WELLINGTON, Fla.--(BUSINESS WIRE)--ZOM Senior Living, Liberty Senior Living, and funds managed by an affiliate of Ares Management Corporation (NYSE: ARES), have recently closed on construction financing for the development of a 46-acre lakefront parcel, adjacent to The Mall at Wellington Green. The expansive site is in Western Palm Beach County, one of the most affluent regions in the U.S. Construction of Phase 1 is expected to begin immediately and will include 283 premier independent living, assisted living and memory care units. The centerpiece of the community is a two-story, 65,000-square-foot clubhouse and amenity building, replete with multiple dining venues, indoor and outdoor swimming pools, membership-grade spa, salon and wellness center, billiards and cards room, and a theater, to name a few. The Class A senior living rental community will offer luxury rental housing in a variety of formats, including single-story villas (with attached garages), three-story garden flats, and residences within a six-story building, attached directly to the main amenity building. At full build-out, the project is anticipated to include 424 units.
We are excited to partner with Liberty Healthcare and Ares Management on this, our first ZOM Senior Living rental community, said Greg West, CEO of ZOM Living. We formed ZOM Senior Living to capitalize on this growing segment of the renter pool, and we plan to offer the same thoughtfully designed living spaces, amenities, and broad array of services to our senior residents, as we provide in our traditional market rate rental communities. We join forces with a seasoned senior housing operating partner, which perfectly complements ZOMs experience in luxury multifamily housing.
Liberty Senior Living is a subsidiary of North Carolina-based Liberty Healthcare, a 144-year old family-owned company with a wealth of experience delivering healthcare and residential services in the growing senior housing segment.
This is our first project in Florida and we are excited to partner with ZOM, said Will Purvis, Chief Development Officer of Liberty Healthcare. The large size of the Wellington site gives us the opportunity to create a unique resort style seniors community, in close proximity to well-established retail shops and dining venues. We have the ability to create a number of different residential formats and levels of healthcare services, and to maintain significant green space for the enjoyment of all of our residents.
Ares has a long track record of developing core-quality real estate in major U.S. markets, said Andrew Holm, Partner in the Ares Real Estate Group. With top tier management, unrivaled amenities, high-quality and varied housing options, and a great location in Palm Beach County, this project is a prime example of what we look for in a development opportunity. We look forward to building upon a strong relationship with ZOM and Liberty, who have designed a great property.
This project represents a huge milestone for our entre into the senior living space, said Brett Gelsomino, Vice President of ZOM Senior Living. Wellington Bay is our first senior living project to break ground, within our growing national pipeline. We have enjoyed working with the Village of Wellington and their staff. We look forward to getting underway, and contributing positively to the community by providing high-quality housing for our senior citizens.
LS3P Architects (Wilmington) and MSA Architects (Miami) provided project design and architectural services, and RD Jones provided interior design services. Balfour Beatty and Kaufman Lynn are providing construction services. Construction financing was co-arranged by SunTrust Bank and PNC Bank, NA, with Comerica Bank as a participating lender.
About ZOM Living
ZOM Living is one of the most highly regarded luxury multifamily developers in the United States, and has joint ventured or directly developed nearly 20,000 apartment units nationwide, with an aggregate value of over $4 Billion. Throughout its 42-year history, ZOM has garnered more than 160 industry awards for project design and development expertise, including the prestigious National Multifamily Development Firm of the Year award and garnering two national Pillar Awards from the (NAHB) National Association of Home Builders, for Best Low-Rise Project (Baldwin Harbor/Orlando) and Best High-Rise (Monarc at Met3/Miami).
ZOM Living is headquartered in Orlando and has regional development offices in South Florida, Dallas, Washington D.C., Chicago and Raleigh. ZOM has 6,000 units currently under construction or in design/predevelopment throughout the U.S., with a total capitalization of $1.6 Billion. For more information on ZOMs business activities and development portfolio, visit http://www.zomliving.com.
About Liberty Senior Living
The Liberty Group is a family-owned and operated company with a strong commitment to Caring with Excellence. Since 1875, the McNeill family has developed and operated health care services in the Southeast. Liberty Senior Living oversees all Independent Living and Assisted Living operations outside of their skilled nursing facilities. Based in Wilmington, North Carolina, Liberty is currently developing new projects in Cary (Raleigh), and in Charlotte, North Carolina, and in Mt. Pleasant (Charleston), South Carolina. For more information, visit http://www.libertyseniorliving.com
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is leading global alternative investment manager operating three integrated businesses across Credit, Private Equity and Real Estate. Ares Managements investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Managements global platform had $142 billion of assets under management as of June 30, 2019 and employs more than 1,000 employees in over 20 offices across four continents. Please visit http://www.aresmgmt.com for additional information.
