Preview | Purchase Agreement |

Document Preview

Purchase Agreement

Click "Add to Cart" button to purchase document.
Documents are emailed immediately after purchase.
You can also browse documents by title, category, or company... or click here for help finding documents.

Title:

Purchase Agreement

Entities:

Apartment Investment & Management Co.

Date:

2002

Size:

Preview shows 2KB of 8KB total

Price:

$40

ID:

#265465

► Purchase & Sale ► Purchase Agreements
► Real Estate ► Real Estate Investment Trusts

Start of Preview



                               PURCHASE AGREEMENT



         This Purchase Agreement (this "Agreement"), dated as of March 21, 2002,

is by and among Cohen & Steers Quality Income Realty Fund, Inc. and Cohen &

Steers Equity Income Fund, Inc. (each a "PURCHASER" and collectively the

"PURCHASERS") and Apartment Investment and Management Company (the "SELLER").



         WHEREAS, the PURCHASERS desire to purchase from SELLER, and SELLER

desires to issue and sell to the PURCHASERS, one million shares of SELLER's

Class R Cumulative Preferred Stock, par value $.01 per share (the "Shares").



         NOW, THEREFORE, in consideration of the mutual promises herein

contained, the parties hereto agree as follows:



         1. Purchase and Sale. Subject to the terms and conditions hereof, the

PURCHASERS hereby agree to purchase from SELLER, and SELLER agrees to issue and

sell to the PURCHASERS, in the individual amounts set forth below, one million

Shares at a price per share of $25.77 for an aggregate purchase amount of

$25,770,000 (the "Purchase Price"):



         Cohen & Steers Quality Income Realty Fund, Inc.: 950,000 Shares

           $(24,481,500)



         Cohen & Steers Equity Income Fund, Inc.: 50,000 Shares $(1,288,500)



         2. Representations and Warranties of PURCHASERS. Each PURCHASER

represents and warrants that:



                  (a) Due Authorization. Such PURCHASER is duly authorized to

         purchase the Shares. This Agreement has been duly authorized, executed

         and delivered by such PURCHASER and constitutes a legal, valid and

         binding agreement of such PURCHASER, enforceable against such PURCHASER

         in accordance with its terms except as may be limited by (i) the effect

         of bankruptcy, insolvency, reorganization, moratorium or other similar

         laws relating to or affecting the rights or remedies of creditors or

         (ii) the effect of general principles of equity, whether enforcement is

         considered in a proceeding in equity or at law and the discretion of

End of Preview

Home Intelligence Services Subscriptions News About Us