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Oceanside Condos

McKinley invested $1.4M, secured by a 1st trust deed loan, in this 3-unit condo project in coastal Oceanside. Two recently completed 16-unit townhome projects on the same street sold out quickly. This project will offer larger single-level condos with some ocean views on the top unit and rooftop decks. Coastal Oceanside offers proximity to the beach at a favorable price to other areas in San Diego County.

Investment Type
1st Trust Deed loanResidential Product
3 condosLocation
Oceanside, CA

Sonoma Custom Homes

McKinley provided a loan, secured by a 1st TD, in the amount of approximately $2.5MM to fund the acquisition and construction of two custom homes near downtown Sonoma. The two proposed homes will be approximately 2,800 square feet and will include an attached garage, pool and 700 square foot pool house.

The project seeks to offer a high-quality custom home, similar to those that are selling in the coveted “East side” of Sonoma, but closer to the downtown area and at a more affordable price. The architectural style of the proposed homes is “country-modern”, which is in relatively short supply and commands higher prices in the surrounding Sonoma area. The project aims to be attractive to buyers because it offers the same quality of home as can be found in the more expensive “east side”, newly constructed, on half-acre lots, but at a lower price per square foot and closer to downtown location.

Investment Type
1st Trust Deed loanResidential Product
2 single-family custom homesLocation
Sonoma, CA

Sacramento 32

This $15M project, located in Midtown Sacramento, is being sponsored by a highly experienced Sacramento developer. McKinley committed $2.66M in preferred equity and the sponsor secured a $12.6M acquisition and construction loan.

The project is located in a rapidly gentrifying and appreciating market in Midtown. It is located close to light-rail transit line that provides easy access to downtown and entertainment amenities, such as Raley Field and the future Sacramento Kings Stadium.

Investment Type
Preferred EquityResidential Product
32 townhomesLocation
Sacramento, CA

Downey 39

This infill project, currently a 1.58 acre parking lot within the City of Downey, was brought to the sponsor by the City. The City has reviewed the proposed site plan and supports a 39 townhome project. McKinley committed $4.8M in preferred equity to fund the land acquisition and horizontal and vertical construction. In 2015, the sponsor completed and sold a two similar 17-townhome projects in Downey and Pico Rivera near subject property location.

Investment Type
Preferred EquityResidential Product
39 townhomesLocation
Downey, CA

Cotati Village Walk 46

McKinley invested $5.175M of preferred equity to acquire 46 finished lots ready to build. The project is a mix of 20 attached townhome units and 26 detached homes surrounding an interior park. This project will appeal to a broad market due to pricing, location, and range of product offered.

The property is located less than a mile from the 101 freeway in downtown Cotati. The project fills a niche for affordable homes in a convenient location near transportation (new train station to the East), schools (Sonoma State University), and retail development in southern Sonoma County.

Investment Type
Preferred EquityResidential Product
20 townhomes and 26 single-family detachedLocation
Cotati, CA