership,
Pendleton Riverside Apartments Oreg., Ltd., Penn Hall Associates, Rodeo Drive
Limited Partnership, South Mountain Terrace, Ltd., and Woodland Apartments,
Oreg., Ltd. for the year ended December 31, 1994, and to the incorporation by
reference therein of our reports dated January 24, 1996, January 19, 1996,
January 12, 1996, January 17, 1996, January 12, 1996, January 19, 1996,
January 12, 1996, January 10, 1996, and January 12, 1996 with respect to the
audits of Franklin Chandler Associates, Haines Associates Limited
Partnership, King-Bell Associates, Monmouth Associates Limited Partnership,
Pendleton Riverside Apartments Oreg., Ltd., Penn Hall Associates, Rodeo Drive
Limited Partnership, South Mountain Terrace, Ltd., and Woodland Apartments,
Oreg., Ltd. for the year ended December 31, 1995, and to the incorporation by
reference therein of our reports dated January 24, 1997, January 24, 1997,
January 16, 1997, January 24, 1997, January 17, 1997, January 24, 1997,
January 15, 1997, and January 22, 1997, with respect to the audits of
Franklin Chandler Associates, Haines Associates Limited Partnership,
King-Bell Associates, Monmouth Associates Limited Partnership, Pendleton
Riverside Apartments Oreg., Ltd., Penn Hall Associates, Rodeo Drive Limited
Partnership, and South Mountain Terrace, Ltd., for the year ended December
31, 1996 and our report dated November 8, 1996 with respect to the audit of
Woodland Apartments, Oreg., Ltd. for the eight months and nineteen days ended
September 19, 1996, included (for 1995 and 1996) and incorporated by
reference (for 1994) in AIMCO's Current Report on Form 8-K, dated June 3,
1997, as amended, and (ii) for the year ended December 31, 1994, incorporated
by reference in AIMCO's Current Report on Form 8-K, dated April 16, 1997, as
amended, all filed with the Securities and Exchange Commission.
/s/ Hansen, Hunter & Kibbee, P.C.
Portland, Oregon
December 5, 1997
<PAGE>
Exhibit 23.14
CONSENT OF J. H. COHN LLP
-------------------------
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated April 26, 1995 with respect to the
financial statements of Marlboro Greens Limited Partnership (i) for the year
ended December 31, 1994, which are incorporated by reference from AIMCO's
Current Reports on Form 8-K dated April 16, 1997 and June 3, 1997, each as
amended, previously filed with the Securities and Exchange Commission.
/s/ J. H. Cohn LLP
-----------------------------
J. H. COHN LLP
Roseland, New Jersey
December 5, 1997
<PAGE>
Exhibit 23.15
INDEPENDENT AUDITOR'S CONSENT
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports with respect to the audits of the
partnerships listed in Attachment A, Attachment B and Attachment C (i) for
the years ended December 31, 1994, 1995 and 1996, included (for 1995 and
1996) and incorporated by reference (for 1994) in AIMCO's Current Report on
Form 8-K, dated June 3, 1997, as amended, and (ii) for the year ended
December 31, 1994, incorporated by reference in AIMCO's Current Report on
Form 8-K, dated April 16, 1997, as amended, all filed with the Securities and
Exchange Commission.
/s/ J.A. Plumer & Co., P.A.
J. A. PLUMER & CO., P.A.
Bethesda, Maryland
December 5, 1997
<PAGE>
Attachment A
Audit Reports for the Year Ended December 31, 1994
DATE OF
PARTNERSHIP AUDITOR'S REPORT
- ------------------------------------------------- ---------------------
630 East Lincoln Avenue Associates January 24, 1995
Aspen Stratford Apartments Company B January 31, 1995
Aspen Stratford Apartments Company C February 1, 1995
Benjamin Banneker Plaza Associates January 31, 1995
Brightwood Limited Partnership January 10, 1995
Cambridge Heights Apartments, Ltd. February 15, 1995
Carter Associates Limited Partnership March 4, 1995
Cherry Estates January 18, 1995
Christopher Court Housing Company January 27, 1995
Concord Houses Associates March 7, 1995
Duke Manor Associates February 14, 1995
Elderly Housing Associates Ltd. Partnership January 25, 1995
Forest Apartments Associates February 16, 1995
Gate Manor Apartments, Ltd. January 30, 1995
Greenfield Apartments Limited Partnership January 27, 1995
Greenfield North Apartments Limited Partnership January 23, 1995
Haili Associates February 6, 1995
Houston Aristocrat Apartments, Ltd. January 24, 1995
Kapuna Associates February 6, 1995
Kinloch Urban East Housing February 10, 1995
Koolau Housing Associates February 6, 1995
Lakeview Arms Associates February 2, 1995
