AMLI Residential Announces Corporate Housing Partnership With BridgeStreet Worldwide
23 Januar 2006 - 2:58PM
PR Newswire (US)
CHICAGO, Jan. 23 /PRNewswire/ -- AMLI Residential (NYSE:AML) today
announced that it has formed a partnership with BridgeStreet
Worldwide, which will become the exclusive provider of short-term
furnished housing and related services for the entire AMLI
Residential portfolio. AMLI Corporate Homes, the AMLI subsidiary
that previously managed AMLI's short-term furnished housing
business, will be dissolved. AMLI apartment communities are located
in suburban and urban locations in nine major markets: Atlanta,
Southeast Florida, Chicago, Kansas City, Indianapolis, Dallas,
Austin, Houston and Denver. "This partnership is a win/win for both
AMLI and BridgeStreet," said Peggy Butterworth, AMLI executive vice
president. "It enables us to continue to serve this market niche
while leveraging the expertise and high service standards of one of
the world's leading corporate housing providers. The cross
promotion between the companies for both short- and long-term
housing referrals will be mutually beneficial." "This exclusive
partnership reflects an outstanding product, service and brand
match," said Lee Curtis, BridgeStreet president. "AMLI's
communities offer luxurious amenities, convenient locations and
modern features that fit the lifestyle needs of our clientele. Via
this partnership, not only are we able to offer our corporate
clients a host of new property options, we are also introducing our
services to an entirely new customer base of individuals with
furnished housing needs. The AMLI partnership also enables us to
expand our services to two new markets for us -- Kansas City and
Indianapolis." The AMLI(R) portfolio currently includes 75
apartment communities containing 28,274 apartment homes, with an
additional 827 apartment homes under development or in lease-up in
three 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/. BridgeStreet Worldwide, a subsidiary of
Interstate Hotels & Resorts (NYSE:IHR), is one of the world's
largest corporate housing and serviced apartment providers.
BridgeStreet and its network of Global Partners offer corporate
apartments located in over 90 MSAs throughout the United States and
internationally. BridgeStreet properties meet uncompromising
standards of quality, comfort and service. For more information
about the company and to learn more about how BridgeStreet is
Making Corporate Housing Easy, visit http://www.bridgestreet.com/
or call 1-800-BSTREET. CONTACT: Peggy Butterworth, Executive V.P.
of AMLI Residential, +1-770-281-3370. First Call Analyst: FCMN
Contact: DATASOURCE: BridgeStreet Worldwide CONTACT: Peggy
Butterworth, Executive V.P. of AMLI Residential, +1-770-281-3370
Web site: http://www.bridgestreet.com/ http://www.amli.com/
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