"We knew the seller was going to put it on the market and westepped in right before they were going to pick a broker and theyaccepted our offer," Mark Alfieri, AMLI's senior vice president,tells GlobeSt.com about 770 and 777 Fairway Drive in Coppell. "Itwas a well located, class A suburban asset in a stable submarket atan attractive price per pound." Renamed to AMLI on the Fairways,the deal closed in a 45-day start to finish.

The 16.4-acre development was 92% leased at sale time. The 26two-story buildings are divvied into 182 one-bedroom designs, 116two-bedroom units and 24 three-bedroom apartments. The rentalrates, which will hold firm for awhile, range from $725 to $1,510per month, according to Alfieri. Units average 900 sf.

AMLI on the Fairways neighbors the Riverchase Golf Course andpositioned a mile from AMLI's Valley Ranch property. Thedevelopment, bisected by Fairway Drive, is assessed at $22.6million by the Dallas Central Appraisal District. Given theoccupancy, location and caliber, it's a safe bet that the closingprice brought $70,000 per door or slightly more for seller anddeveloper, Republic Property Group of Dallas.