Lee-Hy Manor Associates Limited Partnership February 8, 1995
Locust Park Associates February 1, 1995
Loring Towers Associates March 3, 1995
Mahoning Associates January 31, 1995
Milliken Apartments Company February 1, 1995
Monument Street Limited Partnership February 8, 1995
Neighborhoods of the Universities Lock Street
Apartments Company February 3, 1995
Oak Hollow South Associates February 21, 1995
Orchard Mews Associates February 15, 1995
Oxford Place Associates February 8, 1995
Pittsfield Neighborhood Associates March 9, 1995
Prince Street Towers Limited Partnership February 6, 1995
Sencit-Lebanon Company January 20, 1995
St. Nicholas Associates February 20, 1995
Tamarac Pines, Ltd. February 18, 1995
Tamarac Pines II, Ltd. February 9, 1995
Taunton Green Associates March 1, 1995
Taunton II Associates February 24, 1995
Tompkins Terrace Associates February 23, 1995
Waipahu Associates February 6, 1995
Washington Chinatown Associates February 15, 1995
Woodcrest Apartments, Ltd. January 16, 1995
Worcester Episcopal Housing Company February 23, 1995
<PAGE>
Attachment B
Audit Reports for the Year Ended December 31, 1995
DATE OF
PARTNERSHIP AUDITOR'S REPORT
- ------------------------------------------------- ---------------------
630 East Lincoln Avenue Associates January 16, 1996
Aspen Stratford Apartments Company B February 2, 1996
Aspen Stratford Apartments Company C January 29, 1996
Baisley Park Associates March 29, 1996
Benjamin Banneker Plaza Associates January 24, 1996
Benton Square, Ltd February 18, 1996
Brightwood Limited Partnership January 16, 1996
Carter Associates Limited Partnership March 7, 1996
Cherry Estates February 8, 1996
Christopher Court Housing Company January 30, 1996
Concord Houses Associates March 7, 1996
Duke Manor Associates February 12, 1996
Echelon Towers, Ltd. December 18, 1995
Elderly Housing Associates Ltd. Partnership February 7, 1996
Ferncliff Limited Partnership March 12, 1996
Forest Apartments Associates February 7, 1996
Gate Manor Apartments, Ltd. January 23, 1996
Greenfield Limited Partnership March 11, 1996
Greenfield Apartments Limited Partnership January 22, 1996
Greenfield North Apartments Limited Partnership January 25, 1996
Greenfield North Limited Partnership March 9, 1996
Haili Associates February 6, 1996
Hollows Associates February 22, 1996
Houston Aristocrat Apartments, Ltd. January 25, 1996
Kapuna Associates February 6, 1996
Kimberton Apartments Associates February 22, 1996
Kinloch Urban East Housing September 13, 1995
Koolau Housing Associates February 6, 1996
Lakeview Arms Associates February 14, 1996
Lee-Hy Manor Associates Limited Partnership February 16, 1996
Locust Park Associates February 5, 1996
Loring Towers Associates March 15, 1996
Mahoning Associates February 5, 1996
Milliken Apartments Company January 18, 1996
Monument Street Limited Partnership February 1, 1996
Neighborhoods of the Universities Lock Street
Apartments Company January 26, 1996
Oak Hollow South Associates February 19, 1996
Oak Park Limited Partnership March 12, 1996
Orchard Mews Associates February 14, 1996
Oxford Place Associates February 13, 1996
Pittsfield Neighborhood Associates March 16, 1996
Portfolio Properties Fifteen Associates March 12, 1996
Portfolio Properties Four Associates March 11, 1996
Prince Street Towers Limited Partnership February 12, 1996
Registry Square, Ltd. February 16, 1996
Sencit-Atlantic City Company February 26, 1996
Sencit-Lebanon Company January 2, 1996
St. Nicholas Associates February 12, 1996
Tamarac Pines, Ltd. February 13, 1996
Tamarac Pines II, Ltd. February 13, 1996
Taunton Green Associates February 28, 1996
Taunton II Associates February 16, 1996
The National Housing Partnership-II March 14, 1996
Tompkins Terrace Associates February 19, 1996
Waipahu Associates February 6, 1996
Washington Chinatown Associates January 21, 1996
Windsor Apartments Associates February 16, 1996
Woodcrest Apartments, Ltd. January 19, 1996
Worcester Episcopal Housing Company February 15, 1996
<PAGE>
Attachment C
Audit Reports for the Year Ended December 31, 1996
DATE OF
PARTNERSHIP AUDITOR'S REPORT
- ------------------------------------------------- ---------------------
630 East Lincoln Avenue Associates January 24, 1997
Aspen Stratford Apartments Company B February 24, 1997
Aspen Stratford Apartments Company C February 6, 1997
Athens Arms Associates February 12, 1997
Benjamin Banneker Plaza Associates January 24, 1997
Benton Square, Ltd February 21, 1997
