|CHICAGO, Jan. 23 -- 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."
About AMLI Residential
The AMLI® 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 www.amli.com.
About BridgeStreet Worldwide
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 www.bridgestreet.com or call 1-800-BSTREET.