Parkview Financial, an alternative investment firm specializing in U.S. commercial real estate credit, has closed a $33.75 million construction loan for a new 80-unit multifamily development located at 1838 South Brand Boulevard in Glendale, California. The five-story building will feature modern apartment units, including five units reserved for below-market rent, and offer amenities such as in-unit washers and dryers, a fitness center, rooftop terrace, and a common lounge space. The 2.10-acre site is comprised of four lots and is currently vacant.

The property is centrally located in Glendale, near the border with Atwater, approximately 1.4 miles from downtown Glendale and within driving distance of nearby retail and employment hubs. Glendale’s combination of affordability relative to Downtown Los Angeles and strong demand for multifamily housing supports long-term rental stability and growth.

Parkview structured the loan to support both the acquisition of the land and construction of the project, with financing aligned alongside sponsor equity to ensure a well-capitalized development. Construction and mobilization are expected to commence immediately, with completion targeted for November 2023.

The development is being executed by an experienced sponsor with a strong track record of successful multifamily projects, including prior loans with Parkview.