DALLAS, TX - ZOM Living has secured a $109 million refinancing for Atelier Dallas situated at the entrance to the Dallas Arts District. The residential tower consists of 10 penthouses, 53 loft-style and 364 high-rise units, ranging from approximately 500 to 2,300 square feet, complete with panoramic views of Klyde Warren Park, Uptown, and Downtown Dallas.
“This refinancing underscores the strength of the Texas market, which is experiencing a surge in housing demand and leads the nation in multifamily development activity,” said Matthew Adler, Chief Investment Officer at ZOM Living. "Our ability to secure favorable financing for Atelier amidst a challenging economic environment speaks to the high-quality of this asset and the trajectory of ZOM Living as a leading housing developer in the country.”
Situated at the footsteps of the globally recognized Dallas Arts District, ZOM Living’s Atelier tower broke ground in 2018 and was designed by leading global design and architecture firm Stantec. Atelier’s lobby is programed to emulate an art gallery with local organizations showcasing rotating public art installations and events on site. The property also boasts 15,000 square feet of prime retail space located at the ground level that has been leased to notable dining, arts and entertainment concepts and two levels of underground public parking.
Recognized as a defining feature in the Dallas skyline, the award-winning residential tower is about 93% leased and features resort-style amenities, including an infinity edge pool and sun deck, custom cabanas, yoga lawn, outdoor lounge with grilling area for al fresco dining, a bar, and fire pit. The interior amenities include a membership quality fitness center, coworking space with private conference rooms, private wine lockers, entertainment lounge, catering kitchen with harvest table, grab-n-go resident market, and pet spa. The property is walking distance to numerous cultural venues including the AT&T Performing Arts Center, the Dallas Museum of Art, the Crow Museum of Asian Art and the Nasher Sculpture Center.
ZOM Living continues to expand its footprint in the Texas market, where it has had an active presence for the past 20 years and has delivered over a dozen residential projects across the state. The company’s portfolio of developments in Texas includes the recently sold Mezzo Dallas, a 378-unit residential community in the thriving northern suburbs of Dallas; Azola Avery Centre, a 359-unit, garden-style multifamily apartment community underway in Round Rock, a suburb of Austin; and Hazel by the Galleria in Uptown Dallas, which features 398 luxury apartments and sits directly across from the major shopping mall Galleria Dallas.
About ZOM Living: ZOM Living is one of the most highly regarded luxury multifamily developers in the United States and has developed over 24,000 apartment units nationwide, with an aggregate value of nearly $5 billion. Most recently, the company has established a seniors housing division, with three seniors housing developments completed in South Florida. Throughout its 45-year history, ZOM has garnered more than 200 industry awards for project design and development expertise, including the prestigious Best Development Company of the Year by Multi-Housing News and ranked among the Top 25 Developers in the U.S. by the National Multifamily Housing Council. ZOM has offices across many of the markets it serves, including South Florida, Orlando, Dallas, Washington, D.C., Phoenix and Raleigh. ZOM has over 8,600 units currently under construction or in design and predevelopment throughout the U.S., with a total capitalization of nearly $3 billion. For more information on ZOM’s portfolio, visit www.zomliving.com