Adam America, Stellar Close Refi on 134-Unit St. Cloud BTR Community
Adam America Real Estate and Stellar Communities successfully refinanced the Havens at Hickory Tree Reserve, a newly completed 134-townhome build-to-rent community in St. Cloud, Florida.
The joint venture secured a $35.1 million bridge loan from CoreVest American Finance Lender, LLC (“CoreVest”), replacing the project’s construction financing following completion of the community earlier this year. Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Dustin Stolly, Sean Reimer, and Sean Bastian at Walker & Dunlop arranged the financing on behalf of the joint venture.
Located at 4896 Stellar Drive in St. Cloud, Havens at Hickory Tree Reserve offers 134 two-, three- and four-bedroom townhomes. Rents start at approximately $2,463 per month for the two-bedroom residences. The community features a clubhouse with a state-of-the-art fitness center, resort-style swimming pool, covered playground, walking path surrounding the adjacent lake, and a lakefront dog park.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout