ZOM Announces 404-unit Master Planned Residential Community in Pompano Beach Florida

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Just minutes from the Atlantic Ocean, ZOM will start construction on The Residences at Palm Aire luxury rental apartment homes on a 27-acre high visibility site that was formerly a golf course at the intersection of West Atlantic Boulevard and Florida’s Turnpike

The open space within the site and scale of the buildings achieves a neighborhood feel unlike other rental communities in the Pompano Beach market.

ZOM, a leading luxury multifamily real estate developer, will commence construction in March on The Residences at Palm Aire, a 404-unit luxury residential apartment community in the city of Pompano Beach, Florida. Centrally located on Atlantic Boulevard in Broward County, the project site is adjacent to Florida’s Turnpike, providing easy access to several major south Florida employment centers. Building design elements are reminiscent of the timeless architectural styling of George Merrick, who designed much of the Coral Gables area. The project is a joint venture with an investor account advised by the U.S. real estate business of UBS Global Asset Management. Construction financing is provided by PNC Bank.

The Residences at Palm Aire will feature spacious apartment homes housed in 19 three-story buildings with two-story end sections in select buildings. Spacious three bedroom units feature direct access, two-car garages and additional single garages throughout provide breezeway access to living units. Floor plans range from 655 to 1,545 square feet. Interior unit finishes will be a cut above the market featuring well-appointed island kitchens, granite countertops, contemporary cabinets, stylish flooring, walk-in closets and private patios. The large community center will feature a membership-quality fitness center, e-lounge and resort-style pool.

“This new generation product has been very well received at our newest rental community, Casa Palma, which opened in March 2014 in nearby Coconut Creek,” said Greg West, ZOM’s Chief Development Officer. “The open space within the site and scale of the buildings achieves a neighborhood feel unlike other rental communities in the Pompano Beach market.”

The changing elevations within the site will include multiple water features and green spaces throughout, creating an ambiance and sense of tranquility seldom found in a rental community of this scale. The Palm Aire clubhouse will be perched on a commanding elevation at the entrance to the community. Residents will also enjoy proximity to a variety of shopping, employment and entertainment venues.

ZRS Management, LLC will provide property management. Pre-leasing will begin in early 2016.

About ZOM:
ZOM is one of the most highly regarded luxury multifamily developers in the United States, and has joint ventured or directly developed over 15,000 apartment units nationwide, with an aggregate value in excess of $2.3 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 South Florida, Dallas, and Washington D.C. ZOM currently has an additional 4,800 units currently under construction or in design/predevelopment. For more information on ZOM’s multifamily portfolio, visit http://www.zomusa.com.

About UBS:
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, 2014, the firm manages approximately USD 25.2 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 2014, Pensions & Investments magazine ranked UBS Global Real Estate - US as the 4th largest manager of US institutional, tax-exempt real estate assets.

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Beth Alonzo
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