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
Alta principals Seth Wise and Joel Altman and rendering of Altra Kendall at 9501 Southwest 137th Avenue (Altman)
Altman scores $75M construction loan for Kendall multifamily project
Altman scores $75M construction loan for Kendall multifamily project
Royal Palm's Dan Kodsi with Elevate Apartments (LinkedIn, Royal Palm Companies)
Kodsi’s Royal Palm scores $77M construction loan for Dania Beach project
Kodsi’s Royal Palm scores $77M construction loan for Dania Beach project
Chetrit Group’s Joseph Chetrit and Collins Park Hotel rendering (Getty, Chetrit Group)
Chetrit nabs $83M construction loan for Collins Park project
Chetrit nabs $83M construction loan for Collins Park project
Aria's David Arditi with rendering of 501 Residences (Aria Development Group, Getty)
Aria JV scores $81M construction loan for downtown Miami condo project
Aria JV scores $81M construction loan for downtown Miami condo project
Cymbal’s Asi Cymbal and Hector Torres with rendering of Riverwalk Raintree Residences (LinkedIn, Cymbal DLT, Getty)
Cymbal DLT lands $31M construction loan for Fort Lauderdale apartment towers
Cymbal DLT lands $31M construction loan for Fort Lauderdale apartment towers
(Illustration by The Real Deal with Getty)
Insured losses from Hurricane Ian could reach $40B
Insured losses from Hurricane Ian could reach $40B
Matthew Baron and Alirio Torrealba
MG Developer, partner score $148M loan for Hialeah apartments
MG Developer, partner score $148M loan for Hialeah apartments
Lissette Calderon with rendering of Fourteen Residences Allapattah (LinkedIn, Neology Development Group)
Lissette Calderon’s third Allapattah project scores $58M loan
Lissette Calderon’s third Allapattah project scores $58M 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...