**ZOM Living Secures $88M for First Phoenix Development, Azola Desert Ridge**
ZOM Living has secured financing for Azola Desert Ridge, marking the company’s first foray into the Phoenix market. The $88 million in funding includes a joint venture equity investment from Origin Investments and construction financing to bring the project to life.
Azola Desert Ridge will be located along the Loop 101 Freeway at 56th Street. This garden-style residential community will feature 416 apartments across four-story buildings, with an expected delivery timeline set for the third quarter of 2026.
The development will offer a diverse range of floor plans, from 730 to 1,533 square feet. Residents will have access to premium amenities such as a resort-style pool and sun deck, a fitness center, private work-from-home offices, a self-service market, and multiple lounge spaces.
In addition to Azola Desert Ridge, ZOM Living has plans for further expansion in the Phoenix metro area. Upcoming projects include up to 532 market-rate rental units in Old Town Scottsdale and approximately 341 apartment units in the Biltmore District, near the Biltmore Fashion Park.
CBRE facilitated the joint venture equity investment with Origin Investments. The CBRE multifamily equity advising team was led by Mike Higgins, who represented ZOM Living in the transaction.
