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Exhibit (a)(1)
CONSOLIDATED CAPITAL PROPERTIES V
55 Beattie Place, P.O. Box 2347
Greenville, South Carolina 29602
July 1, 1999
Dear Limited Partner:
We understand that you have received from Peachtree Partners an offer
to purchase up to 4.9% of the outstanding limited partnership units at $28 per
unit of Consolidated Capital Properties V (the "Partnership").
The Partnership, through its general partner, ConCap Equities, Inc.
(the "General Partner"), is required by the rules of the Securities and Exchange
Commission to make a recommendation whether you should accept or reject such
offer, or whether the Partnership is remaining neutral with respect to such
offer. The General Partner is not making any recommendation with respect to such
offer for the reason set forth under "The Offer - Section 10. Position of Your
General Partner of Your Partnership with Respect to the Offer" in the enclosed
Supplement, dated July 1, 1999, to the Offer to Purchase, dated June 2, 1999, of
AIMCO Properties, L.P. However, it should be noted that such offer is at a lower
price and for less units than the offer being made by AIMCO Properties, L.P.,
which is for 55,455.45 units at $30 per unit.
Please note that the General Partner is an affiliate of AIMCO
Properties, L.P.
If you have any questions or would like further information about other
possible opportunities to sell your units, please contract River Oaks
Partnership Services, Inc. at (888) 349-2005.
CONCAP EQUITIES, INC.
General Partner
By: /s/ Patrick J. Foye
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Patrick J. Foye
Executive Vice President
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