$10.5M Recent Loan Closing in Los Angeles, CA

Parkview Financial announced today it has provided a $10.5M construction loan secured by a 1st trust deed for the development of a 32-unit apartment building located in Los Angeles, CA. The Property is fully-entitled, proposed of a four-story apartment building constructed on three adjacent lots totaling 19,687 SF. There will be a pool with an outdoor barbecue deck, along with subterranean parking garage.Tenants will enjoy a wide array of walkable retail and restaurant options Hollywood has to offer. Payoff of the loan will be achieved by the refinance of the developed property.