Search
 

Altman Sells Reserve at Ibis

WEST PALM BEACH, FL-AMLI Residential Properties, a Georgia-based REIT, enters the South Florida market with its purchase of the 234-unit, class AA community here. The sale price was undisclosed.

By Melissa Bogdany | Updated on July 21, 2004

WEST PALM BEACH, FL-Altman Development Corp., a Boca Raton, FL-based luxury apartment developer and manager, sold the Reserve at Ibis apartment community here to AMLI Residential Properties for an undisclosed price. The class AA resort-style community is the Georgia-based REIT’s first purchase in South Florida.The Reserve at Ibis, developed in 2001, consists of 234 units in 13 two- and three-story garden-style buildings. The Loxahatchee Nature Preserve and the Ibis Golf & Country Club border the property. Community amenities include a multipurpose club room with billiards, a resort-style pool and a spa with fountains, and a health club.The community has eight floor plans with an average unit size of 1,021 sf. The units feature 9-ft ceilings, gourmet kitchens, garden bathtubs, private screened balconies, walk-in closets, full-size washers and dryers, crown molding and wood trim.Jay H. Massirman, executive vice president with CB Richard Ellis, and Robert Given, vice president with LJ Melody & Co., advised the developer, Altman Development Corp., on the sale.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.