Preferred Equity Investment
20 TOWNHOMES AND 26 SINGLE-FAMILY DETACHED
McKinley invested $5.175M of preferred equity to acquire 46 finished lots ready-to-build. The project is a mix of 20 attached townhomes and 26 detached homes surrounding an interior park. This project appealed to a broad market due to its pricing, location, and range of product offered. Village Walk is located less than a mile from the 101 freeway in downtown Cotati. Filling a niche for affordable homes in a convenient location, the development is one of few with such desirable characteristics. The new SMART train station to the East offers nearby transportation, the strong school systems and proximity to Sonoma State University is ideal, and retail development in southern Sonoma County (Oliver’s shopping center) make this project one of a kind. Units range from 1,300-1,890SF with prices starting at $450k. Village Walk sold out in November 2018 with the entire project duration lasting just over 2 years.