Sentinel Real Estate Makes Sixth NorCal Property Acquisition
New York City-based Sentinel Real Estate Corporation acquired La Via Apartments, a recently completed 281-unit mid-rise apartment community in Petaluma. Sentinel purchased the property from the sponsor, The Spanos Corporation, a leading developer of multifamily communities across the U.S.
“La Via exemplifies our strategy to acquire well-located, high-quality properties in submarkets supported by strong fundamentals with long-term tailwinds,” said Michael Streicker, president of Sentinel. “Surrounded by protected parklands, the Petaluma submarket has seen few deliveries of new apartments in recent years – approximately 52 units per year, on average – driving compelling supply/demand dynamics and consistent rent growth.”
Sentinel has been active in the Northern California market throughout its 54-year history and currently owns six properties in the area. The firm plans to continue leveraging its market expertise and deep industry relationships to identify attractive investment opportunities and expand its portfolio in the region.