ZOM Senior Living, in a venture with Liberty Senior Living and funds managed by Ares Management Corporation’s Real Estate Group, announces groundbreaking on Wellington Bay, a $180 million multi-phase mixed-use senior housing rental community

2019 OCT 28 (NewsRx) -- By a News Reporter-Staff News Editor at Daily Real Estate News -- 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 senior’s 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 entree 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 ZOM’s business activities and development portfolio, visit 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 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 Management’s investment groups collaborate to deliver innovative investment solutions and consistent and attractive investment returns for fund investors throughout market cycles. Ares Management’s 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 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20191016005119/en/

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