Parkview Financial, an alternative investment firm specializing in U.S. commercial real estate credit, has closed a $41.5 million construction loan for a new mixed-use residential and retail development located at 5300 Baltimore Avenue in Hyattsville, Maryland. The six-story building will feature 285 residential rental units, including 27 studios, 176 one-bedroom, and 82 two-bedroom units, totaling 232,000 square feet of net rentable space. The development will also include 31,660 square feet of ground-level retail and an above-grade parking structure.
 

The property is situated on a 3.34-acre site in the Hyattsville Arts District, approximately six miles northeast of Washington, D.C., and 2.8 miles south of the University of Maryland. The location offers a suburban infill setting with strong access to major employment centers, transit, and cultural amenities. Ground-breaking is scheduled for July 2021, with project completion targeted for July 2023.
 

Parkview structured the loan to support both acquisition and construction, with the project capitalized through sponsor equity and a ground lease structure. The site is currently improved with older vacant retail buildings, which will be demolished to make way for the new development. Upon completion, the building will deliver high-quality, amenity-rich housing with ground-floor retail designed to serve the surrounding community.