Brightwood Limited Partnership January 31, 1997
Carter Associates Limited Partnership February 12, 1997
Christopher Court Housing Company February 18. 1997
Colonial Terrace I Associates February 12, 1997
Colonial Terrace II Associates February 12, 1997
Concord Houses Associates March 1, 1997
Duke Manor Associates February 12, 1997
Elderly Housing Associates Ltd. Partnership January 24, 1997
Ferncliff Limited Partnership March 11, 1997
Forest Apartments Associates February 17, 1997
Gate Manor Apartments, Ltd. January 31, 1997
Greenfield Limited Partnership March 11, 1997
Greenfield Apartments Limited Partnership January 17, 1997
Greenfield North Apartments Limited Partnership January 27, 1997
Greenfield North Limited Partnership March 11, 1997
Haili Associates January 30, 1997
Hollows Associates February 19, 1997
Houston Aristocrat Apartments, Ltd. January 27, 1997
Kapuna Associates January 30, 1997
Kimberton Apartments Associates February 12, 1997
Koolau Housing Associates January 30, 1997
Lakeview Arms Associates February 24, 1997
Lee-Hy Manor Associates Limited Partnership February 16, 1997
Locust Park Associates February 22, 1997
Loring Towers Associates February 13, 1997
Milliken Apartments Company January 13, 1997
Monument Street Limited Partnership February 7, 1997
Neighborhoods of the Universities Lock Street
Apartments Company February 4, 1997
Oak Hollow South Associates February 14, 1997
Oak Park Limited Partnership March 12, 1997
Orchard Mews Associates January 14, 1997
Oxford Place Associates February 13, 1997
Pittsfield Neighborhood Associates March 7, 1997
Portfolio Four Associates March 11, 1997
Prince Street Towers Limited Partnership February 10, 1997
Registry Square, Ltd. February 21, 1997
Sencit-Lebanon Company January 30, 1997
St. Nicholas Associates January 29, 1997
Tamarac Pines, Ltd. February 20, 1997
Tamarac Pines II, Ltd. February 20, 1997
Taunton Green Associates February 15, 1997
Taunton II Associates February 3, 1997
The National Housing Partnership-II March 22, 1997
Tompkins Terrace Associates February 25, 1997
Waipahu Associates January 30, 1997
Washington Chinatown Associates January 23, 1997
Windsor Apartments Associates February 12, 1997
Woodcrest Apartments, Ltd. January 15, 1997
Worcester Episcopal Housing Company February 5, 1997
<PAGE>
Exhibit 23.16
CONSENT OF MARKS SHRON & COMPANY, L.L.P.
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated January 19, 1995 and January 25, 1996
with respect to the audits of Two Bridges Associates (i) for the years ended
December 31, 1994 and 1995 included (for 1995) and incorporated by reference
(for 1994) in AIMCO's Current Report on Form 8-K, dated June 3, 1997, as
amended, and (ii) for the year ended December 31, 1994, incorporated by
reference in AIMCO's Current Report on Form 8-K dated April 16, 1997, as
amended, all filed with the Securities and Exchange Commission.
/s/ Marks Shron & Company, L.L.P.
Marks Shron & Company, L.L.P.
Great Neck, New York
December 5, 1997
<PAGE>
Exhibit 23.17
[LETTERHEAD OF PRAGUE & COMPANY, P.C.]
CONSENT OF PRAGUE & COMPANY, P.C.
[FORMERLY KNOWN AS PRAGUE & RICHMOND, P.C.]
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated February 8, 1996 and January 16, 1997
with respect to the audits of Crosland Housing Associates, L.P. for the years
ended December 31, 1995 and 1996, included in AIMCO's Current Report on Form
8-K, dated June 3, 1997, as amended, filed with the Securities and Exchange
Commission.
Very truly yours,
/s/ PRAGUE & COMPANY, P.C.
- -------------------------------------------
PRAGUE & COMPANY, P.C.
[FORMERLY KNOWN AS PRAGUE & RICHMOND, P.C.]
CERTIFIED PUBLIC ACCOUNTANTS
WELLESLEY, MASSACHUSETTS
DECEMBER 5, 1997
<PAGE>
Exhibit 23.18
[LETTERHEAD]
CONSENT OF REZNICK FEDDER & SILVERMAN
-----------------------------
-----------------------------
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company (AIMCO) and to the incorporation by
reference therein of our reports dated as per the attached schedule, with
respect to the audits per the attached schedule for the years ended December
31, 1994, 1995, and 1996 included (for 1995 and 1996) and incorporated by
reference (for 1994) in AIMCO's Current Report on Form 8-K, dated June 3,
1997,as amended, and for the year ended December 31, 1994, incorporated by
reference in AIMCO's Current Report on Form 8-K, dated April 16, 1997, as
amended, all filed with the Securities and Exchange Commission.
