Sentinel Acquires California Community
2 min read
The Spanos Corp. sold the property, which is located 40 miles north of San Francisco’s downtown.
Sentinel Real Estate Corp. purchased a community of 281 units in Petaluma. The La Via Apartments were sold by The Spanos Corp., a property sponsor and developer. Yardi Matrix shows that the property had a $52 Million construction loan from U.S. Bank in 2020.
The midrise complex was completed recently at 350 Water St. La Via Apartments offers studios, one- and 2-bedroom apartments that are on average 924 square feet in size. These homes feature keyless entry, washers/dryers, high ceilings, and French-style French doors on the private balcony or patio.
The community offers a variety of amenities, including a yoga studio, a cycling room, a work-from-home cafe, a coffee bar, a resident parlor equipped with a pool table and other games, a catering kitchen, a pet spa, a bicycle and kayak storage area, a grilling area, and a balcony that overlooks the Petaluma River. The property features an enclosed garage that has electric vehicle charging stations.
Residents live 40 miles north of San Francisco. The Petaluma train station downtown and Route 101 bus service are both public transit options. The Lynch Creek Trail, Petaluma River waterfront and the Route 101 bus service offer direct access to outdoor greenspace as well as pedestrian and bicycle paths.
Michael Streicker said that the Petaluma Submarket was in dire need of housing. On average, 52 new units are delivered each year.
Sentinel owns six properties now in Northern California. In December last year, the company acquired Green Valley Apartments Fairfield. The Spanos Corp. also developed the 281-unit complex.
