Deal Details
Private Loan Type
Residential Ground-Up Construction
Approx. Funding Date
06/15/2016
Property Type
Single Family Residence
Property City
Pacific Palisades
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Lot Acreage
4
Interest Rate
9.99%
Origination Points
2%
Deal Summary
Parkview Financial, a private mortgage fund, provided a $7,600,000 1st lien position ground-up construction loan for two single-family home in Pacific Palisades, CA. The subject property is a 4-acre lot with a sweeping ocean and canyon views. We charged 9.99% interest rate and 2% origination fee. This private construction loan was funded in June 2016.