The Altman Companies Break Ground to Develop Altís Grand at Suncoast in Northwest Tampa

Altís Grand will feature ultraluxe apartment homes offering private entry and air-conditioned hallway options served by elevators.

BOCA RATON, FL (December 20, 2021) –  The Altman Companies, a nationally recognized developer, builder and manager of exceptional rental communities, announced today that it has broken ground to develop Altís Grand at Suncoast, a 449-unit upscale Apartment Community in Lutz, a submarket of Tampa, Florida.  Rockpoint Group provided for equity capital and PNC Bank provided the loan.

“Over the past 53 years, The Altman Companies has developed a portfolio of high-end rental communities that have redefined the Exceptional Living Experience in Florida and across the country. We are thrilled to begin development of Altís Grand at Suncoast, an upscale, environmentally friendly community in Northwest Tampa,” said Joel Altman, Chairman & co-CEO of The Altman Companies.

Altís Grand at Suncoast will redefine the highest living standards through its unparalleled way of bringing residents an “Exceptional Living Experience.” Residents will enjoy exclusive membership to The Club, located within the community with a dedicated on-site Activities Director to organize events for residents including daily continental breakfast, Sunday brunch, “Wine Down Wednesdays” and various activities. The roster of exclusive amenities offered by The Club will also include direct access to a 24/7 fitness center complete with yoga, spinning & aerobics studios, a Starbucks cybercafé, multiple co-working lounges, a private conference room and a game room. A wellness treatment room and a resort-style swimming pool surrounded by cabanas, grilling stations, and a lush recreational pavilion provide additional options for residents to relax and recharge.

Altís Grand at Suncoast will offer exceptionally appointed one-, two-, and three-bedroom apartment homes accessible by private entry, or air-conditioned hallways served by elevators. Interior features in each home will include spa-inspired bathrooms equipped with dual sink vanities, a spacious soaking tub and clear glass shower enclosures. The spacious floorplans come complete with quartz countertops, 39” inch cabinets, front load washer and dryers, stainless steel and upgraded, energy-efficient appliances.

Altís Grand at Suncoast will be a pet-friendly community offering an indoor air-conditioned dog grooming spa, a multi-purpose trail, and a pet park with a gated, off-leash area to allow residents to bond and play with their pets. The community will also be equipped with a hobby/craft room and a 24/7 automated package pickup station for residents’ convenience.

Altís Grand at Suncoast will be National Green Building Standard (NGBS) certified and its sustainable initiatives will include 100% energy efficient designer lighting, ENERGY STAR® refrigerators and dishwashers, high efficiency water heaters and sub-metered water stations and electric car charging stations.

The prime location of Altis Grand at Suncoast provides easy transportation access in all directions, with both the Suncoast Parkway/S.R. 589 and S.R. 54 providing quick connectivity to major employment destinations, cultural and entertainment centers nearby. The community is also located within a 30-minute drive to the Westshore Office Submarket, comprising over 18 million square feet of office space.

“This transaction and the groundbreaking mark another significant development for The Altman Companies as we continue to develop exceptional Altís communities in the Tampa area,” added Seth Wise, co-CEO of The Altman Companies. “We have built five other Altís communities in the market and this is a true testament to our commitment to both the brand and the local area.”

Altís Grand at Suncoast is set to have its first units delivered in 2023. To learn more about Altís Grand at Suncoast, please visit https://altmancos.com/.

About The Altman Companies: Since 1968, The Altman Companies has developed, constructed, acquired, and managed over 26,000 multi-family homes 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 brand 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 six in South Florida including Altís Bonterra, Altís Boca Raton, Altís Pembroke Gardens, Altís Miramar, Altra Miramar and Altís Little Havana; 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 a number of communities under construction or in the pipeline throughout Florida, including Altís Grand at Lake Willis in Orlando, Altís Suncoast and Altís Wiregrass Square in Northwest Tampa, Altís Santa Barbara in Naples, Altís Blue Lake in Lake Worth and two in Miami metro area – Altís Ludlum Trail and Altís Kendall Baptist. The company has opened an Atlanta office with plans for developments in Georgia, North Carolina, South Carolina, and Tennessee. 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 South Florida Business Journal. For more information on The Altman Companies, go to www.AltmanCos.com.

About BBX Capital Real Estate:  BBX Capital Real Estate, a division of BBX Capital, is engaged in the acquisition, development, construction, ownership, financing, and management of real estate and investments in real estate joint ventures, including investments in multifamily rental apartment communities, single-family master-planned for sale housing communities, and commercial properties located primarily in Florida. BBX Capital Real Estate also has an approximate 50% ownership interest in The Altman Companies, which includes membership interests in Altman Development Company, Altman-Glenewinkel Construction and Altman Management Company.

About BBX Capital, Inc.:  BBX Capital, Inc. is a Florida-based diversified holding company whose principal holdings include BBX Capital Real Estate, BBX Sweet Holdings, and Renin. For additional information, please visit www.BBXCapital.com.

About Rockpoint Group: Rockpoint Group, L.L.C. (“Rockpoint”) is a real estate private equity firm headquartered in Boston with additional domestic offices in San Francisco and Dallas.  Rockpoint employs a fundamental value approach to investing and targets select product types located in major markets in the United States.  Rockpoint utilizes a consistent strategy across distinct return profiles through its opportunistic and growth and income investment programs.  Rockpoint targets assets with intrinsic long-term value, at attractive prices relative to replacement cost and stabilized cash flows, and with particular emphasis on value creation opportunities and complex situations.  Since 1994, Rockpoint’s co-founders with others have sponsored 16 commingled funds and related co-investment vehicles through Rockpoint and a predecessor firm and have raised approximately $26 billion in capital commitments. As of September 30, 2021, Rockpoint’s investment team with others has invested or committed to invest in 460 transactions with a total peak capitalization of approximately $69 billion (inclusive of fund equity, co-investor equity and debt). To learn more about Rockpoint, visit www.rockpoint.com.

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