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
Jorge Perez and Jon Paul Perez with a rendering of Solemar (Related)
Related scores $91M construction loan for luxury condo tower in Pompano Beach
Related scores $91M construction loan for luxury condo tower in Pompano Beach
Developers of Society Wynwood mixed-use project scores $142M construction loan
Developers of Society Wynwood mixed-use project score $142M construction loan
Developers of Society Wynwood mixed-use project score $142M construction loan
Todd Michael Glaser with renderings of the project (Aztec Group)
Developers of Little Havana mixed-use project score $27M construction loan
Developers of Little Havana mixed-use project score $27M construction loan
Aimco CEO Wes Powell and Laurent Morali, Charlie Kushner and Nicole Kushner Meyer of Kusher (LinkedIn via Powell, Kushner, Luarent Morali)
Aimco partners on Kushner’s $700M project, scores two big loans in South Florida
Aimco partners on Kushner’s $700M project, scores two big loans in South Florida
Davie student housing complex scores $62M refi, construction loan
Davie student housing complex scores $62M refi, construction loan
Davie student housing complex scores $62M refi, construction loan
A rendering of Wynwood Haus
Wynwood Haus apartment tower in an Opportunity Zone scores $38M construction loan
Wynwood Haus apartment tower in an Opportunity Zone scores $38M construction loan
Joseph Chetrit and a rendering of the Collins Park project (Getty, Kobi Karp)
Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
Chetrit scores $63M construction loan for long-planned Collins Park hotel in Miami Beach
Cain International's Jonathan Goldstein, OKO Group's Vlad Doronin and the Brickell condo renderings. (Getty, OKO Group & Cain International)
Billionaire Vlad Doronin, partner score $128M construction loan for Brickell condo tower
Billionaire Vlad Doronin, partner score $128M construction loan for Brickell condo tower
arrow_forward_ios

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

Loading...