AML Amli Resident Prp Tr

AMLI Residential Announces Modifications to Unsecured Credit Facilities CHICAGO, July 26 /PRNewswire-FirstCall/ -- AMLI Residential Properties Trust (NYSE:AML) today announces modifications to its three unsecured bank credit facilities. AMLI has amended the terms of its primary and secondary unsecured bank revolving lines of credit to increase the commitment amounts to $250 million and $20 million, respectively; extend the maturity dates for new three-year terms (with one-year extension options) and modify the pricing structures and certain covenants. The bank group providing the primary line of credit includes JPMorgan Chase Bank, as Co-lead Arranger and Administrative Agent; Key Bank, as Co-lead Arranger and Syndication Agent, Harris Bank, PNC Bank and Commerzbank AG as Co-Documentation Agents; as well as Wells Fargo Bank, Wachovia Bank, and Comerica Bank. The secondary line of credit is provided by Harris Bank. Both lines of credit are available to fund acquisition and development activities, as well as for general working capital purposes. Additionally, AMLI modified the pricing structure and certain covenants on its $110 million unsecured bank term loan, which was provided in 2004 by Wells Fargo Bank, as Lead Arranger and Agent, PNC Bank, Commerzbank AG and Comerica Bank, to align the terms with those of the other two credit facilities. "The new pricing structures provide for loan spreads based on the better of a leverage or rating grid, which AMLI expects to reduce the overall pricing of our credit facilities," stated Andrew J. Bruce, AMLI Vice President of Capital Markets. "We value the relationships we have built with our bank group, and we appreciate their cooperation and support in extending the maturity dates a year before their current maturities and otherwise modifying the terms of the loan documents for AMLI's benefit." The AMLI(R) portfolio currently includes 74 apartment communities containing 28,136 apartment homes, with an additional 1,047 apartment homes under development or in lease-up in four 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 http://www.amli.com/ . DATASOURCE: AMLI Residential Properties Trust CONTACT: Andrew J. Bruce, Vice President, Capital Markets, +1-972-265-6724, or Robert J. Chapman, Chief Financial Officer, +1-312-984-6845, both of AMLI Residential Properties Trust Web site: http://www.amli.com/

Copyright