The Austin properties are Arboretum at 9417 Great Hills Trailand Martha's Vineyard at 7920 San Felipe Blvd. In Houston, AMLI isthe new owner of the 318-unit Western Ridge, which is being renamedto AMLI at Western Ridge. It is located along Rogerdale Road in theWestchase area.

The 231-unit Arboretum is a 17-year-old complex that had beenacquired by AMLI in 1986. Martha's Vineyard, with 360 units, hadbeen built in 1986 and taken over by AMLI in 1992. The company didnot disclose the names of the buyers.

The transactions take AMLI to four sales this year. AMLIPresident Allan Sweet says that selling in Austin's strong marketallows the company to exchange the current yield from olderproperties into two new properties, without diluting earnings. AMLIisn't disclosing the location of its next buy. The currentportfolio consists of 66 apartment communities, with an additionaleight under development or in lease-up.