Palm Bay’s apartments community secures $36 million construction loan

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Northshore Development has received construction financing for the West Shore Apartments, a 258-unit community in Palm Bay.

JLL Capital Markets arranged $35.8 million in financing for the development of the Class A apartments project at 2330-2351 Commerce Park Dr. N.E. in Palm Bay. JLL worked on behalf of Northshore to secure the senior loan with Centennial Bank and preferred equity with Parse Capital.

Once completed, West Shore Apartments will consist of 248 units averaging 1,006 sq. ft. The property will feature high-end interior finishes and community amenities such as a resort style pool, fire pit and fountain, seating areas with Pergolas, dog park and a high-tech fitness center.

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