A. Describe your advisory firm, including how long you have been in business. Identify your principal
owner(s).
The Company is a newly formed advisory entity created in 2023. The Company, including its affiliates,
(which are collectively referred to as “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, the Company’s affiliated entities have invested in real estate exclusively for its own account.
Since 2003, the Company’s affiliated entities have provided investment and management services to
pooled investment vehicles and other 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. The Company is indirectly owned and
ultimately controlled by voting trusts of the Wallace family. Relying adviser GIIM’s sole member, GID
Industrial Advisers LLC, has accepted a minority interest from a third party as further described in Items
8 and 10 below.
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.
The Company provides investment management services consisting of portfolio management and
investment management services to pooled investment vehicles, (each, a “Fund” and, together with any
future private investment fund to which the Company and/or its affiliates provide investment advisory
services, the “Funds”). Each Fund is managed by a general partner that is affiliated with the Company
(each, a “General Partner” and collectively, together with any future affiliated general partner entities,
the “General Partners”) with authority to make investment decisions on behalf of its respective Fund.
The applicable General Partner retains investment discretion and investors in the Funds do not
participate in the control or management of the Funds. While the General Partners maintain ultimate
authority over the respective Funds, the Company has been designated the role of investment adviser.
Each General Partner is subject to the Advisers Act pursuant to the Company’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 the Company.
GID currently owns, and is permitted to own in the future, investments through a proprietary account to
which an affiliate of the Company provides services. Affiliates of the Company serve and intend in the
future to 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 proprietary accounts and
joint ventures are not securities and thus are not categorized as a Fund, are not included in Regulatory
Assets under Management (“RAUM”) or reported in dollars in custody and are not considered “clients”
herein and in the ADV Part 1.
GID has in the past and intends in the future to raise, sponsor, manage, otherwise provide discretionary
investment management and/or advisory services to, or source investments for other funds, investment
vehicles, separately managed account arrangements, special purpose vehicles, co-investors and co-
investment vehicles. These, together with the above mentioned proprietary accounts and joint
ventures, are each referred to throughout this ADV as an “Other GID Account”.
GID’s experience spans multiple real estate asset classes, including multifamily, condominiums, retail,
commercial, industrial and mixed-use development. The Company’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. The Company generally manages the day-to-day
operations of these real estate projects through wholly owned affiliates which maintain an active
oversight of each project, including retaining decision rights, subject to the limitations of each
investment’s Governing Documents (as defined immediately below). The Company’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 in Item 8 under “Methods of Analysis, Investment Strategies and Risk of Loss.” These services
generally include identifying and evaluating investment opportunities, negotiating the terms of
investments, managing and monitoring investments and achieving dispositions of such investments.
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.
The Company’s investment advice and authority for each Fund is tailored to the investment objectives
of that Fund; the Company does not tailor its advisory services to the individual needs of investors in its
Funds. Investors in the Funds participate in the overall investment program for the Fund and the
Company is not required to, and does not, seek investor approval regarding each investment decision.
Fund investors generally cannot impose restrictions on investing in certain securities or types of
securities. However, in accordance with common industry practice, the Company and/or its affiliates
have entered, and expect 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 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 a Fund’s advisory
committee, and liquidity or transfer rights. Some side letters relate to strategic relationships under
which an investor agrees to make commitments to multiple Funds. These rights, benefits or privileges
are not always made available to all investors, consistent with the Governing Documents and general
market practice. Commencing in September 2024, the Company will make required disclosure of certain
side letters to all investors (and in certain cases, to prospective investors) in accordance with the new
Private Fund Rule. Side letters are negotiated at the time of the relevant investor’s capital commitment,
and once invested in a Fund, investors generally cannot impose additional investment guidelines or
restrictions on such Fund. There can be no assurance that the side letter rights granted to one or more
investors will not in certain cases disadvantage other investors.
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.
The Company 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, 2023, the Company managed $3,815,911,769 in regulatory assets under
management on a discretionary basis. The Company does not manage any Fund assets on a non-
discretionary basis.