AMLI Residential Properties Trust, Chicago, has announced the sale of 2.1 million shares of common stock to Morgan Stanley & Co.The net proceeds of approximately $50.5 million will be used to purchase the limited partnership interests held by AMLI's venture partners in AMLI at Castle Creek LP, AMLI at Creekside LP, and AMLI at Regents Crest LP, the company said. AMLI said Morgan Stanley has been granted a 30-day option to buy an additional 315,000 shares of the common stock to cover any overallotments. AMLI specializes in developing, acquiring, and managing apartment communities. It can be found online at http://www.amli.com.
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