GID Acquires Altis Ludlam Trail Multifamily In Miami For $91.4M

The Altis Ludlam Trail, a newly built apartment complex in Miami's Ludlam Trail area, has been purchased by GID for $91.4 million from BBX Capital Real Estate. This multifamily property consists of 312 units and spans a total area of 535,679 square feet. The sale price equates to an average of $292,949 per unit and $171 per square foot. Located at 7004 Southwest 40th Street, the Altis Ludlam Trail adds to the ongoing trend of active summer multifamily deals in South Florida.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $91,400,000
• Units: 312
• Price per Unit (PPU): $292,949
• Square Footage: 535,679
• Price per Square Foot (PPSF): $171
• Market: Miami

GID, represented by Gregory S. Bates, acquired the Altis Ludlam Trail from BBX Capital Real Estate in this notable transaction. This purchase marks GID's investment in the flourishing Miami real estate market, specifically in the Ludlam Trail area. BBX Capital Real Estate, serving as the seller in this deal, has successfully negotiated the sale of the Altis Ludlam Trail to GID, contributing to the surge in multifamily real estate activity this summer in South Florida.