BAKERSFIELD, CALIF. — BWE has arranged $61 million for Presidio Capital Partners to develop the first phase of Park Center at Seven Oaks in Bakersfield.
Tom Turnage, senior vice president, and Alex Gregoire, vice president, both in BWE’s Irvine office, originated the four-year, floating-rate, interest-only construction loan with a 12-month extension from a super-regional bank.
Park Center at Seven Oaks will include a total of 520 units when fully complete. Phase I will include 352 units. This initial phase will feature 17 residential buildings as well as a leasing office, fitness center and pool house.
Of the 352 units, 152 will be one-bedroom floor plans, and the remaining 200 will be two-bedroom units. Units will come standard with quartz countertops, subway-tile backsplashes, white shaker cabinets, hardwood-style plank flooring, stainless steel appliances, in-unit washers and dryers, fiber optic internet, private patios and 9-foot ceilings.
The property will include 16,200 square feet of interior amenity spaces, featuring a clubhouse with kitchen, lounges, coworking space, storage, mail room and a fitness center with a yoga studio. The property also will have two pools, pergola-shaded barbecue patios, fire pits and a turf area with cornhole, volleyball and table tennis. Other amenities include a fenced dog run and on-site dog wash stations. A community bike trail will bisect the two phases of construction. A completion date for either phase was not disclosed.