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Considine Sees Recession As Half Over

DENVER-The chairman, CEO and founder of Apartment Investment and Management Co. says the economy will pull out of the current downturn next spring or next summer, and won't be as severe as the 1980s versions.

By John Rebchook | Updated on October 30, 2001

DENVER-Terry Considine, chairman, CEO and founder of Apartment Investment and Management Co., made a rare public appearance addressing about 150 business leaders attending the Apartment Association of Metro Denver’s Fall Economic Conference. GlobeSt.com exclusively covered the conference, called 20/20 Vision, a 20-year historical perspective and a 20-year forecast of the Denver apartment industry.

AIMCO, with a $3-billion market cap, is the nation’s second-largest publicly apartment REIT in the country. It’s about half the size of Chicago-based Equity Residential Property Trust headed by Sam Zell.

”We are in the middle of a recession,” Considine told the group.

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