AML Amli Resident Prp Tr

AMLI Residential Announces Dallas Acquisition ATLANTA, May 11 /PRNewswire-FirstCall/ -- AMLI Residential Properties Trust (NYSE:AML) announces that it has purchased AMLI at Cityplace (formerly The Quarters at Cityplace) in Dallas, Texas. AMLI at Cityplace is a 244-unit mid-rise apartment community set on approximately 4.9 acres. The community was originally constructed in 2000 and contains a total of 248,572 rentable square feet with 150 (62%) one-bedroom and 76 (31%) two-bedroom apartment homes and 18 (7%) townhome style apartments. The average size of the apartment homes is 1,019 square feet. The community offers numerous amenities, including a resort-style swimming pool and heated spa, multi-level state-of-the-art fitness center, high-tech media room, cyber cafe, multi-level parking garage and remote access gates. "AMLI at Cityplace is a beautiful apartment community in a great infill location in the West Village and Uptown area of Dallas," commented Allan J. Sweet, AMLI President. "This acquisition supports AMLI's declared 'B to A' strategy to continually upgrade our portfolio by re-deploying the proceeds from the sales of older assets into newer ones." The AMLI(R) portfolio currently includes 75 apartment communities containing 28,164 apartment homes, with an additional 1,394 apartment homes under development or in lease-up in four locations. AMLI is focused on the development, acquisition and management of institutional quality multifamily communities in the Southeast, Southwest, Midwest and Mountain regions of the U.S. AMLI Residential also serves as institutional advisor and asset manager for large pension funds, tax-exempt foundations and other financial institutions through AMLI's co-investment business. AMLI employs approximately 850 people who are dedicated to achieving AMLI's mission -- Provide An Outstanding Living Environment For Our Residents. More information on AMLI is available at http://www.amli.com/ . DATASOURCE: AMLI Residential Properties Trust CONTACT: Allan J. Sweet, President, +1-312-984-2602, or Mark Alfieri, Senior Vice President, +1-972-265-6770, both of AMLI Residential Properties Trust Web site: http://www.amli.com/

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