ALLIANCE RESIDENTIAL PLANS 5,000 MULTIFAMILY UNIT STARTS BY END OF 2011

Phoenix-based Alliance Residential Company has development plans to commence construction on approximately 5,000 residential units in the second half of 2011. Since 2001, the company has invested $2.7 billion in the development of more than 20,000 units and $1.4 billion in the acquisition of more than 13,000 units, and currently has eight properties underway (*see below). Alliance manages all its developed properties and brands each underneath the Broadstone community name, in addition to providing third-party management services for a variety of assets nationwide. REBusinessOnline (REBO) had a chance to catch up with Jay Hiemenz, Alliance Residential’s CFO, to find out a little more of what the company is seeing in today’s multifamily market and where Alliance is taking advantage of opportunities.

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