GID Announces Acquisition of 312-Unit Community in West Miami
MIAMI, Aug. 30, 2023 /PRNewswire/ — GID, a real estate owner and fiduciary that invests in multiple asset classes, has announced the acquisition of Altís Ludlam Trail from The Altman Companies, a 312-unit, wrapped-style community located in Miami that will be rebranded as Windsor Ludlam Trail.
The community features a roof-top heated swimming pool with a sun deck and poolside cabanas, a fitness center with cardio and yoga rooms, a game lounge, movie theatre, business center, and flex work-from-home spaces.
Located in the West Miami submarket of Florida, with proximity to major thoroughfares Highway 826, 836, and US Route 1, the community is uniquely positioned adjacent to the Ludlam Trail, a 6.2-mile linear greenway connecting a vast network of 30,000 residents, five schools, six parks, and nearly 50 acres of green space. The Ludlam Trail also serves as a major alternative transportation option for non-vehicular travel to the Blue Lagoon and Dadeland office markets.
“The Altman Companies are proud to have developed Altís Ludlam Trail into a premier residential community with a strong emphasis on sustainability and an exceptional living experience,” said Seth Wise, CEO of The Altman Companies. “As we transition ownership to GID, we have full confidence that they will uphold the same standards of excellence and further enhance the community for its residents.”
“This strategic move reflects our unwavering commitment to expanding our portfolio and offering exceptional living experiences to our residents,” said Greg Bates, President and CEO of GID. “With the acquisition of Altís Ludlam Trail, we are poised to set new standards for resident satisfaction, create a positive impact, and solidify our position as a leader in the real estate industry. We look forward to greeting our residents and building lasting partnerships with the local community.”
To learn more about GID, visit www.gid.com.
About GID
GID is a leading real estate investment and management firm that operates a diverse portfolio of multifamily, industrial, and mixed-use developments across the United States. With over 60 years of experience across multiple asset classes, GID is an established real estate private equity investor and fiduciary supported by an integrated operating platform with approximately 54,000 multifamily units and over 25M square feet of industrial and commercial space of assets under management. The company also operates a credit platform that aims to provide commercial real estate debt solutions for institutional borrowers.
With corporate offices in Atlanta, Boston, Dallas, New York City, and San Francisco, GID employs over 1,200 real estate professionals and operates an expansive portfolio of existing and under-development properties valued at over $30.11 billion as of June 2023.
1Assets Under Management is calculated in compliance with the definition for Assets Under Management (“AUM”) prescribed in INREV’s Global Definitions Database.
About The Altman Companies: The Altman Companies, a wholly-owned subsidiary of BBX Capital Real Estate, is engaged in the development, construction, and management of multifamily apartment communities. Since 1968, The Altman Companies has developed, constructed, acquired, and managed over 27,000 multifamily units throughout the United States, including communities in Florida, Michigan, Illinois, Tennessee, Georgia, Texas, and North Carolina. The company has distinguished itself by creating boutique mid-rise and garden-style communities under its Altís and Altra brands with resort-style amenities and high-touch services, delivering with it ‘Exceptional Living Experiences’ for its residents. In the last 5 years, The Altman Companies has opened eleven new apartment communities, with seven in South Florida, including Altís Bonterra, Altís Boca Raton, Altís Pembroke Gardens, Altís Miramar, Altra Miramar, Altís Little Havana, and Altís Ludlam Trail and five in Central Florida – Altís Shingle Creek in Kissimmee, Altís Wiregrass Ranch in Wesley Chapel, Altís Promenade in Lutz, Altís Grand Central in Tampa and Altís Grand at The Preserve in Odessa. Today, The Altman Companies has several communities under construction or in the pipeline throughout Florida, including Altís Grand Lake Willis in Orlando, Altís Grand Suncoast in Northwest Tampa, Altís Santa Barbara in Naples, Altís Blue Lake in Lake Worth, and one in Miami metro area – Altra Kendall. Known for its development of exceptional apartment living, The Altman Companies has been a leader in the rental apartment field and has been recognized as the South Florida Developer of the Year by the South Florida Business Journal. For more information on The Altman Companies, go to www.AltmanCos.com.
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SOURCE GID Real Estate
