A. Describe your advisory firm, including how long you have been in business. Identify your principal
owner(s).
GID is a privately held, diversified real estate investment manager with corporate offices in Atlanta, GA;
Boston, MA; Dallas, TX; New York, NY; San Francisco, CA. Since 1960, GID’s affiliated entities have
invested in real estate exclusively for its own account. Since its formation in 2003, GID has provided
investment and management services to pooled investment vehicles and other co-investment joint
ventures. Today, GID is a vertically integrated real estate company that develops, owns, and operates
various types of real estate, including multifamily, condominiums, retail, commercial, industrial and
mixed-use. GID is wholly owned and ultimately controlled by the Wallace family.
B. Describe the types of advisory services you offer. If you hold yourself out as specializing in a
particular type of advisory service, such as financial planning, quantitative analysis, or market timing,
explain the nature of that service in greater detail. If you provide investment advice only with respect
to limited types of investments, explain the type of investment advice you offer, and disclose that
your advice is limited to those types of investments.
GID provides investment management services consisting of portfolio management and investment
management services to certain pooled investment vehicles, (each, a “Fund” and, together with any
future private investment fund to which GID and/or its affiliates provide investment advisory services,
the “Funds”). Each Fund is managed by a general partner that is affiliated with GID (each, a “General
Partner” and collectively, together with any future affiliated general partner entities, the “General
Partners”). Each General Partner is subject to the Advisers Act pursuant to GID’s registration in
accordance with SEC guidance. This Brochure also describes the business practices of the General
Partners, which operate as a single advisory business together with GID.
A related party currently owns, and is permitted to own in the future, investments through a proprietary
account to which GID provides services. Related parties serve as co-investors in joint ventures with
unaffiliated investors where the latter maintain significant approval rights over the management of
the joint ventures. Such investment vehicles, separately managed accounts, special purpose vehicles,
proprietary account and co-investment joint ventures which are not categorized as a Fund (each, an
“Other GID Account”) are not included in Regulatory Assets under Management (“RAUM”) or
reported in dollars in custody and are not considered “clients” in the ADV Part 1.
GID’s experience spans multiple real estate asset classes, including multifamily, condominiums, retail,
commercial, industrial and mixed-use development. GID’s investment management operations are
supported by a vertically-integrated operating platform comprising disciplines including acquisitions,
construction and development, research and data analytics, sustainability, property management,
finance and corporate operations. GID’s advisory services to a Fund are detailed in each Fund’s private
placement memorandum or other offering documents (the “Memorandum”), limited
partnership
agreement of the Fund (the “Partnership Agreement” and, together with any relevant Memorandum,
the “Governing Documents”) and are further described below under “Methods of Analysis, Investment
Strategies and Risk of Loss.”
C. Explain whether (and, if so, how) you tailor your advisory services to the individual needs of clients.
Explain whether clients may impose restrictions on investing in certain securities or types of
securities.
GID curates services to each Fund within the scope of the investment objectives included in that
vehicle’s Governing Documents. Investors in the Funds participate in the overall investment program for
the Fund, but GID is permitted to enter into separate agreements which alter or enhance an investor’s
rights, privileges or obligations with respect to an investment (commonly referred to as “side letters”).
Such different or preferential rights or terms may include, but are not limited to, different fee structures
(including discounted or rebated compensation terms), information rights, specialized reporting, priority
co-investment rights or targeted co-investment amounts, rights to serve on the Fund’s advisory
committee, and liquidity or transfer rights. Side letters may also relate to strategic relationships under
which an investor agrees to make commitments to multiple Funds. Except where required by Governing
Documents, other investors will not receive copies of side letters or related provisions, and as a general
matter, the other investors have no recourse against a Fund, GID, the relevant General Partner or any of
their affiliates in the event that certain investors have received additional and/or different rights and/or
terms as a result of such side letters. As a consequence of one or more limited partners being excused
or excluded, or from regulatory, tax or other factors altering or limiting their participation in
investments or ability to bear certain liabilities or obligations, the aggregate returns realized by
participating or non-participating limited partners could be adversely affected in a material manner by
the unfavorable performance of particular investments; similar considerations apply in the event a
limited partner defaults on a drawdown in respect of an investments. Such side letters are established
at the discretion of the general partner and for the avoidance of doubt, such arrangements generally do
not and will not create an adviser-client relationship between GID and any investor.
D. If you participate in wrap fee programs by providing portfolio management services, (1) describe
the differences, if any, between how you manage wrap fee accounts and how you manage other
accounts, and (2) explain that you receive a portion of the wrap fee for your services.
GID does not participate in wrap fee programs.
E. If you manage client assets, disclose the amount of client assets you manage on a discretionary
basis and the amount of client assets you manage on a non-discretionary basis. Disclose the date “as
of” which you calculated the amounts.
As of December 31, 2022, GID managed $3,491,986,275 in client assets on a discretionary basis based
on gross asset value for the Funds including uncalled but committed capital (RAUM). GID does not
manage any RAUM on a non-discretionary basis.