Stellar Communities and Adam America Real Estate have joined forces to develop a build-to-rent community in Palm Bay, Florida. The JLL Capital Markets team of Max La Cava, Pier Barinci, and Shane Ciacci facilitated the arrangement of LP equity and a $52.7 million non-recourse construction loan for the 266-unit Havens at Palm Bay.
Located in the Space Coast MSA, Havens at Palm Bay will be a cottage-style BTR community situated across from a newly constructed Publix-anchored shopping center. The area is home to major employers such as NASA, SpaceX, Blue Origin,L3 Harris Lockheed Martin,Northrop Grumman Embraer,andthe U.S.Space Force – one of eight federal uniformed services in the United States.
The single-story casita-style units at Havens at Palm Bay will feature high-end finishes and an amenities center overlooking a natural lagoon. Anticipated completion date for this project is 2026 with future residents enjoying resort-style pool access along with other amenities like clubhouse,tot lot,dog park,self-storage,and detached parking.The development duo’s collaboration promises to bring an exciting new living option to Space Coast residents.
