CHICAGO, June 6 /PRNewswire/ -- AMLI Residential (NYSE: AML) announces
today their second strategic joint venture relationship with BPMT (Stichting
Bedrijfspensioenfonds voor de Metaal en Technische Bedrijfstakken), one of
Europe's leading pension funds, to acquire approximately $260 million of
institutional quality multifamily apartment communities in AMLI's markets.
AMLI and BPMT formed their first joint venture relationship last August to
acquire $165 million of upscale apartment communities.  The first fund is
fully invested, taking into account properties now under contract but not yet
closed.
    The joint venture will be capitalized with approximately $40 million of
equity each from AMLI and BPMT, with an existing institutional partner of
AMLI's contributing an additional amount of approximately $8 million.  The
properties will be acquired using approximately $170 million of fixed-rate
long-term mortgage financing.  AMLI owns interests in approximately $2 billion
of real estate, with approximately $1 billion of assets owned in 35 joint
ventures with 13 institutional partners.
    "We are pleased to be expanding our relationship and appreciate BPMT's
vote of confidence in AMLI," stated Allan J. Sweet, AMLI President.  "Creating
long-term relationships, built upon trust between partners, is a key part of
our co-investment strategy.  This second joint venture with BPMT illustrates
that our co-investment business is working for all of the parties involved,
including our shareholders."
    BPMT represents 37,000 companies and over 330,000 workers in the metal,
automotive and associated sectors in the Netherlands.  On a worldwide scale,
BPMT is one of the major European institutional investors with current assets
of approximately $17 billion and real estate holdings across the globe.  Its
U.S. real estate portfolio totals over $850 million, being invested both
directly and indirectly.  "In our first joint venture AMLI delivered exactly
what they had promised," stated Erwin Stouthamer, head of International Real
Estate for BPMT.  "We are very excited to extend an outstanding relationship
with AMLI in order to fulfill our goals, that is, to build up our exposure to
the multifamily sector in the United States."
    Bradley A. Olsen of Atlantic Partners, Ltd. initiated this transaction, as
well as the first joint venture, and advised BPMT in connection with it.
Atlantic Partners, based in Cary, North Carolina, provides real estate
advisory services to European investors and assists U.S. property owners in
accessing capital internationally.
    The AMLI(R) portfolio currently includes 57 apartment communities
containing 22,245 apartment homes, with an additional 4,134 apartment homes
under development or in lease-up in 14 locations.  AMLI Residential is focused
on the development, acquisition and management of institutional quality
multifamily communities in the Southeast, Southwest and Midwest areas 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 with respect to their multifamily investment activities.  AMLI
employs approximately 800 people who are dedicated to achieving AMLI's
mission -- Provide An Outstanding Living Environment For Our Residents.
    AMLI press releases and other company information are available at AMLI's
web site located at http://www.amli.com .

Link to this page:

  

http://www.prnewswire.com/comp/116726.html or fax,
800-758-5804, ext. 116726
CONTACT:
Allan J. Sweet, President, 312-984-2602, or
Brian Cranor, Senior Vice President, 317-524-2504, both of AMLI
Residential

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