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Filed Pursuant to Rule 424(b)(3)
Registration Statement No. 333-60355
Prospectus Supplement To
Prospectus Supplement dated March 31, 1999
To Prospectus dated March 26, 1999
PROSPECTUS SUPPLEMENT
(TO PROSPECTUS SUPPLEMENT DATED MARCH 31, 1999
TO PROSPECTUS DATED MARCH 26, 1999)
AIMCO PROPERTIES, L.P.
Increase in Offer Consideration
relating to
the offer to acquire units of limited partnership interest in
SALEM ARMS OF AUGUSTA LIMITED PARTNERSHIP
in exchange for your choice of:
5 of our 8.0% Class Two Partnership Preferred Units;
3.50 of our Partnership Common Units; or
$125 in Cash
(Equivalent to $12,500 in Cash per 1% Limited Partnership Interest)
Pursuant to a Prospectus, dated March 26, 1999, and a Prospectus
Supplement, dated March 31, 1999, we have offered to acquire units of limited
partnership interest in your partnership. We have now decided to increase our
cash offer price per unit to $125 (equivalent to $12,500 in cash per 1% limited
partnership interest). We have also increased the number of our Partnership
Common Units and Class Two Partnership Preferred Units that we are offering for
each of your units, as set forth above. The number of Partnership Common Units
was determined by dividing the increased cash offer price by $37.63 (the average
closing price of the Class A Common Stock of Apartment Investment and Management
Company on the New York Stock Exchange for the 30 trading days ended March 23,
1999). The number of Class Two Partnership Preferred Units was determined by
dividing the increased cash offer price by the $25 liquidation preference of the
Class Two Partnership Preferred Units.
June 3, 1999
