The $71.3 million Freddie Mac fixed rate, non-recourse loan carries a seven-year term with a 30-year amortization and four years of interest-only payments. The financing enables the borrower to exit the construction loan on the property, which it built in 2021, in an area hard hit by recent wildfires and a dearth of rental housing.
Sendero Townhomes offers three-bedroom townhomes and studio apartments with a community pool and sundeck, fitness center, clubhouse with billiards room, and on-site parking. The pet-friendly property is located off Highway 12 and near Highway 101, offering easy access to outdoor recreation centers, bike trails and downtown Santa Rosa.