REZNICK FEDDER & SILVERMAN
/s/ Reznick Fedder & Silverman
Bethesda, Maryland
December 5, 1997
<PAGE>
ATTACHMENT
SCHEDULE OF PARTNERSHIPS
PARTNERSHIP NAME DATED
- ---------------- -----
Beautiful Village Associates Redevelopment Company February 8, 1995
Branchwood Towers Limited Partnership February 7, 1995
Citrus Park Associates, Ltd. January 31, 1995
Community Circle II Limited January 26, 1995
Copperstone Limited Partnership January 19, 1995
Diakonia Associates Limited Partnership January 31, 1995
Easton Terrace I Associates January 24, 1995
Easton Terrace II Associates February 9, 1995
Eastridge Apartments January 13, 1995
Emory Grove Associates Limited Partnership February 6, 1995
First Alexandria Associates January 20, 1995
Flatbush NSA Associates January 30, 1995
Franklin Square School Associates January 12, 1995
Gates Mill I Limited Partnership February 1, 1995
Grosvenor House Associates Limited Partnership February 10, 1995
Harris Park Limited Partnership February 8, 1995
Hollybush Gardens I January 27, 1995
Hollybush Gardens II January 27, 1995
Intown West Associates Limited Partnership January 27, 1995
Lake Avenue Associates February 6, 1995
Lake Crossing Limited Partnership January 11, 1995
Lakehaven Associates One January 25, 1995
Lakehaven Associates Two January 20, 1995
Linden Court Associates January 30, 1995
Loudoun House Limited Partnership February 13, 1995
Monaco Arms Associates I January 30, 1995
Monaco Arms Associates II January 25, 1995
Muske Limited Partnership February 3, 1995
Natick Associates January 31, 1995
Oakcrest Terrace Apartments February 8, 1995
Oakwood Limited Partnership February 3, 1995
Parkview Associates January 20, 1995
Queenstown Apartments Limited Partnership February 9, 1995
Rancho Townhouse Associates February 3, 1995
Ruscombe Gardens Limited Partnership January 30, 1995
Sencit - Jacksonville Company LTD January 14, 1995
Sheffield Associates February 8, 1995
Snap IV Limited Partnership January 31, 1995
Tara Bridge Limited Partnership January 20, 1995
Twin Towers Associates February 10, 1995
Tyee Associates Limited Partnership January 13, 1995
Urbanization Maria Lopez Housing Company February 3, 1995
Westminster Associates January 31, 1995
Wollaston Manor Associates January 25, 1995
Woodside Village Limited Partnership January 13, 1995
<PAGE>
ATTACHMENT
SCHEDULE OF PARTNERSHIPS
PARTNERSHIP NAME DATED
- ---------------- -----
Beautiful Village Associates Redevelopment Company April 3, 1996
Branchwood Towers Limited Partnership January 24, 1996
Citrus Park Associates, Ltd. January 24, 1996
Community Circle II Limited January 25, 1996
Copperstone Limited Partnership January 31, 1996
Country Lakes Associates Two February 9, 1996
Diakonia Associates Limited Partnership August 15, 1995
Easton Terrace I Associates January 27, 1996
Eastridge Apartments January 17, 1996
Emory Grove Associates Limited Partnership February 12, 1996
First Alexandria Associates January 17, 1996
Flatbush NSA Associates January 17, 1996
Franklin Square School Associates January 22, 1996
Gates Mill I Limited Partnership January 30, 1996
Grosvenor House Associates Limited Partnership February 9, 1996
Hollybush Gardens I January 24, 1996
Hollybush Gardens II January 24, 1996
Hollywood Gardens January 22, 1996
Intown West Associates Limited Partnership February 8, 1996
Lake Avenue Associates February 9, 1996
Lake Crossing Limited Partnership January 24, 1996
Lakehaven Associates One January 24, 1996
Lakehaven Associates Two January 27, 1996
Linden Court Associates February 12, 1996
Loudoun House Limited Partnership January 31, 1996
Monaco Arms Associates I January 22, 1996
Monaco Arms Associates II January 22, 1996
Muske Limited Partnership February 20, 1996
Natick Associates January 23, 1996
Oakcrest Terrace Apartments February 16, 1996
Oakwood Limited Partnership February 22, 1996
Parkview Associates January 19, 1996
Queenstown Apartments Limited Partnership February 12, 1996
Rancho Townhouse Associates February 7, 1996
Ruscombe Gardens Limited Partnership January 24, 1996
Sencit - Jacksonville Company LTD January 17, 1996
Sencit F/G Metropolitan Associates February 21, 1996
Sheffield Associates February 7, 1996
Snap IV Limited Partnership February 21, 1996
Twin Towers Associates January 16, 1996
Tyee Associates Limited Partnership January 19, 1996
Urbanization Maria Lopez Housing Company January 27, 1996
Westminster Associates January 31, 1996
Wollaston Manor Associates January 17, 1996
Woodside Village Limited Partnership January 10, 1996
2nd Tier - Copperstone Circle Limited Partnership February 8, 1996
2nd Tier - Eastridge Limited Partnership February 8, 1996
2nd Tier - Emory Grove Associates February 22, 1996
2nd Tier - Oakwood-Muskegon Limited Partnership February 22, 1996
<PAGE>
ATTACHMENT
SCHEDULE OF PARTNERSHIPS
PARTNERSHIP NAME DATED
- ---------------- -----
Beautiful Village Associates Redevelopment Company January 29, 1997
Branchwood Towers Limited Partnership January 23, 1997
Brookview Apartments Company Limited January 30, 1997
Citrus Park Associates, Ltd. January 30, 1997
Clover Ridge East Limited Partnership January 21, 1997
Colony Apartments Company Limited January 20, 1997
Community Circle II Limited January 30, 1997
Copperstone Limited Partnership January 27, 1997
Country Lakes Associates Two February 6, 1997
Diakonia Associates Limited Partnership August 13, 1996
