CHICAGO, Jan. 23 /PRNewswire/ -- AMLI Residential (NYSE: AML) today
announced that it has formed a partnership with BridgeStreet Worldwide, which
will become the exclusive provider of short-term furnished housing and related
services for the entire AMLI Residential portfolio. AMLI Corporate Homes, the
AMLI subsidiary that previously managed AMLI's short-term furnished housing
business, will be dissolved. AMLI apartment communities are located in
suburban and urban locations in nine major markets: Atlanta, Southeast
Florida, Chicago, Kansas City, Indianapolis, Dallas, Austin, Houston and
Denver.
"This partnership is a win/win for both AMLI and BridgeStreet," said Peggy
Butterworth, AMLI executive vice president. "It enables us to continue to
serve this market niche while leveraging the expertise and high service
standards of one of the world's leading corporate housing providers. The cross
promotion between the companies for both short- and long-term housing
referrals will be mutually beneficial."
"This exclusive partnership reflects an outstanding product, service and
brand match," said Lee Curtis, BridgeStreet president. "AMLI's communities
offer luxurious amenities, convenient locations and modern features that fit
the lifestyle needs of our clientele. Via this partnership, not only are we
able to offer our corporate clients a host of new property options, we are
also introducing our services to an entirely new customer base of individuals
with furnished housing needs. The AMLI partnership also enables us to expand
our services to two new markets for us -- Kansas City and Indianapolis."
The AMLI(R) portfolio currently includes 75 apartment communities
containing 28,274 apartment homes, with an additional 827 apartment homes
under development or in lease-up in three 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.
BridgeStreet Worldwide, a subsidiary of Interstate Hotels & Resorts
(NYSE: IHR), is one of the world's largest corporate housing and serviced
apartment providers. BridgeStreet and its network of Global Partners offer
corporate apartments located in over 90 MSAs throughout the United States and
internationally. BridgeStreet properties meet uncompromising standards of
quality, comfort and service. For more information about the company and to
learn more about how BridgeStreet is Making Corporate Housing Easy, visit
http://www.bridgestreet.com or call 1-800-BSTREET.
CONTACT: Peggy Butterworth, Executive V.P. of AMLI Residential,
+1-770-281-3370.
SOURCE BridgeStreet Worldwide
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Related links:
http://www.bridgestreet.com
http://www.amli.com
CONTACT:
Peggy Butterworth, Executive V.P. of AMLI
Residential, +1-770-281-3370
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