AMLI dumps Texas apartments

Property includes 500-plus units

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AMLI Residential Properties Trust sold AMLI at Verandah in Arlington, Texas. The value of the transaction was not disclosed. AMLI at Verandah contains 538 apartment homes and was built in two phases in 1986 and 1991. AMLI initially acquired a 35 percent interest in the community with a joint venture partner in 1997, and later purchased its partner's 65 percent ownership interest in early 2003. The identity of the buyer was not disclosed. AMLI is focused on the development, acquisition and management of multifamily communities in the Southeast, Southwest, Midwest and Mountain regions of the United States. *** Send tips or a letter to the editor to or call (510) 658-9252, ext. 124....