East Hampton Limited Partnership February 7, 1997
Easton Terrace I Associates January 15, 1997
Eastridge Apartments January 17, 1997
Edgewood II Associates January 23, 1997
Emory Grove Associates Limited Partnership February 7, 1997
Fairburn and Gordon Associates, Phase I January 23, 1997
Fairburn and Gordon Associates, Phase II January 23, 1997
First Alexandria Associates January 15, 1997
Flatbush NSA Associates January 24, 1997
Franklin Square School Associates January 23, 1997
Gates Mill I Limited Partnership January 23, 1997
Grosvenor House Associates Limited Partnership January 22, 1997
Hollywood Gardens January 28, 1997
Intown West Associates Limited Partnership February 1, 1997
Laing Village A Limited Partnership January 31, 1997
Lake Avenue Associates February 12, 1997
Lake Crossing Limited Partnership February 5, 1997
Lakehaven Associates One January 25, 1997
Lakehaven Associates Two January 30, 1997
Linden Court Associates February 6, 1997
Loudoun House Limited Partnership January 17, 1997
Monaco Arms Associates I January 28, 1997
Monaco Arms Associates II January 28, 1997
Muske Limited Partnership February 7, 1997
Natick Associates January 10, 1997
Oakcrest Terrace Apartments February 10, 1997
Oakland City/West End Associates, Ltd. January 31, 1997
Oakwood Limited Partnership February 8, 1997
Orangeburg Manor January 20, 1997
Parkview Associates January 29, 1997
Pleasant Valley Apartments, Ltd. January 17, 1997
Queenstown Apartments Limited Partnership February 7, 1997
Ruscombe Gardens Limited Partnership January 31, 1997
Sandy Springs Associates, Ltd. January 23, 1997
Sencit-Jacksonville Company LTD January 20, 1997
Sencit F/G Metropolitan Associates February 5, 1997
<PAGE>
Tiffany Rehab Associates January 17, 1997
Twin Towers Associates February 5, 1997
Tyee Associates Limited Partnership January 17, 1997
Urbanization Maria Lopez Housing Company January 22, 1997
Village Green Apartments Company Limited January 18, 1997
Vineville Towers Associates, Ltd. January 24, 1997
Westgate Apartments February 3, 1997
Westminster Associates January 24, 1997
Wollaston Manor Associates January 31, 1997
Woodside Village Limited Partnership January 16, 1997
2nd Tier-Copperston Circle Limited Partnership March 6, 1997
2nd Tier-Eastridge Limited Partnership March 3, 1997
2nd Tier-Emory Grove Associates March 4, 1997
2nd Tier-Oakwood-Muskegon Limited Partnership March 3, 1997
<PAGE>
Exhibit 23.19
[LETTERHEAD OF ROBERT ERCOLINI & COMPANY LLP]
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
----------------------------------------------------
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company (AIMCO) and to the incorporation by
reference therein of our reports dated, as listed in Appendix 1, with respect
to the audits of the Partnerships listed in Appendix 1 for the years ended
December 31, 1995 and 1996, included in AIMCO's Current Report on Form 8-K,
dated June 3, 1997, as amended, filed with the Securities and Exchange
Commission.
/s/ ROBERT ERCOLINI & COMPANY LLP
Boston, Massachusetts
December 5, 1997
<PAGE>
APPENDIX 1
----------
Year Ended December 31, 1995
- -----------------------------
Partnership Report Date
- ----------- ------------------
2900 Van Ness Associates March 1, 1996
7400 Roosevelt Investors February 20, 1996
Ivanhoe Associates Limited Partnership
and Monroeville Development Corporation February 23, 1996
Ridge Carlton Associates Limited Partnership
and Norco Associates February 27, 1996
Norco Associates February 27, 1996
Scotch Associates Limited Partnership and
Scotch Lane Associates February 27, 1996
Scotch Lane Associates February 27, 1996
Standart Woods Associates Limited Partnership February 17, 1996
Year Ended December 31, 1996
- ----------------------------
Partnership Report Date
- ----------- --------------------
2900 Van Ness Associates February 12, 1997
7400 Roosevelt Investors February 7, 1997
Fairfax Associates Limited Partnership March 3, 1997
Ivanhoe Associates Limited Partnership and
Monroeville Development Corporation February 3, 1997
(except as to Note 5,
which is as of
March 17, 1997)
Ridge Carlton Associates Limited Partnership
and Norco Associates January 28, 1997
Norco Associates January 28, 1997
River Loft Associates Limited Partnership
and River Loft Apartments Limited
Partnership February 4, 1997
River Loft Apartments Limited Partnership February 4, 1997
Scotch Associates Limited Partnership and
Scotch Lane Associates January 31, 1997
Scotch Lane Associates January 31, 1997
Standart Woods Associates Limited Partnership February 18, 1997
Wyntre Brooke Associates February 10, 1997
<PAGE>
[LETTERHEAD OF ROBERT ERCOLINI & COMPANY LLP]
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
---------------------------------------------------
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company (AIMCO) and to the incorporation by
reference therein of our reports (each of which expresses an unqualified
opinion and includes an explanatory paragraph relating to the Partnership's
ability to continue as a going concern) dated, as listed in Appendix 2, with
respect to the audits of the Partnerships listed in Appendix 2 for the years
ended December 31, 1995 and 1996, included in AIMCO's Current Report on Form
8-K, dated June 3, 1997, as amended, filed with the Securities and Exchange
Commission.
