David Brickman Of Adam America Real Estate And Larry Baum Of Stellar Communities Refinance St. Cloud Multifamily For $35.1M

The asset involved in this transaction is a multifamily community consisting of 134 units located at 4896 Stellar Drive in St. Cloud, Florida. The property represents a build-to-rent community known as Havens at Hickory Tree Reserve, which recently completed construction earlier this year.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $35,100,000
• Loan Type: Refinance
• Lender: CoreVest American Finance Lender, LLC
• Landlord: David Brickman - Adam America Real Estate
• Landlord: Larry Baum - Stellar Communities

This refinancing deal enables the landlords to replace the original construction loan with a $35.1 million bridge loan from CoreVest. Both David Brickman and Larry Baum represent significant figures in the real estate sector with their respective companies, Adam America Real Estate and Stellar Communities, playing pivotal roles in the management and development of the property.