Sentinel Acquires California Community
Located 40 miles north of downtown San Francisco, the property was sold by The Spanos Corp.
Downtown San Francisco. Image by Hardik Pandya via Unsplash
Sentinel Real Estate Corp. has purchased a 281-unit community in Petaluma, Calif. The La Via Apartments was sold by the property sponsor and developer The Spanos Corp. According to Yardi Matrix data, the property has a $52 million construction loan lent by U.S. Bank in 2020.
Located at 350 Water St., the midrise community was recently completed. La Via Apartments features studio, one- and two-bedroom apartments with an average size of 924 square feet. The homes include keyless entry, washers and dryers, high ceilings and private patio or balcony options with French-style doors.
Amenities in the community include a wellness studio, yoga studio, cycling room, work from home café, coffee bar, resident parlor with a billiards table and games, catering kitchen, pet spa, bicycle and kayak storage space, grilling area and an outdoor balcony overlooking the Petaluma River. The property has an enclosed garage with electric vehicle charging stations.
Residents are located 40 miles north of downtown San Francisco. Public transit options include the Petaluma downtown train station and Route 101 bus service. Direct access to the Lynch Creek Trail and Petaluma River waterfront offer outdoor greenspace and pedestrian and bike paths.
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The Petaluma submarket had been in need of additional housing, with an average of approximately 52 new units delivered per year, Michael Streicker, president of Sentinel, said in prepared remarks.
Sentinel now owns six properties in Northern California. The company purchased Nova at Green Valley Apartments in Fairfield in December of last year. That 281-unit community was also developed by The Spanos Corp.