/s/ ROBERT ERCOLINI & COMPANY LLP
Boston, Massachusetts
December 5, 1997
<PAGE>
APPENDIX 2
----------
Year Ended December 31, 1995
- ----------------------------
Partnership Report Date
- ----------- -----------
Fairfax Associates Limited Partnership February 27, 1996
River Loft Associates Limited Partnership and February 25, 1996
River Loft Apartments Limited Partnership
River Loft Apartments Limited Partnership February 25, 1996
West Lake Arms Limited Partnership February 17, 1996
Wyntre Brooke Associates February 17, 1996
(except as to Note 11,
which is as of
February 22, 1996)
Year Ended December 31, 1996
- ----------------------------
Partnership Report Date
- ----------- -----------
West Lake Arms Limited Partnership February 28, 1997
Greater Hartford Associates Limited Partnership and February 22, 1997
Connecticut Colony Associates Limited Partnership
Connecticut Colony Associates Limited Partnership February 22, 1997
<PAGE>
[LETTERHEAD OF ROBERT ERCOLINI & COMPANY LLP]
CONSENT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
---------------------------------------------------
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company (AIMCO) and to the incorporation by
reference therein of our reports (each of which expresses an unqualified
opinion and includes an explanatory paragraph noting that the next
remarketing date for the Bonds which finance the Project is to occur on April
1, 1997 at which date a deferred fee of $925,000 is payable to the issuer of
the Letter of Credit that secures payments on the Bonds) dated, as listed in
Appendix 3, with respect to the audits of the Partnerships listed in Appendix
3 for the year ended December 31, 1995, included in AIMCO's Current Report on
Form 8-K, dated June 3, 1997, as amended, filed with the Securities and
Exchange Commission.
/s/ ROBERT ERCOLINI & COMPANY LLP
Boston, Massachusetts
December 5, 1997
<PAGE>
APPENDIX 3
----------
Year Ended December 31, 1995
- ----------------------------
Partnership Report Date
- ----------- -----------
Greater Hartford Associates Limited Partnership and February 27, 1996
Connecticut Colony Associates Limited Partnership (except as to Note 6,
which is as of April
12, 1996)
Connecticut Colony Associates Limited Partnership February 27, 1996
(except as to Note 6,
which is as of April
12, 1996)
<PAGE>
Exhibit 23.20
[LETTERHEAD]
CONSENT OF RUSSELL, THOMPSON, BUTLER & HOUSTON
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated as shown in Exhibits A, B and C with
respect to the audits of those entities as shown in Exhibits A, B and C (i)
for the years ended December 31, 1994, 1995, and 1996, included (for 1995 and
1996) and incorporated by reference (for 1994) in AIMCO's Current Report on
Form 8-K, dated June 3, 1997, as amended, and (ii) for the year ended
December 31, 1994, incorporated by reference in AIMCO's Current Report on
Form 8-K, dated April 16, 1997, as amended, all filed with the Securities and
Exchange Commission.
/s/ Russell, Thompson, Butler & Houston
Mobile, Alabama
December 5, 1997
<PAGE>
E X H I B I T A
REAL ESTATE PARTNERSHIP REPORT DATE
- ----------------------- -----------
Housing Assistance of Mt. Dora, Ltd. January 7, 1995
Housing Assistance of Orange City, Ltd. January 7, 1995
Housing Assistance of Sebring, Ltd. January 7, 1995
Housing Assistance of Vero Beach, Ltd. January 7, 1995
Lakeview Villas, Ltd. January 7, 1995
Orange City Villas II, Ltd. January 7, 1995
Woodside Villas of Arcadia, Ltd. January 7, 1995
Grove Park Villas, Ltd. January 7, 1995
Highlands Village II January 7, 1995
Eustis Apartments, Ltd. January 7, 1995
South Hiawassee Village, Ltd. January 7, 1995
Parkview Arms Associates I January 13, 1995
Parkview Arms Associates II January 13, 1995
Twin Gables Associates January 13, 1995
Miami Elderly Associates January 13, 1995
Crosland Housing Associates January 19, 1995
Parkview Apartments, Ltd. January 19, 1995
Chesterfield Housing Associates January 19, 1995
Hemingway Housing Associates January 19, 1995
McColl Housing Associates January 19, 1995
The Meadows Apartments January 19, 1995
St. George Villas January 19, 1995
Hurbell I Limited Partnership (Holly Oak) January 21, 1995
Hurbell IV Limited Partnership (Talladega Downs) January 21, 1995
Eastcourt Village Partners January 25, 1995
United Housing Partners Cuthbert, Ltd. January 27, 1995
United Housing Partners Elmwood, Ltd. January 27, 1995
United Housing Partners Morristown, Ltd. January 27, 1995
United Housing Partners Welch, Ltd. January 27, 1995
