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Parkview Provides $35M Loan for Hollywood Project
Parkview Financial has provided a $35 million loan to CMNTY Culture for the acquisition financing of a land assemblage in Hollywood, CA. Once fully rezoned and entitled, the land will be used to construct CMNTY Culture Campus, a 500,000-square-foot, two-tower complex housing creative office and studio/production space with six subterranean parking levels.
The site’s iconic Hollywood location comprises four contiguous parcels totaling 1.88 acres. One parcel was acquired in July 2021 for $9 million and Parkview provided the loan to facilitate the acquisition of the three remaining parcels which were recently purchased for $44 million.
“Over recent years, media, tech and entertainment companies have continued to intensify their presence in Hollywood and we believe this stunning project can be a competitive product offering in this market,” said Parkview’s Founder and CEO Paul Rahimian.
The project architect is HKS Architects, Inc. while Hood Design Studio has been retained as the landscape designer.
Rendering Courtesy of HKS Architects
- ◦Development
- ◦Financing
