GID expands with a national multifamily development platform - GID Residential Partners

Manhattan, NY GID, a vertically-integrated real estate owner, operator, developer and investor, has expanded its development business with the launch of GID Residential Partners, a dedicated multifamily development platform. The platform will advance and complement GID’s overall strategy of growing its private market platforms in sectors with attractive risk-adjusted returns in select, demonstrated markets across the United States.

“The launch of GID Residential Partners marks an exciting evolution of our development platform, the roots of which go back to our firm’s founding more than 65 years ago,” said Greg Bates, president and CEO of GID. “We believe this expansion allows GID to bring all its resources to bear in addressing the nation’s acute housing shortage. We expect to be a market leader in the production of new housing, leveraging the operational quality and consistency that GID’s residents and investors have come to expect.” 

GID Residential Partners will be led by Sean Caldwell, as president. A highly-respected industry veteran, Caldwell brings decades of experience as a multifamily development executive, most recently at Mill Creek Residential, where he served as a founding partner and executive managing director, and prior to that at Trammell Crow Residential. Known for his experience and leadership, Caldwell has overseen the development of over 15,000 multifamily homes.

“GID Residential Partners represents an exciting new chapter in GID’s continued expansion,” said Caldwell. “I’m looking forward to building an exceptional team while working closely with GID’s leadership to leverage GID’s operational and financial strength to deliver quality multifamily developments at scale. I’m honored to lead this company.”

GID Residential Partners will leverage GID’s experience, reputation, and national reach across investment, development and management teams to support the creation of residential communities. GID’s vertically-integrated platform encompasses in-house development, design, construction and execution with its demonstrated market, operational, and investment capabilities and is designed to provide the new platform a powerful advantage to ensure consistent, high-quality execution for partners and investors.

GID Residential Partners has an existing pipeline of 3,500 units in Atlanta, Houston, Austin, and Denver and is expanding in markets in the Northeast, Southeast, Southwest, and West. The platform expects annual development activity of approximately $1.25 billion, focusing primarily on wrap, podium, and garden communities. 

“We are very pleased to welcome Sean to GID,” said John Gagnier, president, GID Global Development (including, Multifamily, Industrial and Industrial Cold Storage) . “While we expect continued development challenges in certain markets, the US housing market is fundamentally undersupplied and we see a compelling opportunity for GID. Sean’s leadership will be key as we expand GID’s strength at scale to realize this opportunity and continue our mission to build enduring value for our residents and investors.”