Luzano Apartments in Pompano Beach changes hands for $94.1m

Luzano Apartments in Pompano Beach changes hands for $94.1m

Published at: 2018-11-02 14:04 | Author: CIJ USA
Praedium Group acquired Luzano Apartments in Pompano Beach, Florida, for $94.1m. The seller, ZOM Living, completed the 404-unit apartment scheme in 2017. The property features 19 three-story apartment buildings. Common amenities include a fitness center, clubhouse, dog park, central lake, walking trails and controlled access gates. The deal was financed with a $61.6m loan from New York Life Insurance Company. “As evidenced by adjacent new developments, the property’s surrounding location is going through a transformation,” said Lindsay Schuckman of The Praedium Group. “Luzano sits in an opportunity zone, which should encourage further redevelopment in the area.”

Similar Stories:

WinnCompanies picks up affordable housing asset in Peabody, MA
The Tannery, a 284-unit affordable housing community in Peabody, Mass. has been sold to Wi  »
Sam Zell named senior VP at CBRE in Philly
CBRE has hired Sam Zell as a senior vice president for the firm's Philadelphia office  »
Walker & Dunlop names Sean Williams Senior VP
Sean Williams has joined Walker & Dunlop as Senior Vice President and Managing Directo  »
Grunow Group secures $74.5m for Residence Club at Ocean Reef
The Grunow Group secured a $74.5m construction loan for the Residence Club at Ocean Reef,  »
Hurricane Hermine had the entire state of Florida on the edge of its seat in September. It   »
South Florida’s condo market is readying for a soft landing rather than the crash that m   »
There are approximately 17,000 units in Miami in presale, sold or under construction. Abou   »
The same year Orange County builders pulled 11,000. Fast forward to 2010 and those numbers   »