Los Angeles multifamily project secures $37 million construction loan

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Parkview Financial has provided a $37.3 million construction loan for the development of 112 apartments just outside of Silver Lake in Los Angeles, reports Commercial Observer.

The development is expected to be complete by the third quarter of 2022. The project will cover four lots totaling 2.33 acres between 2908-2965 Allesandro St. in the Elysian Valley.

Each lot will include a three-story building with one-, two-, and three-bedroom units, as well as ground-floor retail.

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