Our project site has excellent access to retail and employment centers and is also convenient to downtown Tampa.
Orlando - Tampa, Florida (PRWEB) December 19, 2016
ZOM Florida, in partnership with affiliates of The Mattoni Group and New York-based Clarion Partners, LLC on behalf of a commingled fund managed by the firm, recently broke ground on AZOLA AT MAGNOLIA PARK, a 366-unit multifamily apartment community located on Progress Boulevard near the Interstate 75/Highway 301 interchange and South Falkenburg Road. This expanding south Brandon/Riverview submarket is home to a growing number of corporate employers, such as Progressive Insurance, Spectrum (formerly Brighthouse), and USAA, which is bringing over 1200 new jobs to the area. An array of retail and entertainment venues is anchored by the nearby Westfield Brandon Mall and has attracted new merchants such as Bass Pro Shop and Top Golf.
"We are excited to partner again with Clarion Partners on a Florida project and start a new capital partner relationship with The Mattoni Group,” said Kyle Clayton, ZOM Florida’s Development Vice President. “Our project site has excellent access to retail and employment centers and is also convenient to downtown Tampa via the Selmon Crosstown Expressway. Azola will bring a new level of quality, unit features and amenities to this desirable suburban neighborhood.”
Mattoni Group’s President Ricardo Caporal added, “We are very bullish on the Tampa market. This is our second development venture here. ZOM will deliver a first class project, and we are excited to be partnering with both ZOM and Clarion Partners.”
Azola is expected to deliver first units in Q4 2017, with pre-leasing starting in late summer 2017. Construction financing was provided by the Orlando office of Synovus Bank.
ZOM is one of the most highly regarded luxury multifamily developers in the United States, and has joint ventured or directly developed over 16,500 apartment units nationwide, with an aggregate value in excess of $3 Billion. Throughout its 39-year history, ZOM has garnered more than 125 industry awards for project design and development expertise, including the prestigious National Multifamily Development Firm of the Year award. ZOM is headquartered in Orlando and has regional development offices in South Florida, Texas, Washington D.C. and the Carolinas. ZOM has 6,830 units currently under construction or in design/predevelopment throughout the U.S. with a total capitalization of $1.85 Billion. For more information on ZOM’s multifamily portfolio, visit http://www.zomusa.com.
About Mattoni Group:
Founded in 2009, Mattoni Group is a private equity real estate investment firm that specializes in placing equity and debt with experienced operating and development partners working on transformative projects. The firm has built a national reputation for transparency, reliability, flexibility, and velocity in acquiring and financing real assets. Mattoni Group exists to be the bridge between best in class managers/operators and investor capital. We leverage our network, relationships, creativity and education to create amazing spaces for people to live better lives. Mattoni Group is focused on adding value to its acquisitions through operational improvements and optimized capital structures. The firm continues to develop and expand its network of real estate partnerships and prides itself on closing committed transactions. We remain prudent in our investment philosophy and are prepared to place capital in any phase of the market cycle. Our current portfolio and realized investments consist of a diversified mix of real estate assets including multi-family, office, retail, industrial, and specialty product types. Mattoni Group focuses on risk-adjusted investments with an eye on capital preservation. Our unique platform enables us to evaluate special situations and deliver rapid responses to operating partners and investors alike.
About Clarion Partners:
Clarion Partners, an SEC registered investment adviser, FCA authorized manager and FINRA member firm, has been a leading U.S. real estate investment manager for more than 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC. With more than $43.1 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at