Shopoff Realty secures $50.5 million construction loan for new condo in Newport Beach

Shopoff Realty Investments has secured a $50.5 million construction loan for its Parkhouse Residences at Uptown Newport project in the City of Newport Beach.

The Parkhouse Residences at Uptown Newport is planned for a 30 unit, residential community located on 1.528 acres in the Uptown Newport Development in Newport Beach. The site is located at 4239 Uptown Newport Dr.

The 30-unit condo project will feature five, five-story buildings with a combination of three-bedroom, half-floor flats and two-story penthouses priced from approximately $1.9 million.

With construction financing now secured, site development will commence later this month with construction anticipated to be completed in fall or winter 2022.


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