ATLANTA, GA – National multifamily developer Wood Partners announced the start of construction of Altera Union City near Atlanta and Altera Land O’ Lakes near Tampa, Florida. The multifamily communities are part of the firm’s Altera brand, a new attainable housing initiative offering upscale living at cost-effective rates.
Altera communities are built with upscale finishes such as granite countertops and stainless-steel appliances and top-of-the line amenities. The developer saves on costs by selecting well-located suburban sites rather than more expensive urban locations, executing an efficient and consistent design and embracing minimal, yet well-done, landscaping. These savings allow for a lower price point for the renter.
“There continues to be a shortage of reasonably priced rental options in this country,” said Joe Keough, Chairman and CEO at Wood Partners. “As a responsible member of the housing industry, we believe it is our obligation to offer a solution to this problem by making a product that falls within our high standards of excellence at an attainable price. We look forward to expanding our Altera product offering across the country.”
Altera Union City: Altera Union City is located at 7105 Hall Road in Union City, Georgia, outside of Atlanta. The 320-unit apartments will feature an expansive ground floor amenity level with resort-style pool, fully equipped gym and yoga studio. But, its greatest amenity is its location. Altera Union City is walkable to Starbucks, Dunkin’ Donuts and the Publix Super Market at Parkway Village. Bennett Sands, Managing Director of Wood Partners’ Atlanta office, is the development lead for the project.
Altera Land O’Lakes: Located at 18722 Grand Live Oak Boulevard in Land O’ Lakes, FL, Altera Land O’ Lakes encompasses five 4-tale buildings and one 3-tale building totaling 305 apartment units with one-, two- and three-bedroom options. The site fronts US-41 and has brilliant access offering convenient commutes throughout the Tampa MSA. The community is located in Pasco County, which is ranked as one of Florida’s fastest growing submarkets.
Amenities at Altera Land O’ Lakes will include an attractive leasing, fitness and clubhouse building with co-working space, day office and package room. The community will also feature a resort-style pool, sundeck with shade sails, grilling areas, fire pits, outdoor gaming, dog park and pet wash.
The project is estimated to be completed by December 2025. Tyler Hurd, Managing Director of Wood Partners’ Tampa office, is the development lead for the project.

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MIAMI, FL – Related Group, one of the country s premier developers of sophisticated metropolitan living, and W5 Group, a leader in innovative residential investments in Europe and the US, have officially kicked off leasing and go-ins for i5 Wynwood, the district s first co-living community. Envisioned to offer Miami s definitive communal living experience, i5 Wynwood features 217 fully furnished, curated private suites with top-tier amenities starting in the $1,500s roughly 45% less than the cost of leasing a comparable, unfurnished studio apartment in the Wynwood, Downtown, and Brickell neighborhoods.
“i5 Wynwood exemplifies Related s commitment to continuously reimagining what housing can be, said Jon Paul Perez, President at Related Group. “In collaboration with W5 Group, we ve made a residential community that shows the full potential of the co-living sector, while catering to a diverse range of residents, from young professionals drawn to the neighborhood s growing tech scene to individuals seeking a more accessible, community-focused lifestyle.”
Each of i5 Wynwood s suites provides each resident with a private bedroom and private bathroom, as well as a spacious shared living room, dining room, and chef-inspired kitchen. Tenants have a choice of 3- or 4-bedroom apartments—all fully furnished with queen beds, writing desks, multiple shelving units, sleek lighting, dining tables and chairs, leather sofas, coffee tables, entertainment consoles, wall-mounted flat-screen TVs, dining and cutlery sets, wall art, Latch electronic locks in all suites, and Nest Smart Thermostats by Google. Rental rates start at $1,580 per private bedroom suite and include the use of all communal spaces.
“In vibrant urban hubs like Wynwood, access to premier living often comes with a hefty price tag. But, co-living communities are revolutionizing the landscape, making this coveted neighborhood accessible to a diverse spectrum of tenants,” shared Ralph Winter founder and principal of W5 Group. “While boasting unparalleled aesthetics and amenities, our development, i5, stands out by offering affordability without compromising on quality. It’s poised to redefine the Wynwood experience.”
Interiors by Michael Wolk, also of the acclaimed St. Regis Resort Bal Harbour and Porsche Design Tower, embrace the artistic spirit of the Wynwood neighborhood with a fresh, colorful take on mid-century modern style, and simple, clean-lined design, enriched by artist Jing Wei s striking murals across the building s exterior facade.
i5 Wynwood amenities are designed to surpass those of existing co-living communities, featuring a rooftop pool oasis with sweeping skyline views, cabanas, picnic tables, a state-of-the-art grilling station, state-of-the-art fitness center outdoor yoga lawn, an expansive entertainment space with a premium sound system, game room with ping pong and lounge seating, and versatile co-working spaces equipped with sleek Poppin work pods, and meeting rooms.
A dedicated 24-7 lobby concierge, property-wide security system, and designated parking promise incomparable ease, security, and convenience for the i5 community.
Located at 51 NW 28th Street, the nine-tale i5 Wynwood places residents at the heart of Miami s most exciting neighborhood with unmatched access to Michelin-star restaurants, award-winning bars, and trendy boutiques as well as the rich assortment of art galleries, studios, and exhibition spaces for which the area is known. Built to extend the neighborhood s art-driven, pedestrian-centric lifestyle, i5 Wynwood features over 3,900 sq. ft. of ground-floor retail space surrounding a 6,600 sq. ft. shaded central courtyard.

