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California  + Los Angeles  + Retail  | 

Parkview Provides Construction Loan for New L.A. MXU

Parkview Financial provided a $16.5 million construction loan to Los Angeles-based 5050 Pico, LLC for the development of Kentish Town. The new five-story mixed-use residential and retail project is located at 5050 W. Pico Blvd. in Los Angeles’ Mid-City/West Adams/Pico Heights submarket.

Parkview Financial’s Paul Rahimian says, “This property will be one of only a few newly-constructed apartment buildings in its submarket which has experienced eight years of consecutive rent growth and is currently seeing a low vacancy rate of just 2.4%.”

The 60,110-square-foot project will include 79 residential units and 2,121 square feet of ground floor retail space. There will also be a grade-level parking area and a subterranean parking level totaling 67 spaces. On-site tenant amenities will include two rooftop decks, a bike room with storage, and a resident lounge.

The residential units consist of a mix of studio and one-bedroom floor plans. Construction has commenced, with completion anticipated for October 2020.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Development
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