The 152-unit community was built in 1989, making it much older than the rest of the REIT's youth-oriented portfolio, and acquired by AMLI in 1994. AMLI will use the proceeds to fund on-going acquisition and development activity.
The AMLI portfolio currently includes 69 stabilized apartment communities containing 26,506 apartment homes, with an additional 2,217 apartment homes under development or in lease-up in six locations. AMLI Residential is focused on the development, acquisition and management of institutional quality multifamily communities in the Southeast, Southwest, Mountain and Midwest regions of the US.
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