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Morgan Stanley's Prime Property Fund to Acquire AMLI for $2B

CHICAGO-Through its diversified core real estate fund, New York City-based Morgan Stanley Real Estate is acquiring AMLI Residential Properties Trust at $37.75 per share.

By Dana Dubriwny | Updated on October 24, 2005

(To read more on the multifamily market, click here.)

CHICAGO-New York City-based Morgan Stanley Real Estate has entered into an agreement to purchase locally based AMLI Residential Properties Trust for $2.1 billion in cash. Through its $4.5 billion Prime Property Fund, Morgan Stanley will acquire all of AMLI’s common shares for $37.75 per share.

Completion of the acquisition is expected during the first quarter of 2006. The buyout was unanimously approved by AMLI’s board of trustees, which is expected to recommend that shareholders approve the transaction. Upon the transaction’s closing, AMLI’s management team will remain intact.

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