WEST PALM BEACH, FL-Altman Development Corp., a Boca Raton, FL-based luxury apartment developer and manager, sold the Reserve at Ibis apartment community here to AMLI Residential Properties for an undisclosed price. The class AA resort-style community is the Georgia-based REIT’s first purchase in South Florida.The Reserve at Ibis, developed in 2001, consists of 234 units in 13 two- and three-story garden-style buildings. The Loxahatchee Nature Preserve and the Ibis Golf & Country Club border the property. Community amenities include a multipurpose club room with billiards, a resort-style pool and a spa with fountains, and a health club.The community has eight floor plans with an average unit size of 1,021 sf. The units feature 9-ft ceilings, gourmet kitchens, garden bathtubs, private screened balconies, walk-in closets, full-size washers and dryers, crown molding and wood trim.Jay H. Massirman, executive vice president with CB Richard Ellis, and Robert Given, vice president with LJ Melody & Co., advised the developer, Altman Development Corp., on the sale.

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