Zom Living, partners score $57M loan for Ludlam Trail project

First phase will have 338 apartments, retail space

Miami /
May.May 04, 2020 02:30 PM
Rendering of the project and from left: Vince Signorello, Ricardo Caporal and Greg West

Rendering of the project and from left: Vince Signorello, Ricardo Caporal and Greg West

Zom Living and its partners closed on a $57.3 million construction loan for the first phase of their Ludlam Trail project in Miami-Dade County.

Property records show Ludlam Trail Phase I LLC secured the loan from Santander Bank at the end of April, amid the pandemic. Orlando-based Zom, a multifamily developer, is partnering with Scout Capital and Mattoni Group on the three-phased mixed-use development at Ludlam, just south of Bird Road.

The developers plan to build 950 apartments and up to 35,000 square feet of retail space. The first phase will have 338 apartments and about one-third of the retail space. It’s expected to be delivered in early 2022, said Greg West, CEO of Zom Living, in a statement.

The county is also planning to build a park at Ludlam Trail and Bird Road.

Florida East Coast Industries, which Signorello previously led as CEO, sold the land to the partnership last year for $36 million.

The Miami-Dade County Commission approved zoning for commercial and residential developments at major intersections along the six-mile Ludlam Trail in early 2019. The trail runs from Miami International Airport south to Dadeland Station.


Related Articles

arrow_forward_ios
Astor Companies founder Henry Torres and a rendering of the Douglas Enclave (The Astor Companies)
Astor Companies scores $32M construction loan for Miami apartments
Astor Companies scores $32M construction loan for Miami apartments
Terra’s David Martin and renderings of the project (Terra, iStock)
Terra scores $65M loan for Northwest Miami-Dade project
Terra scores $65M loan for Northwest Miami-Dade project
Jeffrey Soffer and a rendering of SeaGlass Jupiter Island (Getty)
Fontainebleau Development scores loan for boutique Jupiter Island condo project
Fontainebleau Development scores loan for boutique Jupiter Island condo project
David Martin and Russell Galbut with a rendering of 500 Alton Road
Miami Beach developers nab $345M construction loan for 500 Alton
Miami Beach developers nab $345M construction loan for 500 Alton
Jorge Perez and Jon Paul Perez and a rendering of the project (Getty, Quantum Space Studio)
Related scores $95M loan for two-tower luxury rental project in West Palm
Related scores $95M loan for two-tower luxury rental project in West Palm
Gustavo Miculitzki, Laurent Morali and Charles Kushner with a rendering of their Wynwood project
Kushner starts construction on first South Florida development, scores $80M loan
Kushner starts construction on first South Florida development, scores $80M loan
Yair Levy and a rendering of the project
Downtown Miami jewelry center scores construction loan
Downtown Miami jewelry center scores construction loan
Great Gulf CEO Ilias Konstantopoulos with a rendering of the development at 1515 South Flagler Drive (Great Gulf)
La Clara condo project in WPB scores $110M construction loan
La Clara condo project in WPB scores $110M construction loan
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...