November 4, 2019
Los Angeles-based Parkview Financial provided a $28-million construction loan to a San Marcos, CA-based private developer for the development of Paradise Senior Apartments in National City, CA. The five-story, 126-unit 55+ market rate apartment project is located at 2238 Sixth St.
Construction for the project is anticipated to begin late this year, with completion expected by the second quarter of 2021.
Situated on a roughly one-acre site, the project will include 116 one-bedroom units. Unit interiors will include stainless steel appliances, wood cabinets, washer/dryer, balcony or patio, plank flooring and other upgrades. The property is near Paradise Village retirement community, as well as Paradise Valley Hospital.
Parkview Financial’s Paul Rahimian says, “This is a well-located product in a market with very strong fundamentals.”
For comments, questions or concerns, please contact Dennis Kaiser