Associated Estates Realty Corporation Completes Sale to Exit Congregate Care Business

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Associated Estates Realty Corporation Completes Sale to Exit Congregate Care Business

    CLEVELAND, Feb. 22 /PRNewswire-FirstCall/ -- Associated Estates Realty
Corporation (NYSE: AEC) announced today the sale of a 120-unit, non-core
Midwest apartment property, located in Mayfield Heights, Ohio.
    "The disposition of this asset is in line with the Company's plan to
exit the congregate care business," said Jeffrey I. Friedman, president and
CEO.
    Associated Estates Realty Corporation is a real estate investment trust
("REIT"), headquartered in Richmond Heights, Ohio, a suburb of Cleveland.
The Company directly or indirectly owns, manages or is a joint venture
partner in 100 multifamily properties containing a total of 20,758 units
located in nine states. For more information about the Company, please
visit its website at: http://www.aecrealty.com.
     For more information, please contact:
     Kimberly Kanary
     Manager of Corporate Communications
     216-797-8752
     kkanary@aecrealty.com

SOURCE Associated Estates Realty Corporation

http://www.aecrealty.com/
CONTACT:
Kimberly Kanary, Manager of Corporate
Communications of Associated Estates Realty Corporation,
+1-216-797-8752, kkanary@aecrealty.com