AMLI BETS ON OLD FOURTH WARD
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|Yesterday, we snapped the 337-unit apartment complex once known as Alta Old Fourth Ward. AMLI Residential Properties Trust bought it this month for $45.5M, roughly $135K per unit, according to Databank. The complex had been foreclosed on in January by CSE Mortgage. The Old Fourth Ward is experiencing a bit of renaissance, with new restaurants and retail, as well as a number of multifamily projects coming online in recent years.|
|Doing our best to visually represent such rebirth, we show you the new sign, which AMLI has installed since the deal closed July 1. (And perhaps those flowers are perennials re-blooming. Too much?) AMLI is based in Chicago and focuses on the development, acquisition, and management of luxury apartment communities. It now has 13 properties in Atlanta. Others include AMLI at Barrett Walk, AMLI Lindbergh, and AMLI Atlantic Square. AMLI's other markets are Austin, Chicago, Denver, Houston, Kansas City, New Jersey, Seattle, South Florida, and Southern California.|