Ares Real Estate Group manages comprehensive public and private equity and debt strategies, with approximately $11.9 billion of assets under management as of June 30, 2019.
More:
- Information Overload - November 8th, 2009 [November 8th, 2009]
- Same-Sex Marriage Gains - Iowa, DC and Vermont - November 8th, 2009 [November 8th, 2009]
- Obama and the Muslim World - November 8th, 2009 [November 8th, 2009]
- Nordyke - Incorporation of the Second Amendment to Apply to the States - November 8th, 2009 [November 8th, 2009]
- Obama's First 100 Days - Reclaiming the Constitution* - November 8th, 2009 [November 8th, 2009]
- Education Reform - November 8th, 2009 [November 8th, 2009]
- Legalize (and Tax) Vice - November 8th, 2009 [November 8th, 2009]
- Obama World vs. Cheney World - November 8th, 2009 [November 8th, 2009]
- National Rifle Association v. Chicago (McDonald v. Chicago) Oral Arguments* - November 8th, 2009 [November 8th, 2009]
- Reconciling Liberty and Progressive Government - November 8th, 2009 [November 8th, 2009]
- Obama in the Middle East - A Respectful, Rational Voice - November 8th, 2009 [November 8th, 2009]
- Second Amendment Incorporation Update - Seventh Circuit Decision - November 8th, 2009 [November 8th, 2009]
- Strong versus Weak Judging - November 8th, 2009 [November 8th, 2009]
- Drawing the Line on the Obama Administration's National Security Practices - November 8th, 2009 [November 8th, 2009]
- Supreme Court Amicus Brief in McDonald v. Chicago - November 8th, 2009 [November 8th, 2009]
- McDonald v. Chicago Amicus Brief - Volokh Conspiracy Link - November 8th, 2009 [November 8th, 2009]
- Healthcare Reform - Voices of Reason from Senators Wyden & Bennett - November 8th, 2009 [November 8th, 2009]
- Time to Legalize Drugs - Sensible WaPo Article - November 8th, 2009 [November 8th, 2009]
- Article in William & Mary Bill of Rights Journal: Rescuing the Fourteenth Amendment Privileges or Immunities Clause - November 8th, 2009 [November 8th, 2009]
- Just Do It - Obama Needs Backbone for Meaningful Healthcare Reform, a la FDR - November 8th, 2009 [November 8th, 2009]
- Nordyke v. King Rehearing - November 8th, 2009 [November 8th, 2009]
- Huge News - Supreme Court Grants Certiorari in McDonald v. Chicago re: Privileges or Immunities - November 8th, 2009 [November 8th, 2009]
- Obama Needs to Take Stands on Principle - November 8th, 2009 [November 8th, 2009]
- Kudos to Harry Reid for Including Public Option in Proposed Health Care Bill - November 8th, 2009 [November 8th, 2009]
- Free Radicals - Individual Efforts Can Change the World - November 8th, 2009 [November 8th, 2009]
- - November 8th, 2009 [November 8th, 2009]
- Destroy the Filibuster - December 13th, 2009 [December 13th, 2009]
- McDonald v. Chicago - Petitioner's Brief - December 13th, 2009 [December 13th, 2009]
- Something on Which We Can All Agree - Less Government in Criminal Justice - December 13th, 2009 [December 13th, 2009]
- Obama Approach to Governing; Afghanistan Policy - December 13th, 2009 [December 13th, 2009]
- McDonald v. Chicago - Law Professors' Amicus Brief - December 15th, 2009 [December 15th, 2009]
- Senate Passes Health Care Insurance Reform - Reflections - December 25th, 2009 [December 25th, 2009]
- "Radicals In Their Own TIme" - Introduction & Selected Excerpts - January 1st, 2010 [January 1st, 2010]
- Terrific WaPo Farewell Column by Ellen Goodman - January 2nd, 2010 [January 2nd, 2010]
- Same-Sex Marriage Case in California - January 20th, 2010 [January 20th, 2010]
- Health Care; Corporate Speech Case - January 23rd, 2010 [January 23rd, 2010]
- McDonald v. Chicago - Essay in Cardozo Law Review de novo Online Journal - January 29th, 2010 [January 29th, 2010]
- Another Response to Citizens United: Remove Supreme Court Appellate Jurisdiction - February 11th, 2010 [February 11th, 2010]
