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              Consent of Independent Certified Public Accountants


     We consent to the use of (a) our report dated January 28, 1998, with
respect to the consolidated financial statements of MIG Residential REIT, Inc.
for each of the three years in the period ended December 31, 1997 and (b) our
report dated February 20, 1998, with respect to the combined financial 
statements of MIG Companies for the year ended December 31, 1997, included in 
this Current Report on Form 8-K/A-1 incorporated by reference in Registration 
Statements (Form S-3 No. 333-22419 and Forms S-8 No. 333-27429 and No. 33-88430)
of AERC filed with the Securities and Exchange Commission.


/s/  Ernst & Young, LLP
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Ernst & Young, LLP

West Palm Beach, Florida
June 24, 1998