Ownership Submission
FORM 5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Form 3 Holdings Reported
Form 4 Transactions Reported
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
APARTMENT INVESTMENT & MANAGEMENT CO
 2. Issuer Name and Ticker or Trading Symbol
CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES [NONE] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)

4582 SOUTH ULSTER STREET PARKWAY, SUITE 1100		 3. Statement for Issuer's Fiscal Year Ended (Month/Day/Year)
12/31/2008
(Street)


DENVER, CO 80237		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Reporting
(check applicable line)

___ Form Filed by One Reporting Person
_X_ Form Filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned at end of Issuer's Fiscal Year
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Amount (A) or (D) Price
Series A Limited Partnership Units 02/25/2008   L 37 (1) A $ 19.54 152,619.55 (2) I See Footnote (6)
Series A Limited Partnership Units 03/26/2008   L 16.5 (1) A $ 5 152,636.05 (3) I See Footnote (6)
Series A Limited Partnership Units 04/18/2008   L 2 (1) A $ 5 152,638.05 (4) I See Footnote (6)
Series A Limited Partnership Units 06/11/2008   L 10 (1) A $ 4.25 152,648.05 (5) I See Footnote (6)
Series B Limited Partnership Units 06/11/2008   L 10 (7) A $ 0.51 152,648.05 (8) I See Footnote (9)
Series C Limited Partnership Units 06/11/2008   L 10 (7) A $ 0.24 152,648.05 (8) I See Footnote (9)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned at End of Issuer's Fiscal Year
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
(A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
APARTMENT INVESTMENT & MANAGEMENT CO
4582 SOUTH ULSTER STREET PARKWAY
SUITE 1100
DENVER, CO 80237		     X    
AIMCO PROPERTIES LP
4582 SOUTH ULSTER STREET PARKWAY
SUITE 1100
DENVER, CO 80237		     X    

Signatures

/s/ Derek S. McCandless, Senior Vice President and Assistant Secretary, Apartment Investment and Management Company 02/13/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These Limited Partnership Units ("Units") were directly purchased by AIMCO Properties, L.P. ("AIMCO Properties").
(2) The Amount of Securities Beneficially Owned is 152,619.55 consisting of 61,849.05 Units held by AIMCO Properties; 50,572.40 Units held by AIMCO IPLP, L.P. ("IPLP"); 11,365.60 Units held by Cooper River Properties, L.L.C. ("Cooper"); and 28,832.50 Units held by Reedy River Properties, L.L.C. ("Reedy").
(3) The Amount of Securities Beneficially Owned is 152,636.05 consisting of 61,865.55 Units held by AIMCO Properties; 50,572.40 Units held by IPLP; 11,365.60 Units held by Cooper; and 28,832.50 Units held by Reedy.
(4) The Amount of Securities Beneficially Owned is 152,638.05 consisting of 61,867.55 Units held by AIMCO Properties; 50,572.40 Units held by IPLP; 11,365.60 Units held by Cooper; and 28,832.50 Units held by Reedy.
(5) The Amount of Securities Beneficially Owned is 152,648.05 consisting of 61,877.55 Units held by AIMCO Properties; 50,572.40 Units held by IPLP; 11,365.60 Units held by Cooper; and 28,832.50 Units held by Reedy.
(6) AIMCO Properties is a joint filer with AIMCO-GP, Inc. ("AIMCO-GP") and Apartment Investment and Management Company ("AIMCO") for purposes of Section 13(d) reporting of the Exchange Act. AIMCO-GP is the sole general partner of AIMCO Properties and a wholly-owned subsidiary of AIMCO. IPLP is a joint filer with AIMCO/IPT, Inc. ("AIMCO/IPT") and AIMCO for purposes of Section 13(d) reporting of the Exchange Act. AIMCO/IPT is the sole general partner of IPLP and a wholly-owned subsidiary of AIMCO. Cooper is a joint filer with AIMCO, AIMCO/IPT, and IPLP for purposes of Section 13(d) reporting of the Exchange Act. Reedy is a joint filer with AIMCO, AIMCO/IPT, and IPLP for purposes of Section 13(d) reporting of the Exchange Act. Both Cooper and Reedy are wholly-owned subsidiaries of IPLP, whose sole general partner is AIMCO/IPT, a wholly-owned subsidiary of AIMCO.
(7) These Units were directly purchased by AIMCO/Bethesda Holdings, Inc. ("AIMCO/Bethesda").
(8) This amount consists of Units owned directly by AIMCO/Bethesda.
(9) AIMCO/Bethesda is a joint filer with Apartment Investment and Management Company ("AIMCO") for purposes of Section 13(d) of the Exchange Act. The controlling shareholder of AIMCO/Bethesda is AIMCO Properties, L.P. ("AIMCO Properties"), a subsidiary of AIMCO. The sole general partner of AIMCO Properties is AIMCO-GP, Inc., a wholly-owned subsidiary of AIMCO.

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