AMLI rose to the forefront as the logical buyer for the Gates of7th Street Station at 2601 W. 7th St. after it acquired 194 class Aunits practically right up the street in May. That's all the buyingfor now in Fort Worth, Mark Alfieri, AMLI's senior vice presidentin Texas, tells "Everything that is available or couldhave been available has been sold down there," he says.

The seller of record is the 7th Street Station LP, an investmentgroup comprised of GE Capital and Westdale Asset Management ofDallas. Kevin Jennings, Westdale's acquisitions director, confidesthat he approached AMLI right after it bought the Reserve UpperWest Side from Trammell Crow Residential in Atlanta. "They boughtright down the street so I figured they'd be interested in what wehad," he says.

Jennings was right on the mark, with AMLI saying yes to the92%-occupied property. AMLI agreed to a "fair price" and the sellerwalked away with a tidy profit on an asset bought in February.

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