REBusinessOnline

Parkview Financial Funds $7M Acquisition, Development Loan for 28-Story Mixed-Use Project in San Diego

SAN DIEGO — Parkview Financial has provided a $7 million loan to San Francisco-based India & Beech for the acquisition of a land parcel and the first phase of construction funding for a high-rise residential and retail tower in downtown San Diego.

Located at 1460 India St. within the Little Italy neighborhood, the 10,019-square-foot site is currently being used as a parking lot. The borrower recently acquired the property for $7.1 million, using Parkview’s loan in conjunction with cash on hand.

The buyer plans to develop a fully entitled, 28-story, mixed-use urban infill project. The proposed development will feature 150 apartments, 11,724 square feet of retail space and two levels of above-grade parking totaling 150 spots. Construction is slated to begin in 2020, with completion scheduled for 2022.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

Webinars on Demand


Conferences


Subscribe to the newsletter

Read the Digital Editions

Midwest Multfiamily & Affordable Housing Business

Western Multfiamily & Affordable Housing Business

Texas Multfiamily & Affordable Housing Business

Southeast Multfiamily & Affordable Housing Business

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties  

2021 Finance Insight Video Interviews