AMLI buys, sells apartment properties

Gains 372 luxury units in Colorado

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AMLI Residential Properties Trust has acquired AMLI at Westcliff (formerly the Retreat at Westcliff) in Westminster, Colo., and has sold AMLI at Nantucket and AMLI on Timberglen, both in Dallas, Texas. The total value of the transactions was not disclosed. AMLI at Westcliff is a 372-unit luxury apartment community set on approximately 26.5 acres located on Westcliff Parkway, just west of Highway 36 and South of Church Ranch Blvd. The community was completed in 2003 and contains 372,220 rentable square feet in 20 two- and three-story buildings with 232 (63 percent) one-bedroom, 124 (33 percent) two-bedroom and 16 (4 percent) three-bedroom apartment homes. The average size of the apartment homes is 1,001 square feet. The community includes a swimming pool, fitness center, two sand volleyball courts, resident business center and attached and detached garages. AMLI at Nantucket contains 312 apartment homes and was built in 1986 and owned by AMLI since its initial public offering (IPO) i...