Joint venture sells Austin housing

A joint venture between AMLI and an undisclosed investor sold its 576-unit Wells Branch multifamily community in Austin, Texas.

The value of the transaction was not disclosed.

The property, in which AMLI owned a 25 percent interest, was built in 1999.

An affiliate of Waterton Associates LLC, a private investment group, was the buyer.

AMLI Residential Properties Trust (NYSE: AML) is focused on the development, acquisition and management of institutional-quality multifamily communities.

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