728878 businesses (with a portfolio of in excess of $12 billion) in three transactions between 1999 and 2003 — its apartment portfolio was sold to AIMCO (NYSE: AIV) in 1999; and in 2003 Insignia sold its New York City residential brokerage and management business (Douglas Elliman) to Prudential and

with CBRE 1990: Insignia is founded 2003: Insignia sells Doug as Elliman to Prudential 1998: Insignia sells its multifamily businesses to AIMCO January 1990 — July 2003 1993: Insignia structures the first rated non-cross collateralized non- cross defaulted multifamily securitization I