UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
AFFORDABLE RESIDENTIAL COMMUNITIES, INC.
-----------------------------------------
(Name of Issuer)
Common
------
(Title of Class of Securities)
008273104
---------
(CUSIP Number)
Date of Event which Requires Filing of this Statement
September 30, 2005
------------------
Check the appropriate box to designate the rule pursuant to which the Schedule
is filed:
[x] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in prior coverage.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the Notes).
SEC 1745 (12-02)
Page 1
AMENDMENT 1 TO SCHEDULE 13G
CUSIP No. 008273104 Page 2 of 6 Pages
-------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Cohen & Steers, Inc. 14-1904657
-------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
NUMBER 5) SOLE VOTING POWER
OF 898,097
SHARES _____________________________________________________________
BENEFICIALLY 6) SHARED VOTING POWER
OWNED BY 0
EACH _____________________________________________________________
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON 1,032,697
WITH _____________________________________________________________
8) SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,032,697
-------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
-------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.52%
-------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON
HC
-------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2
AMENDMENT 1 TO SCHEDULE 13G
CUSIP No. 008273104 Page 3 of 6 Pages
-------------------------------------------------------------------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Cohen & Steers Capital Management, Inc. 13-3353336
-------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [x]
-------------------------------------------------------------------------------
3) SEC USE ONLY
-------------------------------------------------------------------------------
4) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
-------------------------------------------------------------------------------
NUMBER 5) SOLE VOTING POWER
OF 898,097
SHARES _____________________________________________________________
BENEFICIALLY 6) SHARED VOTING POWER
OWNED BY 0
EACH _____________________________________________________________
REPORTING 7) SOLE DISPOSITIVE POWER
PERSON 1,032,697
WITH _____________________________________________________________
8) SHARED DISPOSITIVE POWER
0
-------------------------------------------------------------------------------
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,032,697
-------------------------------------------------------------------------------
10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES [ ]
-------------------------------------------------------------------------------
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.52%
-------------------------------------------------------------------------------
12) TYPE OF REPORTING PERSON
IA
-------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3
AMENDMENT 1 TO SCHEDULE 13G Page 4 of 6
Item 1 (a) Name of Issuer
AFFORDABLE RESIDENTIAL COMMUNITIES, INC.
Item 1 (b) Address of Issuer's Principal Executive Office
600 GRANT STREET
SUITE 900
DENVER, CO 80203
Item 2 (a) Name of Person(s) Filing
Cohen & Steers, Inc.
Cohen & Steers Capital Management, Inc.
(b) Address of Principal Business Office
The principal address of both entities is:
757 Third Avenue
New York, New York 10017
(c) Citizenship or Place of Orgainization
Cohen & Steers, Inc: Delaware
Cohen & Steers Capital Management, Inc: New York
Item 2 (d) Title of Class of Securities
COMMON
(e) CUSIP Number
008273104
Item 3. If this statement is filed pursuant to Rule 13d-l(b), or
13d-2(b), check whether the person filing is a
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in section 3(a)(19) of
the Act
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act
(e) [ ] An investment advisor in accordance with Section
240.13d-1(b)(1)(ii)(E)
(f) [ ] An employee benefit plan or endowment fund in accordance
with 240.13d-1(b)(1)(ii)(F)
(g) [x] A parent holding company or control person in accordance
with Section 240.13d-l(b)(1)(ii)(G)
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813)
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15U.S.C. 80a-3)
(j) [ ] Group, in accordance with Section 240.13d-1(b)(l)(ii)(J)
Page 5 of 6
Item 4 OWNERSHIP
(a) Amount of Shares Beneficially Owned
See row 9 on cover sheet
(b) Percent of Class
See row 11 on cover sheet
(c) Number of Shares as to which such person has:
(i) sole power to vote or to direct the vote
See row 5 on cover sheet
(ii) shared power to vote or to direct the vote
See row 6 on cover sheet
(iii) sole power to dispose or to direct the disposition of
See row 7 on cover sheet
(iv) shared power to dispose or to direct the disposition
See row 8 on cover sheet
Item 5 Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following. [X]
Item 6 Ownership of More than Five Percent on Behalf of Another Person
NA
Item 7 Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
Cohen & Steers Capital Management, Inc., an investment advisor registered under
Section 203 of the Investment Advisers Act, is a wholly-owned subsidiary of the
parent company.
Item 8 Identification and Classification of Members of the Group
NA
Item 9 Notice of Dissolution of the Group
NA
Item 10 Certification
By signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired and are held in the ordinary course
of business and were not acquired and are not held for the purpose of or with
the effect of changing or influencing the control of the issuer of the
securities and were not acquired in connection with or as a participant in any
transaction having that purpose or effect.
Signature
---------
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
October 10, 2005
/s/Robert Steers
----------------------------------
Signature
Robert H. Steers, Co-Chairman and Co Chief Executive Officer
Cohen & Steers, Inc. and Cohen & Steers Capital Management, Inc.
------------------------------------------------------------
Name and Title
Page 6 of 6
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act
of 1934, as amended, the undersigned hereby agree to the joint filing with all
other Reporting Persons (as such term is defined in the Schedule 13G referred to
below) on behalf of each of them of a Statement on Schedule 13G including
amendments thereto) with respect to the common shares of Affordable Residential
Communities., and that this Agreement may be included as an Exhibit to such
joint filing. This Agreement may be executed in any number of counterparts, all
of which together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement as of
October 10, 2005.
COHEN & STEERS, INC.
/s/Robert Steers
By:-----------------------------------------
Name: Robert H. Steers
Title: Co-Chariman and Co-Chief
Executive Officer
COHEN & STEERS CAPITAL MANAGEMENT, INC.
/s/Robert Steers
By:----------------------------------------
Name: Robert H. Steers
Title: Co-Chairman and Co-Chief
Executive Officer