- Olympics Idealism - March 1st, 2010 [March 1st, 2010]
- Framers Believed in Virtuous (ie, Humane) Government - March 21st, 2010 [March 21st, 2010]
- McDonald v. Chicago - Yesterday's Oral Argument - March 22nd, 2010 [March 22nd, 2010]
- Radicals in Their Own Time: Four Hundred Years of Struggle for Liberty and Equal Justice in America - May 21st, 2010 [May 21st, 2010]
- McDonald v. Chicago decision - October 11th, 2010 [October 11th, 2010]
- OpEd on McDonald v Chicago Case - June/July 2010 - October 11th, 2010 [October 11th, 2010]
- New Blog Format - October 11th, 2010 [October 11th, 2010]
- New Book - Radicals in Their Own Time - February 14th, 2011 [February 14th, 2011]
- Liberty Property Trust Hosts First Quarter 2012 Results Conference Call - March 31st, 2012 [March 31st, 2012]
- Liberty Property Trust Announces First Quarter 2012 Results - April 25th, 2012 [April 25th, 2012]
- Liberty Energy Announces Creation of Advisory Board and Appointment of Its First Member - April 25th, 2012 [April 25th, 2012]
- Liberty Tire Recycling, Keep Atlanta Beautiful and City of Atlanta Tire Commission Join Forces for Large-Scale Tire ... - April 25th, 2012 [April 25th, 2012]
- Liberty Bowl set for afternoon kick New Year's Eve - April 25th, 2012 [April 25th, 2012]
- Liberty Bowl Announces Date and Time - April 25th, 2012 [April 25th, 2012]
- Liberty ship sinking remembered - April 25th, 2012 [April 25th, 2012]
- Liberty Union searching for girls basketball coach - April 25th, 2012 [April 25th, 2012]
- How to Do a Liberty - Video - April 30th, 2012 [April 30th, 2012]
- Review: The "Liberty I" Ultra Compact Compound Bow vs. "Razor Edge" and "Slingbow" - Video - April 30th, 2012 [April 30th, 2012]
- Heavy Rain in Liberty City: Episode 1 (Grand Theft Auto IV Machinima) - Video - April 30th, 2012 [April 30th, 2012]
- Jordan Page "Liberty" (Acoustic Version) - Video - April 30th, 2012 [April 30th, 2012]
- StarCraft II: Wings of Liberty - Cinematic Trailer - Video - April 30th, 2012 [April 30th, 2012]
- China 9 Liberty 37 - Video - April 30th, 2012 [April 30th, 2012]
- Liberty`s Kids: #05 "Midnight Ride" (1/2) - Video - April 30th, 2012 [April 30th, 2012]
- Madness - The Liberty of Norton Folgate Live - Video - April 30th, 2012 [April 30th, 2012]
- I Pledge to Join Young Americans for Liberty - Video - April 30th, 2012 [April 30th, 2012]
- Steve Vai - Liberty - Video - April 30th, 2012 [April 30th, 2012]
- North Liberty fire chief: Email blasting staff was meant to motivate - May 4th, 2012 [May 4th, 2012]
- FCC dismisses Liberty Media request for control of SiriusXM - May 5th, 2012 [May 5th, 2012]
- Liberty FCC Request to Control Sirius XM Radio Rejected - May 5th, 2012 [May 5th, 2012]
- FCC rejects Liberty Media bid for Sirius XM control - May 7th, 2012 [May 7th, 2012]
- Liberty Rocket Targets 2015 - May 10th, 2012 [May 10th, 2012]
- Liberty boosts SiriusXM stake above 45% - May 10th, 2012 [May 10th, 2012]
- One Liberty Properties, Inc. Reports First Quarter 2012 Results - May 10th, 2012 [May 10th, 2012]
- Liberty to boost stake in Sirius XM to 45 pct - May 10th, 2012 [May 10th, 2012]
- ATK Announces Complete Liberty System to Provide Commercial Crew Access - May 10th, 2012 [May 10th, 2012]
- Penn Liberty Wealth Advisors Expands - May 10th, 2012 [May 10th, 2012]
- Romney Woos Evangelicals at Liberty University - May 13th, 2012 [May 13th, 2012]
- Liberty opener moved to MSG due to hockey game - May 13th, 2012 [May 13th, 2012]
- Romney Defends Marriage and Faith in Liberty University Speech - May 13th, 2012 [May 13th, 2012]
- Romney Speaks At Anti-Gay Liberty University Alongside Baptist Billionaire - May 13th, 2012 [May 13th, 2012]
- Liberty Center girls, Archbold boys reign - May 13th, 2012 [May 13th, 2012]
- Romney Courts Christian Conservatives at Liberty U - May 13th, 2012 [May 13th, 2012]