Townview Towers I Partnership, Ltd. January 27, 1995
VOA-Nicollet Towers Associates January 28, 1995
Community Developers of Princeville January 30, 1995
Registry Square, Ltd. February 23, 1995
<PAGE>
E X H I B I T B
REAL ESTATE PARTNERSHIP REPORT DATE
- ----------------------- -----------
United Housing Partners Cuthbert, Ltd. January 13, 1996
United Housing Partners Elmwood, Ltd. January 13, 1996
United Housing Partners Morristown, Ltd. January 13, 1996
United Housing Partners Welch, Ltd. January 13, 1996
Parkview Apartments, Ltd. January 18, 1996
Chesterfield Housing Associates January 18, 1996
Hemingway Housing Associates January 18, 1996
McColl Housing Associates January 18, 1996
The Meadows Apartments January 18, 1996
St. George Villas January 18, 1996
Parkview Arms Associates I January 18, 1996
Parkview Arms Associates II January 18, 1996
Twin Gables Associates January 18, 1996
Miami Elderly Associates January 18, 1996
Hurbell I Limited Partnership (Holly Oak) January 20, 1996
Hurbell IV Limited Partnership (Talladega Downs) January 20, 1996
Community Developers of Princeville January 22, 1996
Eastcourt Village Partners January 23, 1996
VOA-Nicollet Towers Associates January 26, 1996
Lake Wales Villas, Ltd. February 3, 1996
Peppertree Village of Avon Park, Ltd. February 3, 1996
Housing Assistance of Mt. Dora, Ltd. February 3, 1996
Housing Assistance of Orange City, Ltd. February 3, 1996
Housing Assistance of Sebring, Ltd. February 3, 1996
Housing Assistance of Vero Beach, Ltd. February 3, 1996
Lakeview Villas, Ltd. February 3, 1996
Orange City Villas II, Ltd. February 3, 1996
Woodside Villas of Arcadia, Ltd. February 3, 1996
Grove Park Villas, Ltd. February 3, 1996
Highlands Village II February 3, 1996
Eustis Apartments, Ltd. February 3, 1996
South Hiawassee Village, Ltd. February 3, 1996
<PAGE>
E X H I B I T C
REAL ESTATE PARTNERSHIP REPORT DATE
- ----------------------- -----------
United Housing Partners Cuthbert, Ltd. January 10, 1997
United Housing Partners Elmwood, Ltd. January 10, 1997
United Housing Partners Morristown, Ltd. January 10, 1997
United Housing Partners Welch, Ltd. January 10, 1997
Community Developers of Princeville January 13, 1997
Eastcourt Village Partners January 22, 1997
Parkview Apartments, Ltd. January 23, 1997
Chesterfield Housing Associates January 23, 1997
Hemingway Housing Associates January 23, 1997
McColl Housing Associates January 23, 1997
The Meadows Apartments January 23, 1997
St. George Villas January 23, 1997
Hurbell I Limited Partnership (Holly Oak) January 25, 1997
Hurbell IV Limited Partnership (Talladega Downs) January 25, 1997
Lake Wales Villas, Ltd. January 31, 1997
Peppertree Village of Avon Park, Ltd. January 31, 1997
Housing Assistance of Mt. Dora, Ltd. January 31, 1997
Housing Assistance of Orange City, Ltd. January 31, 1997
Housing Assistance of Sebring, Ltd. January 31, 1997
Housing Assistance of Vero Beach, Ltd. January 31, 1997
Lakeview Villas, Ltd. January 31, 1997
Orange City Villas II, Ltd. January 31, 1997
Woodside Villas of Arcadia, Ltd. January 31, 1997
Grove Park Villas, Ltd. January 31, 1997
Highlands Village II January 31, 1997
Eustis Apartments, Ltd. January 31, 1997
South Hiawassee Village, Ltd. January 31, 1997
<PAGE>
Exhibit 23.21
[LETTERHEAD]
CONSENT OF SCIARABBA WALKER & CO., LLP
We consent to the reference to our firm under the caption "Experts" in
the Registration Statement on Form S-8 and any related Prospectus of
Apartment Investment and Management Company ("AIMCO") and to the
incorporation by reference therein of our report dated February 6, 1997, with
respect to the audit of Abbot Associates for the years ended December 31,
1995 and 1996, included in AIMCO's Current Report on Form 8-K, dated June 3,
1997, as amended, filed with the Securities and Exchange Commission.
/s/Sciarabba Walker & Co., LLP
------------------------------
Sciarabba Walker & Co., LLP
Ithaca, New York
December 5, 1997
<PAGE>
Exhibit 23.22
CONSENT OF WALLACE SANDERS & COMPANY
------------------------------------
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated February 14, 1997 with respect to the
audits of the following entities for the period from January 2, 1996 (date of
formation) to December 31, 1996, included in AIMCO's Current Report on Form
8-K, dated June 3, 1997, as amended, filed with the Securities and Exchange
Commission:
NHP Chaparral Associates, L.P.
NHP Country Club Woods Associates, L.P.
NHP Country Club Woods, L.P.
NHP Greenbriar Associates, L.P.
NHP Greenbriar, L.P.
NHP Hessian Hills, L.P.
NHP High River, L.P.