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ALEXANDRIA, VA – Bonaventure, an integrated alternative asset manager focused on the investment, development, construction and management of innovative lifestyle multifamily communities in the Mid-Atlantic and Southeastern regions, announced the sale of a roughly $18 million interest in Attain Downtown, a 156-unit Class-A multifamily community in downtown Norfolk, Va. and the acquisition of Cavalier Crossing, a 144-unit apartment community in Charlottesville, Va. The transactions were completed on behalf of Bonaventure Multifamily Income Trust, its perpetual life multifamily investment fund.
As part of the transaction, BMIT will retain a majority stake in Attain Downtown and continue to oversee its operations. The company used the proceeds from the sale to buy Cavalier Crossing, a 144-unit garden-style apartment community in Charlottesville, Va., through a tax efficient 1031 exchange. The combined transaction is representative of one of Bonaventure s current investment tactics of extracting capital from stable core assets and redeploying it into undervalued or mismanaged value add opportunities with the potential for higher returns on a risk-adjusted basis.
Specifically, Bonaventure sold fractional ownership of Attain Downtown as a custom solution for an investor seeking to utilize the 1031 exchange. The sale was structured as a Tenancy-in-Common (TIC) transaction, which allows multiple investors to own undivided interests in a single property and defer capital gains taxes through a 1031 exchange.
This transaction represents one of the many customized solutions we can offer our clients to solve their 1031 exchange needs, while also helping us grow strategic new partnerships, said Bonaventure CEO and Founder Dwight Dunton. The 1031 transaction type allows for all involved parties to benefit. BMIT retained an ownership stake in Attain Downtown and continues to manage the property, and the new co-owner enjoys the potential for risk-adjusted returns without having to actively manage the property.
Bonaventure s private transaction partner added: The Bonaventure team was most helpful and professional in getting our 1031 with multiple Tenants in Common over the end line as new co-owners in a fantastic apartment community. This was a complex and tedious transaction and we could not have completed it without their help and experience. We are looking forward to much prosperity and profit in our growing business relationship.
Attain Downtown, ideally located in the heart of Downtown Norfolk, offers studio, one-, two-, and three-bedroom units with luxury finishes, walk-in closets, stainless steel appliances and energy-efficient designs. Amenities include a saltwater pool, 24-hour fitness center, gas grills, fire pits, and EV charging stations. Its prime location provides residents with simple access to dining and convenience options along Granby Street and proximity to the Historic Freemason District.
Bonaventure used the proceeds from the fractional sale of Attain Downtown to buy Cavalier Crossing. Constructed in 2003 and strategically located near the University of Virginia and a Wegmans-anchored retail center, Cavalier Crossing will undergo a comprehensive renovation to upgrade unit interiors, amenities, and curb appeal. Bonaventure will enhance the existing amenity package which already includes a swimming pool, fitness center, basketball court, and volleyball court, to deliver an upscale community in a market where demand significantly outpaces supply.
Dunton continued, The acquisition of Cavalier Crossing aligns perfectly with our current acquisition strategy of identifying undervalued assets in growth markets that offer significant potential for value creation. By leveraging our nearly 25 years of success in multifamily development, we plot to reposition this well-located property into a thriving multifamily community.
The Charlottesville rental housing market is marked by high occupancy rates and limited new supply in the development pipeline. Charlottesville’s vibrant economy, driven by its status as a hub for education, healthcare, and technology, makes it an ideal location for multifamily investment. The University of Virginia not only contributes to a stable demand for housing but also anchors the community with its medical center, the largest employer in the area. This dual influence of UVA s educational and healthcare institutions further drives the demand for quality housing.
Cavalier Crossing is the latest addition to BMIT s 20-property portfolio, which consists of high-quality multifamily properties in strong markets across the Mid-Atlantic and Southeast regions. Since its inception in 2021, BMIT has bought properties, many of which have used custom-built 1031 or 721 exchange programs under the Internal Revenue Code. Many of these solutions cater to investors seeking stable cash flow from multifamily properties without direct ownership and active management.

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