After more than 20 years with Altman Living in various executive positions, Tim Peterson is leaving the multifamily and affordable housing subsidiary of BBX Capital for another developer.
)
Peterson has taken on a new role as chief investment officer for Coral Springs-based White Oak Development, he said Thursday at a Live Local Act-related event in Brickell.
He had been chief strategy officer at Altman Living and is still listed as such on the company's website as the person responsible for the firm's strategic growth initiatives and overseeing asset management and disposition functions.
He began his position at White Oak on June 22 and will be transitioning away from Altman Living through the end of the year, a White Oak spokesperson said.
“White Oak is entering an exciting period of growth, and Tim brings exactly the depth of experience and perspective we need for this next chapter,” White Oak President and CEO Andy Burnham said in a statement. “His expertise across multifamily investment, capital markets and strategic growth will be invaluable as we continue to grow our portfolio and pursue new opportunities.”
Altman Living is an operating platform under The Altman Cos., which Fort Lauderdale-based BBX Capital purchased in 2023 from company founder Joel Altman.
Altman, which has developed more than 28,000 apartments across the U.S., is underway with apartment projects in North Miami, Boca Raton and South Dade, according to its website.
Peterson joined Altman Living as a partner in 2003 and worked his way up to the role of chief strategy officer in 2024, according to his bio on Altman's website. Before that, he was an executive at apartment developer Post Properties.
BBX declined to comment.
The move comes more than a year after BBX announced that it would take strategic steps to preserve its cash, including cutting executive salaries, slowing operations, reducing staff and halting new real estate development amid inflationary pressures.
Since the announcement, BBX sold its industrial arm, Altman Logistics Properties, to FRP Holdings Inc. for $33.5M in October. The company's president, Randall Vitale, stepped down in December to launch his own firm.
White Oak, which builds multifamily and mixed-use communities, was founded in 2011 as CC Residential by Armando Codina, Jim Carr and Andy Burnham. It went through a leadership transition in 2020, when Burnham was named CEO, and then rebranded to White Oak in 2022.
The development firm has built more than 4,500 units and is gearing up for more. It landed a $66.6M mortgage from PNC Bank in March to get started on a 297-unit apartment project as part of a mixed-use development in Broward County called Plantation Walk — a 27-acre development set to feature apartments, offices, retail and a hotel.
UPDATE, SEPT. 9, 4:20 P.M. ET: This story has been updated with new information about Peterson's move and a statement from White Oak.
)
)
)
)
)
)
)
)
)
)
)
)