NHP Spring Lake Manor Associates, L.P.
NHP Spring Lake Manor, L.P.
NHP Three Chopt West Associates, L.P.
NHP Town & Country/Country Place Associates, L.P.
NHP Town & Country/Country Place, L.P.
NHP Townhouse Associates, L.P.
NHP Townhouse, L.P.
NHP Twin Gates East, L.P.
NHP Will-O-Wisp Arms, L.P.
/s/ Wallace Sanders & Company
WALLACE SANDERS & COMPANY
Dallas, Texas
December 5, 1997
<PAGE>
EXHIBIT 23.23
[LETTERHEAD]
December 5, 1997
We consent to the reference to our firm under the caption "Experts" in this
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports with respect to the audits of the listed
partnerships, as included in the attached schedule, for the years ended
December 31, 1995 and 1996, included in AIMCO's Current Report on Form 8-K,
dated June 3, 1997, as amended, filed with the Securities and Exchange
Commission.
/S/Warady & Davis LLP
-----------------------
<PAGE>
SCHEDULE OF AUDIT REPORTS ISSUED
BY WARADY & DAVIS LLP FOR NHP
FOR THE YEARS ENDED DECEMBER 31, 1995 AND 1996
<TABLE>
<CAPTION>
Date of Year Ended Date of Year Ended
December 31, 1995 December 31, 1996
Name of Partnership Audit Report Audit Report
- ------------------- ------------------ ------------------
<S> <C> <C>
Church Street Associates January 30, 1996 February 4, 1997
New Vistas Apartments Associates January 22, 1996 January 24, 1997
New Vistas Apartments
Associates--Phase II January 19, 1996 February 3, 1997
North Washington Park Partnership January 26, 1996 January 21, 1997
Palmer Square Apartments Associates January 23, 1996 February 3, 1997
Parkways Associates January 16, 1996 January 28, 1997
Oak Park Partnership February 6, 1996 January 14, 1997
Rogers Park Partnership February 14, 1996 January 27, 1997
MRR L.P. January 20, 1997
Central Woodlawn Rehabiliatation
Joint Venture March 6, 1997
</TABLE>
<PAGE>
Exhibit 23.24
[GRAPHIC]
CONSENT OF ZINER & COMPANY, P.C.
We consent to the reference to our firm under the caption "Experts" in
the Registration Statement on Form S-8 and any related Prospectus of
Apartment Investment and Management Company ("AIMCO") and to the
incorporation by reference therein of our reports dated February 27, 1996 and
March 11, 1997 with respect to the audits of United Front Homes for the years
ended December 31, 1995 and 1996, included in AIMCO's Current Report on Form
8-K, dated June 3, 1997, as amended, filed with the Securities and Exchange
Commission.
/s/Ziner & Company, P.C.
-------------------------
Ziner & Company, P.C.
Boston, Massachusetts
December 5, 1997
<PAGE>
Exhibit 23.25
[LETTERHEAD]
CONSENT OF ZINNER & CO.
We consent to the reference to our firm under the caption "Experts" in the
Registration Statement on Form S-8 and any related Prospectus of Apartment
Investment and Management Company ("AIMCO") and to the incorporation by
reference therein of our reports dated January 16, 1996 and January 13, 1997
with respect to the audits of Vistula Heritage Village for the years ended
December 31, 1995 and 1996, included in AIMCO's Current Report on Form 8-K,
dated June 3, 1997, as amended, filed with the Securities and Exchange
Commission.
/s/ Zinner & Co.
- ------------------
Zinner & Co.
Pepper Pike, Ohio
December 5, 1997
<PAGE>
[LETTERHEAD]
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in this Registration Statement
on Form S-8 of Apartment Investment and Management Company ("AIMCO") of our
report dated October 20, 1997 with respect to the Combined Statement of
Revenues and Certain Expenses of the Thirty-five Acquisition Properties
(consisting of Brant Rock Village Apartments, Freedom Place Apartments,
Surrey Oaks Apartments, Sand Castles Apartments, Shadow Lake Apartments, Tall
Timbers Apartments, Woodhollow Apartments, Windsor Landing Apartments, Olmos
Club Apartments, Timbertree Apartments, Beacon Hill Apartments, Blossomtree
Apartments, Ferntree (Colonnade) Apartments, Foothills Apartments, Fox Bay
Apartments, Foxtree Apartments, Grovetree (The Arbors) Apartments, Hazeltree
Apartments, Hiddentree Apartments, Islandtree Apartments, Orchidtree
Apartments, Pine Creek Apartments, Polo Park Apartments, Quailtree
Apartments, Rivercrest Apartments, Sand pebble Apartments, Shadetree
Apartments, Silktree Apartments, Twinbridge Apartments, Village Park
Apartments, Wickertree Apartments, Wildflower Apartments, Wydewood
Apartments, Yorktree Apartments, and The Hills Apartments), for the year
ended December 31, 1996, appearing in the Current Report on Form 8-K dated
October 15, 1997 of AIMCO.
/s/ Deloitte & Touche LLP
- -----------------------------
DELOITTE & TOUCHE LLP
Boston, Massachusetts
December 5, 1997
