PHOENIX — ZOM Living has secured financing for the development of Azola Desert Ridge, a 416-unit community in Phoenix. The funding includes $88 million in construction financing, as well as a joint venture equity investment from Origin Investments.
Azola Desert Ridge will offer 416 units across multiple four-story buildings. The garden-style community will feature one-, two- and three-bedroom apartments ranging from 730 to 1,533 square feet. Amenities include a pool and deck, fitness center, dog park, pet grooming salon, glam room, podcast room, individual offices for residents and a self-service market along with lounge areas. The property is slated to deliver in the third quarter of 2026.
Mike Higgins, Asher Gunter, Matt Pesch and Austin Groen of CBRE worked on behalf of the sponsor to arrange the joint venture equity investment with Origin Investments.