In April 2000, the First Islamic Group and its co-investors formed a joint venture with Archstone Communities Trust ("Archstone") to acquire a portfolio of five suburban apartment complexes in the United States, in the first of a series of real estate offerings.In June 2000, the First Islamic Group and its co-investors formed a joint venture with Archstone Communities Trust ("Archstone") to acquire a portfolio of six suburban apartment complexes in the United States, in the second of a series of real estate offerings.
The two joint ventures, First Multifamily Properties & Second Multifamily Properties have properties in Albuquerque, Atlanta, Houston, Nashville, Phoenix, Raleigh, Richmond, Salt Lake City & San Antonio.