Fort Lauderdale - Miami, Florida (PRWEB) April 07, 2014
ZOM, a leading luxury multifamily real estate developer, recently closed on a land and air rights parcel within the Met 3 mixed use project and simultaneously commenced construction on Montage at Met 3. Montage will feature 462 apartment homes in an iconic 32-story luxury tower, which is being constructed over a ground-level Whole Foods grocery and 12 levels of structured podium parking. Met 3 is located at the NE corner of SE 2nd Avenue and SE 3rd Street in the heart of Downtown Miami and is walking distance to the Metromover. The project is a joint venture with an investor account advised by the U.S. real estate business of UBS Global Asset Management.
“The Met 3 site is an outstanding location and surrounded by employment, restaurants, nightlife and public transportation,” said Greg West, ZOM’s Chief Development Officer. “The demographic characteristics of the immediate area, with the presence of over 89,000 jobs within a 3-mile radius, plus an upscale Whole Foods in our building, create a compelling case for the success of the Montage apartment project.”
Reshaping the Miami skyline, Montage at Met 3 will feature efficient and well-appointed units in a variety of spacious, functional floor plans ranging from 680 to 1,450 square feet. The main amenity level on the 13th floor features a spacious open lounge area, fitness club-quality exercise center, spa with treatment rooms, screening room with theater-quality sound, as well as a landscaped deck surrounding a resort-style pool, yoga lawn, bocce ball court, outdoor grill and kitchen and two outdoor bars. This unique amenity level is intended to foster interaction among residents and provide a variety of social settings and activities without having to leave the community.
Montage will be the only professionally managed highrise rental development in the downtown market. Property management services will be provided by ZRS Management. LLC. Suffolk Construction is the general contractor. Broad and Cassel represented ZOM in this transaction and Stearns Weaver represented the seller. Pre-leasing will commence in Q4 2015.
ZOM is one of the most highly regarded luxury multifamily developers in the United States, and has joint ventured or directly developed over 13,200 apartment units nationwide, with an aggregate value in excess of $2.25 billion. Throughout its 30 year history, ZOM has garnered more than 100 industry awards including recognition for project design and development expertise. ZOM was awarded the highly coveted Pillars of the Industry award by the National Association of Homebuilders for developing the “Best Garden Apartment Community” in 2010. ZOM is headquartered in Orlando and has regional development offices in Fort Lauderdale, Dallas, and Washington D.C. ZOM currently has over 3,600 units in development. For more information on ZOM’s multifamily portfolio, visit http://www.zomusa.com.
UBS Global Asset Management, Global Real Estate - US provides a comprehensive range of real estate investment advisory services in a variety of direct investment structures and commingled vehicles. As of December 31, 2013, the firm manages approximately USD 22.4 billion of total assets on behalf of over 500, primarily US clients, in core, core-plus, value-added and participating mortgage strategies. These strategies are implemented through open-end, closed-end, and individual discretionary client vehicles and a handful of non-discretionary accounts. It is headquartered in Hartford, CT with regional offices in Dallas, TX and San Francisco, CA. In October 2013, Pensions & Investments magazine ranked UBS Global Real Estate - US as the 4th largest manager of US institutional, tax-exempt real estate assets.
Additional photos available upon request.
For further information:
Chief Development Officer
ZOM Holding, Inc.
200 E. Broward Boulevard, Suite 1200
Fort Lauderdale, FL 33301
ZOM Holding, Inc.
2001 Summit Park Drive, Suite 300
Orlando, FL 32810