After more than 20 years with Altman Living, 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 at a recent Live Local Act-related event in Brickell.
A Long Tenure at Altman Living
He had been chief strategy officer at Altman Living, responsible for the firm’s strategic growth initiatives and overseeing asset management and disposition functions.
Altman Living is an operating platform under The Altman Cos., which BBX Capital purchased in 2023 from company founder Joel Altman.
Altman has developed more than 28,000 apartments across the U.S. and is currently working on projects in North Miami, Boca Raton, and South Dade.
Peterson joined Altman Living as a partner in 2003 and worked his way up to chief strategy officer in 2024. Before that, he was an executive at apartment developer Post Properties.
BBX Capital’s Strategic Shifts
BBX Capital declined to comment on Peterson’s departure. The move comes more than a year after BBX announced 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.
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Since the announcement, BBX sold its industrial arm, Altman Logistics Properties, to FRP Holdings Inc. for $33.5 million in October. The company’s president, Randall Vitale, stepped down in December to launch his own firm.
It is unclear when Peterson stepped into his new role at White Oak Development, which didn’t respond to requests for comment.
White Oak Development’s Growth
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 secured a $66.6 million mortgage from PNC Bank in March to begin a 297-unit apartment project as part of a mixed-use development in Broward County called Plantation Walk. This 27-acre development will feature apartments, offices, retail, and a hotel.
For residents of Broward County, the new development could mean more housing options and a boost in local amenities, though the full impact remains to be seen as the project progresses.
Peterson’s move to White Oak Development marks a significant shift in his career, bringing his extensive experience to a company poised for expansion in the multifamily and mixed-use sectors.