Parkview Financial Provides $28M Loan for Woodland Hills Project

Parkview Financial has provided a $28 million loan to Sandstone Properties to refinance an existing loan and also finance the pre-development of a 35-story residential development and hotel conversion in Woodland Hills, CA. Sandstone will convert an office property on the site to a four-story, 240-key luxury hotel and develop a new 650-unit apartment building.

“With substantial development experience in all sectors, Sandstone Properties has successfully executed many significant multifamily and hospitality projects in the Los Angeles area, and we are pleased to provide financing to move this project forward,” said Parkview’s Founder and CEO Paul Rahimian.

The new development on Canoga Avenue is adjacent to a former mall and office building that have been purchased by LA Rams owner Stan Kroenke. It has been widely reported that a Rams practice facility, a new office and multifamily project will be developed there.

Rendering courtesy of project architect WATG