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2/27/25
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Adam Tancredi has obtained a $116.2 mil refi loan for the development of 214 build-for-rent homes located on 17 acres of land at 3138 Linne Road in Paso Robles, CA. The loan refinanced the existing acquisition debt, facilitated the buyout of previous partners, and fully capitalized the remaining project, including site infrastructure and vertical home construction.
Located within the Vinedo master-planned community, the build-for-rent community was designed by Daniel Gehman of Danielian Associates and will feature a resort-style pool, fitness center, clubhouse and community gathering spots with fireplaces, bocce court and dog park. The homes will range from 1.4k sf to 1.7k sf, offering two- and three-bedroom homes with accessory dwelling units ranging from 663 sf to 847 sf.
Interior features include stainless steel appliances, European style cabinets and quartz kitchen countertops. Rents will average $2,600 for the one-bedroom units and $3,000 to $3,700 for the two- and three-bedroom units.
3138 Linne Road is within a new 280-acre, master-planned community with an exceptional amenity package, including several parks and trail system surrounded by vineyards.
Jason Moyal and Drew Rands of Max Benjmain Partners arranged the financing.
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