Stellar Communities And Adam America Real Estate Secure $52.7M Construction Loan For Havens At Palm Bay

The asset involved in the transaction is a Build to Rent property located at the Havens at Palm Bay, situated at the SE Corner of Malabar RD & St Johns Heritage Pkwy. The property encompasses a total square footage of 243,102 and consists of 266 units in the market of Florida’s Space Coast. The transaction was secured with a construction loan amounting to $52,700,000.

Summary of transaction details:

• Property Type: Build to Rent
• Transaction Amount: $52,700,000
• Square Footage: 243,102
• Units: 266
• Address: SE Corner of Malabar RD & St Johns Heritage Pkwy
• Market: Florida’s Space Coast
• Landlord: Larry Baum - Stellar Communities; Ron Vaksin & Omri Sachs Adam America Real Estate
• Brokers: Shane Ciacci, Max La Cava & Pier Barinci - JLL
• Loan Type: Construction

The deal features significant involvement from key individuals and companies, including Larry Baum, who represents Stellar Communities, and the partnership of Ron Vaksin and Omri Sachs from Adam America Real Estate. The brokering was managed by Shane Ciacci, Max La Cava, and Pier Barinci from JLL, highlighting a collaborative effort among these professionals to facilitate the transaction.