EX-99.1
5
exh_991.txt
EXHIBIT 99.1
------------
Press Release dated October 21, 2004
AMLI 125 South Wacker Drive
RESIDENTIAL Chicago, Illinois 60606
Phone: 312.443.1477
Fax: 312.443.0909
www.amli.com
PRESS RELEASE
FOR IMMEDIATE RELEASE
---------------------
October 21, 2004 For More Information, Contact:
Allan J. Sweet, President
(312) 984-2602
Fred Shapiro, Senior Vice President
(312) 984-5039
AMLI RESIDENTIAL ANNOUNCES THIRD
SUBURBAN CHICAGO ACQUISITION
==========================================================================
(CHICAGO, IL) AMLI RESIDENTIAL PROPERTIES TRUST (NYSE: AML) announces that
it has completed the purchase of AMLI at Kirkland Crossing (formerly the
Preserve at Kirkland Crossing) in Aurora, Illinois. As described in a press
release dated September 17, 2004, AMLI acquired AMLI at River Run (formerly
The Preserve at River Run) in Naperville, Illinois and AMLI at Canterfield
(formerly The Tradition at Canterfield) in West Dundee, Illinois last month
from the same developer.
AMLI AT KIRKLAND CROSSING is a 266-unit community set on 19.2 acres. The
community was completed this year and contains 303,952 rentable square feet
in 15 two- and three-story buildings with 52 (20%) one-bedroom, 144 (54%)
two-bedroom and 70 (26%) three-bedroom apartment homes. The average size of
the apartment homes is 1,143 square feet. The community offers numerous
amenities including a resort-style swimming pool and spa, state-of-the-art
fitness center, indoor sport court, resident business center, kids fun-n-
study center, and attached and detached garages.
"The completion of these three acquisitions, coupled with our two recent
Chicago developments, shows our substantial commitment to Chicago, a high-
barrier market", stated Allan Sweet, AMLI President. "AMLI is now one of
the largest operators of luxury apartment communities in the Chicago
suburban market. These acquisitions are consistent with our strategy to
continually upgrade our portfolio with young Class A apartment
communities".
The AMLI
portfolio currently includes 74 apartment
communities containing 27,594 apartment homes, with an additional 1,854
apartment homes under development or in lease-up in five 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 www.amli.com.

EX - 99 . 1 5 exh _ 991 . txt EXHIBIT 99 . 1 ------------ Press Release dated October 21 , 2004 AMLI 125 South Wacker Drive RESIDENTIAL Chicago , Illinois 60606 Phone : 312 . 443 . 1477 Fax : 312 . 443 . 0909 www.amli.com PRESS RELEASE FOR IMMEDIATE RELEASE --------------------- October 21 , 2004 For More Information , Contact : Allan J . Sweet , President ( 312 ) 984 - 2602 Fred Shapiro , Senior Vice President ( 312 ) 984 - 5039 AMLI RESIDENTIAL ANNOUNCES THIRD SUBURBAN CHICAGO ACQUISITION = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = ( CHICAGO , IL ) AMLI RESIDENTIAL PROPERTIES TRUST ( NYSE : AML ) announces that it has completed the purchase of AMLI at Kirkland Crossing ( formerly the Preserve at Kirkland Crossing ) in Aurora , Illinois . As described in a press release dated September 17 , 2004 , AMLI acquired AMLI at River Run ( formerly The Preserve at River Run ) in Naperville , Illinois and AMLI at Canterfield ( formerly The Tradition at Canterfield ) in West Dundee , Illinois last month from the same developer . AMLI AT KIRKLAND CROSSING is a 266 - unit community set on 19.2 acres . The community was completed this year and contains 303,952 rentable square feet in 15 two - and three - story buildings with 52 ( 20 % ) one - bedroom , 144 ( 54 % ) two - bedroom and 70 ( 26 % ) three - bedroom apartment homes . The average size of the apartment homes is 1,143 square feet . The community offers numerous amenities including a resort - style swimming pool and spa , state - of - the - art fitness center , indoor sport court , resident business center , kids fun - n - study center , and attached and detached garages . " The completion of these three acquisitions , coupled with our two recent Chicago developments , shows our substantial commitment to Chicago , a high - barrier market " , stated Allan Sweet , AMLI President . " AMLI is now one of the largest operators of luxury apartment communities in the Chicago suburban market . These acquisitions are consistent with our strategy to continually upgrade our portfolio with young Class A apartment communities " . The AMLI portfolio currently includes 74 apartment communities containing 27,594 apartment homes , with an additional 1,854 apartment homes under development or in lease - up in five 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 www.amli.com .