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Parkview Provides Construction Financing for Poway MXU
Connect Apartments is planned next month in Los Angeles. You can get more information and register to attend on this link.
Parkview Financial provided a $31.85 million construction loan to San Diego-based Poway Property, LP for the development of Outpost, a three-building, mixed-use project in Poway, CA. The 97,240-square-foot property at 13247 Poway Rd. will include 53 apartment units and ground floor retail space that is fully pre-leased to Crunch Fitness and Three Local Brothers.
Parkview Financial’s Paul Rahimian says, “The company used its own money to start the work, but in order to expedite the construction process, it obtained construction financing from Parkview – which will ultimately provide assurance of access to capital and ensure timely completion of the project.”
Rahimian notes the project is the first major redevelopment along the Poway Road corridor, and the first new apartment project in Poway in the last 20 years. Construction began on the 1.55-acre site in the summer of 2018, with completion anticipated in 2020.
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