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NATIONAL CITY, Calif. — Parkview Financial has funded a $28 million construction loan for the development of Paradise Senior Apartments, a 126-unit age-restricted multifamily property in National City.
The borrower is a San Marcos, Calif.-based private developer. The project will include 116 one-bedroom units averaging 568 square feet and 10 two-bedroom units averaging 1,137 square feet for residents age 55 or older.
Construction is slated to begin later this year with completion expected by the second quarter of 2021.