Luzano Apartments in Pompano Beach changes hands for $94.1m

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.”