Exhibit (a)(6)
May 4, 2007
TO: UNIT HOLDERS OF CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES 2
SUBJECT: EXTENDED AND INCREASED OFFER TO PURCHASE UNITS
Dear Unit Holder:
We are amending the Offer to Purchase and related Letters of Transmittal sent to
you on March 26, 2007, (the "Offer"), which was made by the Purchasers
identified in the Offer. The Purchasers are offering to purchase up to 181,811
Units of limited partnership interest (the "Units") in CONSOLIDATED CAPITAL
INSTITUTIONAL PROPERTIES 2 (the "Partnership") at the increased Offer Price of:
$9.75 per Unit
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The Offer will provide you with an opportunity to liquidate all, or a portion
of, your investment without the usual transaction costs associated with market
sales or partnership transfer fees. Reasons you may wish to sell your Units
include:
o HIGHEST OFFER PRICE YET. This offer is 5% HIGHER than what an
affiliate of the General Partner is currently offering, as amended.
Withdraw your Units from AIMCO and tender them to us!
o NO DISTRIBUTIONS! The Partnership has paid no distributions since
2001! The Partnership has stated that "there can be no assurance that
the Partnership will generate sufficient funds from operations, after
planned capital expenditures, to permit any distributions to its
partners in 2007 or subsequent periods." (emphasis added)
o UNCERTAINTY OF PARTNERSHIP TERMINATION. Our offer provides you with
the opportunity to receive liquidity. The general partner has given no
indication when the partnership will be liquidating. The Partnership
term extends through 2013! Therefore, investors may not see liquidity
for some time.
o NO FUTURE IRS FILING REQUIREMENTS. The tax year in which you sell your
Units will be the final year for which you will be obligated to file a
K-1 for the Partnership with your tax return. This may represent a
reduction in costs associated with filing complicated tax returns.
Your decision to sell may have other favorable or unfavorable tax
consequences and potential sellers should consult their individual tax
advisers.
The Purchasers are extending the Expiration Date to May 29, 2007. You can view
the amended Offer materials at www.mpfi.com (Click on MPF Tenders). If you
already completed and sent a Letter of Transmittal to the Depositary, you need
not send another, you will automatically receive the higher price.
After carefully reading the enclosed Offer, if you elect to tender your Units,
mail (using the enclosed pre-addressed, postage paid envelope) or fax (then
mail) a duly completed and executed copy of the Letter of Transmittal (printed
on pink paper) and change of address forms, and any other documents required by
the Letter of Transmittal, to the Depositary for the Offer at:
MacKenzie Patterson Fuller, LP
1640 School Street
Moraga, California 94556 Facsimile: (925) 631-9119
We've enclosed a Notice of Withdrawal that you can fax or deliver to the agent
for AIMCO Properties, LP if you already tendered your Units to AIMCO and you
wish to receive more money! The AIMCO Offer expires on May 30, 2007 (unless
further extended), so its depository, The Altman Group, must receive your Notice
of Withdrawal by midnight Eastern Time on that date for you to withdraw from
that offer. You must also deliver to us an executed copy of our Letter of
Transmittal to accept our Offer. If you have any questions or need assistance,
please call the Depositary at 800-854-8357.